About WIP profit 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 - profit account is applied and the parameter setup that is required in the Project groups form.

Balance

License code

Configuration code

Project II

Work in process

Transaction type

Project type

Statement type

Fee

Fixed-price

WIP

For fixed-price projects, in the Project groups form, on the Estimate FastTab, select Production + profit in the Matching principle field, and select Completed percentage in the Revenue recognition accounting rule field.

Action

Effect

Post estimate

For fixed-price projects with the completed percentage revenue recognition accounting rule, 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 rule, 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 rule, 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 rule, the account is debited on the original 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).

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