Hi Ludwig,
I'm not sure how to enter it.
For example:
1. I wanna migrate Fixed price project (Percentage of complete and BS method)
- On Beginning balance journal: Date 1/01/2021: Cost status = Balance sheet, Accrue revenue = No, Line property = Billable?
- On-account: Date 1/01/2021, Sales value 1000 USD, Revenue 500 USD (Assumed that my project has completed at 50%)
- On General journal: create OB transaction with WIP accounts, date 01/01/2021
- On Estimate function: create Estimate at 01/01/2021 or 01/31/2021? with option Beginning balance = Yes?
2. I wanna migrate Fixed price project (Percentage of complete and PL method)
- On Beginning balance journal: Date 1/01/2021: Cost status = Profit and loss, Accrue revenue = No, Line property = Billable?
- On-account: Date 1/01/2021, Sales value 1000 USD, Revenue 500 USD (Assumed that my project has completed at 50%)
- On General journal: create OB transaction with WIP accounts (at pervious year, i should transfer PL accounts into WIP accounts for new Fiscal year), date 01/01/2021
- On Estimate function: create Estimate at 01/01/2021 or 01/31/2021? with option Beginning balance = Yes?
Does my above data is correct?
Thank you!
Best regards,
Thu
