In one of my previous posts, I have already described how you can post Job WIP entries if you use Cost Value as recognized cost in WIP posting method. But, it was only part of posting when you calculate Job WIP for the first time. But if you have already posted Job WIP entries and want to post WIP, again after new usage posting (as Contract).
In this situation, system first need to post correction of previous Job WIP entries and that post new entries. You can see how there G/L entries look like on following table:
When we speak about “Remaining Cost in Comparison with Schedule”, we already think about relation between Contract usage posting and values as Schedule.
3 thoughts on “Posting Groups #25 – Job WIP Posting (3 – Cost Value)”
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Dear Mr. Totovic,
I had a problem with reversing WIP Job. The reversing WIP is fine and in the G/L Entries, it add another line with negative amount.
The problem is that in G/L entries, the ‘Reversed’ is not checked. This is bad for Finance Reports.
Had you had this problem before?