Entering WIP (Summary)
Entering WIP (Summary)
STEP 1: Enter Company
Enter Department
Verify Year and Month
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STEP 2: Select “Store Forecast” for any projects that
Forecasts have not been stored for.
STEP 3: Put all your entries in:
- Contract Override
- Projected Cost Override
- Unposted Costs, to true-up Spent if needed
-
Unposted Billing, to true-up Billings if needed
STEP 4: Post Unposted Costs and Billings if needed
STEP 5: If you posted Unposted Costs and/or Unposted
Billings then:
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Select
“Populate WIP”, Select “Current”
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Select “Refresh”, Select “Current”, Select “No”
If you didn’t post Unposted Costs and/or
Unposted Billings then:
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Select “Refresh”, Select “Current”, Select “No”
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Select
“Populate WIP”, Select “Current”
STEP 6: Check Over/Under. If not correct go back and
check figures in Step 3 above and repeat
STEP 7: Select “Time Phased”
Select “Synchronize” if needed
Select “Accept”
Make sure “Revenue Amt” matches against
“Earned Revenue”
STEP 8: Select Accept
Check “Earned Revenue” on “WIP Adjustment”
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STEP 9: Go to “Post/Void WIP Adjustment”, Select the “Post”
box and Select on “Process WIP”