About WIP sales value accounts [AX 2012]

Updated: February 22, 2011

Applies To: Microsoft Dynamics AX 2012 R3, Microsoft Dynamics AX 2012 R2, Microsoft Dynamics AX 2012 Feature Pack, Microsoft Dynamics AX 2012

This topic provides an overview of how and where the WIP - sales value account is applied and what parameter setup is required in the Project groups and Line properties forms.

Balance

License code

Configuration code

Project II

Work in process

Transaction type

Project type

Statement type

  • Hour

  • Item

  • Expense

  • Fee

  • Fixed-price

  • Time and material

WIP

For fixed-price projects, in the Project groups form, on the Estimate FastTab, select Sales value in the Matching principle field, and select Completed percentage in the Revenue recognition accounting rule form. For time and material projects, in the Line properties form, on the General FastTab, select the Accrue revenue check box.

Action

Effect

Post journal

The account is debited on time and material projects if revenue is set to be accrued on the project group and the Accrue revenue check box is selected in the Line properties form.

Invoicing

The account is credited if accrued revenue exists on the transaction.

Post estimate

For fixed-price projects with the completed percentage revenue recognition accounting principle, 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 principle, 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 principle, 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 principle, the account is debited on the reversed fee transaction when the reversed elimination is posted.


Announcements: To see known issues and recent fixes, use Issue search in Microsoft Dynamics Lifecycle Services (LCS).

Community Additions

ADD
Show: