About WIP accrued loss accounts
Important
This content is archived and is not being updated. For the latest documentation, see Microsoft Dynamics 365 product documentation. For the latest release plans, see Dynamics 365 and Microsoft Power Platform release plans.
Applies To: Microsoft Dynamics AX 2012 R3, Microsoft Dynamics AX 2012 R2, Microsoft Dynamics AX 2012 Feature Pack, Microsoft Dynamics AX 2012
This topic contains an overview of how and where the WIP - accrued loss account is applied and the parameter setup that is required in the Project groups form.
Account type
Balance
Availability
License code |
Configuration code |
|---|---|
Project II |
Work in process |
How the account is applied
Transaction type |
Project type |
Statement type |
|---|---|---|
Expense |
Fixed-price |
WIP |
Investment |
Parameter dependencies
In the Project groups form, on the Estimate FastTab, select the Foreseeable losses check box.
Actions and effects
Action |
Effect |
|---|---|
Post estimate |
For fixed-price projects with the completed contract revenue recognition accounting principle, the account is credited with an expense transaction if there is a foreseeable loss on the project. For investment projects, the account is credited with an expense transaction if the total capitalized cost exceeds the maximum capitalization. |
Reverse estimate |
For investment projects and fixed-price project with the completed contract revenue recognition accounting principle, the account is debited. |
Elimination |
For fixed-price projects with the completed contract revenue recognition accounting principle, the account is debited. |
Reverse elimination |
For fixed-price projects with the completed contract revenue recognition accounting principle, the account is credited. |