Posting example 6 - fixed-price project [AX 2012]

Updated: November 11, 2011

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

The following tables provide an example of posting a fixed-price project.

Project group parameters

Revenue recognition accounting rule

Matching principle

On-account invoicing

Completed contract

Sales value

Profit and loss

Tip Tip

These project group parameters are set up on the Estimate FastTab in the Project groups form. Click Project management and accounting > Setup > Posting > Project groups.

Statement P&L

Positive amount

Jul

Aug

Sept

Oct

Nov

Dec

Total

Invoiced revenue - on account

Credit

80,000

50,000

70,000

200,000

Accrued revenue - on account

Credit

0

0

0

0

0

0

0

Accrued revenue - sales value

Credit

0

0

0

0

0

0

0

Revenue

80,000

0

50,000

0

70,000

0

200,000

Cost

Debit

12,000

30,000

24,000

36,000

18,000

0

120,000

Gross margin

-68,000

-30,000

26,000

-36,000

50,000

0

80,000

Statement WIP (balance)

Positive amount

Jul

Aug

Sept

Oct

Nov

Dec

Total

WIP - cost value and WIP - cost value - item

Debit

0

0

0

0

0

0

0

Gross WIP

0

0

0

0

0

0

0

WIP - invoiced - on account

Credit

0

0

0

0

0

0

0

Net WIP

0

0

0

0

0

0

0

Statement P&L

Positive amount

Jul

Aug

Sept

Oct

Nov

Dec

Total

Invoiced revenue - on account

Credit

0

0

0

0

0

0

0

Accrued revenue - on account

Credit

-80,000

0

-50,000

0

-70,000

0

-200,000

Accrued revenue - sales value

Credit

0

0

0

0

0

200,000

200,000

Cost

Debit

-12,000

-30,000

-24,000

-36,000

-18,000

120,000

0

Statement WIP (balance)

Positive amount

Jul

Aug

Sept

Oct

Nov

Dec

Total

WIP - cost value and WIP - cost value - item

Debit

12,000

30,000

24,000

36,000

18,000

-120,000

0

WIP - invoiced - on account

Credit

80,000

0

50,000

0

70,000

-200,000

0

Statement P&L

Positive amount

Jul

Aug

Sept

Oct

Nov

Dec

Total

Invoiced revenue - on account

Credit

80,000

0

50,000

0

70,000

0

200,000

Accrued revenue - on account

Credit

-80,000

0

-50,000

0

-70,000

0

-200,000

Accrued revenue - sales value

Credit

0

0

0

0

200,000

200,000

Revenue

0

0

0

0

0

200,000

200,000

Cost

Debit

0

0

0

0

0

120,000

120,000

Gross margin

0

0

0

0

0

80,000

80,000

Statement WIP (balance)

Positive amount

Jul

Aug

Sept

Oct

Nov

Dec

Total

WIP - cost value and WIP - cost value - item

Debit

12,000

30,000

24,000

36,000

18,000

-120,000

0

Gross WIP

12,000

30,000

24,000

36,000

18,000

-120,000

0

WIP - invoiced - on account

Credit

80,000

0

50,000

0

80,000

-200,000

0

Net WIP

-68,000

30,000

-26,000

36,000

-52,000

200,000

0


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