Entering WIP (Summary)

STEP 1: Enter Company

     Enter Department

     Verify Year and Month

     Page Down

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:

• Select  “Populate WIP”, Select “Current”
  
• Select “Refresh”, Select “Current”, Select “No”
  

If you didn’t post Unposted Costs and/or Unposted Billings then:

• Select “Refresh”, Select “Current”, Select “No”
  
• 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” screen

STEP 9: Go to “Post/Void WIP Adjustment”, Select the “Post” box and Select on “Process WIP”