Resource journal and G/L

iamsandygawankar

Hello All

What is the purpose of resource journal? I posted a resource journal and noticed that it doesn't hit the G/L at all.

Screnario:

Job scheduled cost is 8 hours @ $10 = $80 and Job contract price is $100. WIP method is percentage of completion.

I have created a resource with a cost and price.

Using timesheets i allocated 8 hours to a job.

Using job g/l i consumed the 8 hours on the job.

At this moment, there is no impact on the G/L

I ran WIP and the system calculated 100% of the job is completed and accrued $100 of sales income.

The issue i have is there is no resource cost in the G/L but there is $100 of sales income making my P&L incorrect.

Why can't the resource cost consumed hit the G/L. I read somewhere that since the internal cost comes from payroll, it will be allocated to the G/L already.

for e.g

Salary Dr 30 hours @ 10 = $300

Bank Cr = -$300

Shouldn't the resource journal do the following?

Resource cost G/L Dr $80

Salary Cr -$80

kriki

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