About WIP cost value item accounts
Important
This content is archived and is not being updated. For the latest documentation, see Microsoft Dynamics 365 product documentation. For the latest release plans, see Dynamics 365 and Microsoft Power Platform release plans.
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.
Account type
Balance
Availability
License code |
Configuration code |
|---|---|
Project II |
Work in process |
How the account is applied
Transaction type |
Project type |
Statement type |
|---|---|---|
Item |
Fixed-price |
WIP |
Time and material |
Consumption |
|
Investment |
Parameter dependencies
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.
Actions and effects
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. |