Posting example 8 - 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 for posting a fixed-price project.

Project group parameters

Revenue recognition accounting rule

Matching principle

On-account invoicing

Completed contract

Production + profit

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

0

50,000

0

70,000

0

200,000

Accrued revenue - on account

Credit

0

0

0

0

0

0

0

Accrued revenue - production

Credit

0

0

0

0

0

0

0

Accrued revenue – profit

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

52,000

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

-200,000

Accrued revenue - production

Credit

0

0

0

0

0

120,000

120,000

Accrued revenue – profit

Credit

0

0

0

0

0

80,000

80,000

Cost

Debit

-12,000

-30,000

-26,000

-36,000

-52,000

120,000

0

Statement WIP (balance)

Positive amount

Jul

Aug

Sept

Oct

Nov

Dec

Total

WIP - sales value

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 - production

Credit

0

0

0

0

0

120,000

120,000

Accrued revenue – profit

Credit

0

0

0

0

0

80,000

80,000

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

70,000

-200,000

0

Net WIP

-60,000

30,000

20,000

36,000

-70,000

80,000

0


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