No matter how I enter a Asset Capitalization entry i.e. either choosing a new composite asset or a CWIP composite asset, the accounting is exactly the same. Except that asset for CWIP is saved in draft mode. Shouldn’t CWIP be debited in the JV rather than in Fixed Assets directly if I am choosing a WIP asset as the option?
The item being used is a fixed asset item which is under an asset category which has CWIP accounting turned on.