About WIP accrued loss 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 - accrued loss 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

Expense

Fixed-price

WIP

Investment

In the Project groups form, on the Estimate FastTab, select the Foreseeable losses check box.

Action

Effect

Post estimate

For fixed-price projects with the completed contract revenue recognition accounting principle, the account is credited with an expense transaction if there is a foreseeable loss on the project.

For investment projects, the account is credited with an expense transaction if the total capitalized cost exceeds the maximum capitalization.

Reverse estimate

For investment projects and fixed-price project with the completed contract revenue recognition accounting principle, the account is debited.

Elimination

For fixed-price projects with the completed contract revenue recognition accounting principle, the account is debited.

Reverse elimination

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


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

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