Job WIP reversal and calculate wip costs

(0) Share

Report

Posted on by Community Member

We are using the completed contract WIP Method in Company A and the Cost Value WIP Method in Company B

We are now getting transactions for future dates if we have costs post in the next period. Is it safe to say, that when posting WIP, we should add a Posting date filter like 2/01/2022..2/28/2022 in order to only get costs in the period that we want,

Also, Does WIP in Business Central, Not reverse itself after it posts the WIP transaction? I am used to seeing a DR transaction to SIP on 2/28 and a CR on 3/1 for the same WIP amount. This was never confirmed in Testing and now we are live and have an issue

I have the same question (0)

All responses (1)

Answers (0)

Suggested answer

Dallefeld 235 User Group Leader on at

Like (0)

Report
Copy link

Link copied!

1. I would limit transactions of costs to be included but rather than 020122..022822, I would enter ..022822, this will get all transactions up to 2/28 but not pickup anything after 2/28.

2. Job WIP is not just an accrual, depending upon setup Job WIP is recognizing revenue and expense, deferring revenue and expense. Therefore, it does not reverse.

Was this reply helpful? Yes No