About WIP cost value 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 - cost value account is applied and the parameter setup that is required in the Project groups and Line properties forms.
Account type
Balance
Availability
License code |
Configuration code |
|---|---|
Project II |
Work in Process |
How the account is applied
Transaction type |
Project type |
Statement type |
|---|---|---|
Hour |
Time and material |
WIP |
Expense |
Fixed-price |
Consumption |
Investment |
Parameter dependencies
In the Project groups form, on the Journalizing FastTab, select Balance in the Journalizing fields. In the Line properties form, on the General FastTab, select the Capitalize cost check box.
Actions and effects
Action |
Effect |
|---|---|
Post journal |
The account is debited if the transaction ledger status is Balance. |
Post cost |
If transactions are moved from the status No ledger or Profit and loss to Balance, the account is debited. If transactions are moved from the status Balance to Profit and loss or No ledger, the account is credited. |
Invoicing |
If the transaction ledger status is Balance, the account is credited when time and material project invoices are posted. |
Post estimate |
For investment projects and fixed-price projects with the completed contract revenue recognition accounting principle the account is credited when items, hours and expenses are posted if the Capitalize cost check box is selected in the Line properties form. |
Reverse estimate |
For investment projects and fixed-price projects with the completed contract revenue recognition accounting principle, the account is debited. |
Eliminate |
If the transaction ledger status is Balance, the account is credited. |
Reverse elimination |
If the transaction ledger status is Balance, the account is credited. |