upload of wip

[Former Member]

Dear PS Masters,

How can we upload the Work In Progress in Project System wise. What are the ways to upload that wip. Can u explan.

Regards

[Former Member · Accepted solution]

Hi,

Please take help from your FI guy regarding this.

It depends whether you are planning to upload only WIP costs or you want to upload material wise.If you want to upload with history just issue by 221 Q to wbs element .Also post other expenses through an FI Entry against the project.Then Run RA system will post a debit entry to WIP Account(B/S Sheet ) and a credit entry to P&L Account.When you are going to invoice system will cancel this entry.

Muzamil

[Former Member · Accepted solution]

Dear muzamil firdosi,

Thanqu for your quick replay, Every month end we need to run the Work in Process then what is the entry, after the complation of the project we need to do the settlement at that time the wip caluculated the previous months was cancelled and Settlement was happend, can u give me the some information on this.

Regards

[Former Member · Accepted solution]

Hi,

Month end activity is to Run RA and then Settlement.

When you are running RA system will calculate WIP,COS,Reserves,Actual Costs,Planned Costs,Actual Revenues,Planned Revenues etc.

So after booking cost to project by 281 Q or 221 Q,Labor hrs posting by conformation or CATS,Services entry sheets Acceptance and other expenses:

1. WIP B/S dr and WIP P/L cr.

When you bill to customer or you TECO Project,that time the entry 1 will be cancelled.

Thanks

Muzamil

[Former Member]

answered

[Former Member]

Hi,

You may do it using Result Analysis for project. Transaction code KKA2/KKAJ. The prerequisite is that Result Analysis is customizing for your projects.

Kind regards, Aleksandra