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Jobs 5.0: Wip Method = Completed Contract
tinoruijs
Member Posts: 1,226
Hi,
I'm using NAV 5.0 SP1 NL.
I'm a bit confused about the functionality of the field "Wip Method" on the job card.
I've set it to: Completed Contract.
From F1 in NAV:
With this method, revenue and costs are not recognized until the job is complete. You may wish to do this when there is high uncertainty around the estimates of costs and revenue for the job. The Completed Contract method is an alternative recommended by some international accounting standards.
All usage is posted to the WIP Costs Account (asset) and all invoiced sales are posted to the WIP Invoiced Sales Account (liability) until the job is complete.
But when I post a purchase order to a job (filled on purchase line; Job No. and Job Task No.) nothing is post to the WIP Costs Account (asset).
The usage is just posted on the g/l I filled on the purchase line. :-k :?:
It should be posted on the WIP Costs Account. :!:
Anybody else experienced it too?
I saw I'm not the only one struggling with "Wip Method":
http://www.mibuso.com/forum/viewtopic.php?t=24011&highlight=wip+method
But unfortunatly it seems there aren't that many people yet that have 5.0 Jobs experience.
I'm using NAV 5.0 SP1 NL.
I'm a bit confused about the functionality of the field "Wip Method" on the job card.
I've set it to: Completed Contract.
From F1 in NAV:
With this method, revenue and costs are not recognized until the job is complete. You may wish to do this when there is high uncertainty around the estimates of costs and revenue for the job. The Completed Contract method is an alternative recommended by some international accounting standards.
All usage is posted to the WIP Costs Account (asset) and all invoiced sales are posted to the WIP Invoiced Sales Account (liability) until the job is complete.
But when I post a purchase order to a job (filled on purchase line; Job No. and Job Task No.) nothing is post to the WIP Costs Account (asset).
The usage is just posted on the g/l I filled on the purchase line. :-k :?:
It should be posted on the WIP Costs Account. :!:
Anybody else experienced it too?
I saw I'm not the only one struggling with "Wip Method":
http://www.mibuso.com/forum/viewtopic.php?t=24011&highlight=wip+method
But unfortunatly it seems there aren't that many people yet that have 5.0 Jobs experience.
Tino Ruijs
Microsoft Dynamics NAV specialist
0