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Each Job Transaction contributes to the Work in Progress (WIP) Cost and WIP Recovered calculated for a Job from the period of the transaction up to the period the transaction is set as complete for Work In Progress. Where WIP Cost is JCTran.ExtendedCost and WIP Recovered is either JCTran.InvoicedCost or JCTran.InvoicedSellBs depending on the WIP Basis in Job settings.
WIP is calculated at the Job level on a period by period basis, where WIP Cost is greater than WIP Recovered as at the Period.
Completing a Job completes all transactions for the Job which were not previously complete for WIP clearing the WIP for the Job.
WIP is journaled between GL Closing Work In Progress and GL Work In Progress accounts specified in the Job Groups. Integration to GL for WIP is optional.
In Job Settings you can specify per JC Transaction Type whether Transactions should be included in WIP by default. Non WIP transactions are set Complete for WIP in the period they are entered in.
WIP can be reported using the WIP Summary and WIP Detail report layouts.