About WIP cost value item 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 contains an overview of how and where the WIP - cost value - item account is applied and the parameter setup that 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

Item

Fixed-price

WIP

Time and material

Consumption

Investment

In the Project groups from, on the Ledger tab, for time and material projects, select Balance in the Journalizing fields. In the Line properties form, on the General FastTab, select the Capitalize cost check box.

Action

Effect

Post journal

When posting item journals, the account is debited if Balance is selected on the project group.

Post cost

If transactions are moved from the status Profit and loss to Balance the account is debited.

If transactions are moved from the status Balance to Profit and loss the account is credited.

Invoicing

The account is credited when time and material project invoices are posted provided that the transaction status is set to Balance.

Post estimate

For investment projects and fixed-price projects with the completed contract revenue recognition accounting principle the account is debited when items are posted.

Reverse estimate

For fixed-price projects with the completed contract revenue recognition accounting principle, the account is credited when items are posted.

For investment projects the account is debited when items are posted.

Elimination

The account is credited.

Reverse elimination

The account is debited.


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

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