Record Capital Work in Progress using Journal Entry

1

Some debit transactions for CWIP are needed to be recorded in Journal Entry such as petty cash disbursements. Also, there might be credit adjustments to be entered in Journal Entry. However, CWIP accounts are not allowed to be entered in Journal Entry. Is there a way of allowing this?

2

Hi Bernardo,

Simplest is to setup another account under the CWIP Hierarhy on the Chart of Accounts, but not flag it as CWIP. You should then be able to pass Journal Entries against this account and the balances will net up at the group level. The other option is to go to the code and override the filter setting that’s preventing this.

Hope this helps.

Thanks

Jay

3

Hi JayRam
Thanks for the reply.
Setting up another account won’t work since CWIP account is credited in creating the asset record. The user insists on clearing the ledger account itself.
I try to avoid changing the code since those changes are overwritten when upgrading versions.
I’m wondering why CWIP is not allowed in Journal Entry.

Thanks a lot

4

Any specific reason why this restriction is there on restricting the capital work in progress account being updated by Journal entry

Typically in a software startup, there is a trend to accumulate a set of expenses into CWIP till project is completed