Walkthrough: Calculating Work in Process for a Job

[アーティクル]
09/14/2014

With jobs, you can schedule the usage of your company's resources and keep track of the various costs associated with the usage of resources on a specific project. Jobs involve the consumption of employee hours, machine hours, inventory items, and other types of usage that have to be tracked as a job progresses. If a job runs over a long period, you may want to transfer these costs to a Work in Process (WIP) account on the balance sheet while the job is being completed. You can then recognize the costs and sales in your income statement accounts when it is appropriate.

About This Walkthrough

This walkthrough illustrates the following tasks:

Calculating WIP.
Selecting a WIP calculation method.
Excluding part of a job from the WIP.
Posting the WIP to the general ledger.
Reversing a WIP posting.

Each step of the process calculates the value and moves the job transactions to the general ledger. The calculation and posting steps are separated to help you review your data and to make modifications before posting to the general ledger. Therefore, you should make sure that all information is correct after you run the calculation batch jobs and before you run the posting batch jobs.

Roles

This walkthrough uses the project team member (Tricia) as the persona.

Prerequisites

Before you can perform the tasks in the walkthrough, the CRONUS International Ltd. demonstration database must be installed on your computer.

Story

This walkthrough focuses on the CRONUS International Ltd., a design and consultancy firm that designs and fits new infrastructures, such as conference halls and offices, with furniture, accessories, and storage units. Most of the work at CRONUS is project-oriented and Tricia, a project team member, uses jobs to have an overview of each ongoing job that CRONUS has started and also the jobs that are completed. Some of the jobs can be very lengthy and can run over months. Tricia can use a WIP account to record the work in process and to track the costs throughout the job.

Calculating WIP

CRONUS International Ltd. has taken on a lengthy project that has now extended across reporting periods. Tricia, a project team member, calculates the work in process (WIP) to make sure that the financial statement of the company will be accurate.

During this procedure, Tricia will select a specific group of tasks that will be included in the WIP calculation. In the Job Task Lines window, she can specify these lines in the WIP-Total column.

The following table describes the three options.

Options	Description
<blank>	Leave blank if the job task is a part of a group of tasks.
Total	Defines the range or group of tasks that are included in the WIP and recognition calculation. Within the group, any job task with Job Task Type set to Posting will be included in the WIP Total, unless its WIP-Total field is set to Excluded.
Excluded	Applies only to a task with Job Task Type of Posting. The task is not included when WIP and recognition are calculated.

In the following walkthrough, Tricia applies the Cost Value method, her company standard, to calculate WIP. She specifies what part of the job will be included in the WIP calculation by assigning WIP-Total values to various job task lines.

To calculate WIP

In the Search box, enter Jobs, and then choose the related link.
In the Jobs list, select the Deerfield job. On the Home tab, in the Manage group, choose Edit. This will open the job card in edit mode.

WIP can be calculated based on Cost Value, Sales Value, Cost of Sales, Percentage of Completion, or Completed Contract. In this example, CRONUS uses the Cost Value method.
On the Posting FastTab, choose the WIP Method field, and then select Cost Value.
On the Home tab, in the Process group, choose Job Task Lines and set the following values in the WIP-Total field.

The following table describes the values.

Job Task No. WIP-Total Field

1130

Excluded

1190

Total

1210

Excluded

1310

Excluded
On the Actions tab, in the Functions group, choose WIP, and then choose Calculate WIP.
In the Job Calculate WIP window, you can select a job that you want to calculate WIP. On the Job FastTab, select Deerfield in the No. field.
In the Posting Date field, enter a date that is later than the work date set for CRONUS International Ltd. For more information, see How to: Set the Work Date and How to: Enter Dates and Times.
In the Document No. field, enter 1. This creates a document that you can refer to later for traceability.
Choose the OK button to run the batch job. A message is displayed. Choose the OK button to continue. Close the Job Task Lines window.

Note

The message states that there are warnings associated with the WIP calculation. You will review the warnings in the next procedure.
On the Job card, expand the WIP and Recognition FastTab to see the calculated values. You can also see the WIP Posting Date and the values that have been posted to the general ledger, if any.

