About WIP production accounts [AX 2012]

Updated: February 28, 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 - production account is applied and the parameter setup that is required in the Project groups form.

The WIP - production account is used with the WIP - profit account. You can use these two accounts as an alternative to using the WIP - sales value account.

Balance

License code

Configuration code

Project II

Work in Process

Transaction type

Project type

Statement type

Fee

Fixed-price

WIP

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

The following table describes the effects that particular actions have on fixed-price projects that use the completed percentage revenue recognition accounting principle.

Action

Effect

Post estimate

The account is debited with a fee transaction that is created when an estimate is posted.

Reverse estimate

The account is credited on the reversed fee transaction when the reversed estimate is posted.

Eliminate

The account is credited on the original fee transaction when the elimination is posted.

Reverse elimination

The account is debited on the reversed fee transaction when the reverse elimination is posted.


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

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