How to: Set Up Job Posting Groups
One aspect of planning jobs is deciding which posting accounts to use for job costing. To be able to post jobs, you set up accounts for posting for each job posting group. A posting group represents a link between the job and how it should be treated in the general ledger. When you create a job, you specify a posting group, and by default, each task you create for the job is associated with that posting group. However, as you create tasks, you can override the default and select a posting group that is more appropriate.
Note
The necessary accounts in the chart of accounts must be set up before you set up posting groups. For more information, see Chart of Accounts.
To set up job posting groups
In the Search box, enter Job Posting Groups, and then choose the related link.
On the Home tab, choose New to create a new job posting group. To update an existing posting group, you can edit each field value as needed.
Fill in the account fields as described in the following table.
Account field Description Code
A code for the posting group. You can enter up to 10 characters, including spaces.
WIP Costs Account
The WIP account for the calculated cost of the job WIP, which is a balance sheet capital asset account.
WIP Accrued Costs Account
An account for the Cost Value or Cost of Sales method of WIP calculation, which is a balance sheet accrued expense liability account. This will be posted to when the WIP adjustment requires that usage costs posted to the income statement be increased.
Job Costs Applied Account
A balancing account to the WIP Costs Account, which is a contra for a negative expense account.
Item Costs Applied Account
A balancing account to the WIP Costs Account, which is a contra for a negative expense account.
Resource Costs Applied Account
A balancing account to the WIP Costs Account, which is a contra for a negative expense account.
G/L Costs Applied Account
A balancing account to the WIP Costs Account, which is a contra for a negative expense account.
Job Costs Adjustment Account
The balancing account to the WIP Accrued Costs account, which is an expense account.
G/L Expense Acc. (Contract)
The sales account that will be used for general ledger expenses in job tasks with this posting group. If left empty, the general ledger account entered on the job planning line is used.
WIP Accrued Sales Account
The WIP account for the calculated sales value of the WIP, which is a balance sheet Accrued Revenue account. This is posted to when the WIP adjustment requires the recognized revenue to be increased.
WIP Invoiced Sales Account
The account for the invoiced sales value of the WIP that is not able to be recognized. It is a balance sheet Unearned Revenue account.
Job Sales Applied Account
The balancing account to the WIP Invoiced Sales account, which is a contra income account.
Job Sales Adjustment Account
The balancing account to the WIP Job Sales Account, which is an income account.
Recognized Costs Account
The expense account that contains the recognized costs for the job. It is a DR expense account ordinarily.
Recognized Sales Account
The income account that contains the recognized income for the job. It is a CR income account ordinarily.
See Also
Tasks
How to: Create a Job
How to: Create Tasks for a Job