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Hello Experts,
"WIP method must only be Completed Contract in Job No.=00001 with Job Type= Capital WIP."
Why is it so?
Regards,
JO
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If an asset is not completed at that time when balance sheet is prepared, all costs incurred on that asset up tot he balance sheet date are transferred to an account called Capital Work in Progress Account.
This account is shown separately in the balance sheet below the fixed asset.
Capital work in progress account contains all expenses incurred on the asset until it is converted into working condition. All these expenseswill become part of the cost of that asset
www.zeepedia.com/read.php;b=23&c=20
What I understood is as follows:
Capital work in progress account contains all expenses incurred on the asset until it is converted into working condition. (That is on Completion). All these expenseswill become part of the cost of that asset.
That is why the Posting will be done only on completion of asset.
So that's why the system is not allowing in this case...
If anyone wants to share their opinion, please do
Let me clarify my question,
The sysetm doesn't allow any Job other than Completed Job with Job type with "Capital WIP"
I just want to know why. See the picture:
Hi Saurabh,
Thanks for the reply..
I just need to know the reason behind the "WIP method must only be Completed Contract in Job No.=00001 with Job Type= Capital WIP."
Hi Jiju,
Please let me know on which event it is giving you this message.
For your reference go through below link. you might get your answer.
msdn.microsoft.com/.../hh172398(v=nav.71).aspx
plataan.typepad.com/.../confused-by-wip.html
If you still have any confusion, please ask. :)
Regards,
Saurabh Shah
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