About WIP profit 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 - profit 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 |
|---|---|---|
Fee |
Fixed-price |
WIP |
Parameter dependencies
For fixed-price projects, in the Project groups form, on the Estimate FastTab, select Production + profit in the Matching principle field, and select Completed percentage in the Revenue recognition accounting rule field.
Actions and effects
Action |
Effect |
|---|---|
Post estimate |
For fixed-price projects with the completed percentage revenue recognition accounting rule, the account is debited with a fee transaction that is created when an estimate is posted. |
Reverse estimate |
For fixed-price projects with the completed percentage revenue recognition accounting rule, the account is credited on the reversed fee transaction when the reversed estimate is posted. |
Elimination |
For fixed-price projects with the completed percentage revenue recognition accounting rule, the account is credited on the original fee transaction when the elimination is posted. |
Reverse elimination |
For fixed-price projects with the completed percentage revenue recognition accounting rule, the account is debited on the original fee transaction when the reversed elimination is posted. |