Job Task No.	WIP-Total Field
1130	Excluded
1190	Total
1210	Excluded
1310	Excluded

Notice that the value for Recog. Costs Amount is 215.60 in the To Post column. This reflects the total costs of two of the items in the group of job tasks 1110 – 1130. The third item was set to Excluded, and therefore is not included in the WIP calculation.

To review WIP warnings

In the Search box, enter Job WIP Cockpit, and then choose the related link.
Select the Deerfield job, and on the Home tab, in the Process group, choose Show Warnings.
In the Job WIP Warnings window, review the warning associated with the job.

After the accounting period ends, Tricia has to recalculate the WIP to include completed work to this point.

To recalculate WIP

On the Job card, on the Navigate tab, in the WIP group, choose WIP Entries to view the WIP calculation.

The Job WIP Entries window shows the WIP entries that were last calculated on a job, even if WIP has not yet been posted to the general ledger.
You can follow the steps in the procedure that explains how to calculate WIP to recalculate WIP. Every time WIP is calculated, an entry is created in the Job WIP Entries window.
Close the window.

Note

Work in Process and Recognition is only calculated. It is not posted to the general ledger. To do so, you must run Post WIP to G/L batch job after you have calculated the WIP and Recognition.

Posting WIP to General Ledger

Now that Tricia has calculated WIP for this job, she can post it to the general ledger.

To post WIP to general ledger

From the Jobs list, select the Deerfield job.
On the Actions tab, in the Functions group, choose WIP, and then choose Post WIP to G/L.
In the Job Post WIP to G/L window, on the Job FastTab, select Deerfield in the No. field.
On the Options FastTab, in the Reversal Document No. field, enter 1.
Choose the OK button to post WIP to the general ledger.
Choose the OK button to close the confirmation window.

After you have completed the posting, you can view the posting information in the WIP G/L Entries window.
In the Jobs list, select the Deerfield job, and on the Navigate tab, in the WIP group, choose WIP G/L Entries.

In the Job WIP G/L Entries window, verify that the WIP has been posted to the general ledger.
Close the window.
Open the Job card for the Deerfield job.
On the WIP and Recognition FastTab, notice that in the Posted column, the Recog. Costs G/L Amount field is now filled in, which indicates that WIP was posted to the general ledger successfully.
Choose the OK button to close the card.

Reversing a WIP Posting

Tricia determines that the job tasks that were excluded from the calculation of WIP should have been calculated in WIP. She can reverse the incorrect postings without having to post new WIP postings.

To reverse a WIP posting

From the Jobs list, select the Deerfield job.
On the Actions tab, in the Functions group, choose WIP, and then choose Post WIP to G/L.
In the Job Post to WIP to G/L window, on the Job FastTab, select Deerfield in the No. field.
On the Options FastTab, in the Reversal Document No. field, enter 1.
In the Reversal Posting Date field, enter the original posting date. It should be the same date that you used to calculate WIP the first time.
Select the Reverse Only check box. This will reverse previously posted WIP, but does post new WIP to the general ledger.
Choose the OK button to run the batch job, and choose the OK button to close the confirmation window.
Open the Job card for Deerfield.
On the WIP and Recognition FastTab, verify that there are no posted WIP entries.
Close this window.
In the Jobs list, select the Deerfield job, choose the Navigate tab, choose WIP, and then choose WIP G/L Entries. The WIP entries have the Reversed check box selected.
Close this window.
Open Job Task Lines for the job, include the parts of the job that should be in the WIP calculation, and then recalculate and post the new value to the general ledger.

Note

Suppose Tricia calculated and posted WIP for a job with incorrect dates. Following the method that was discussed earlier, she can reverse the incorrect postings, correct the dates, and repost to the general ledger.

Next Steps

This walkthrough has taken you through the steps of calculating WIP in Microsoft Dynamics NAV. In larger jobs, it may be useful to transfer the costs to a WIP account periodically while the job is being completed. This walkthrough has shown you how to exclude task lines from a calculation. It also shows you when you would have to recalculate. And finally, this walkthrough demonstrates how to post the WIP to the general ledger. An example of how to reverse a WIP posting to the general ledger is also included.

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