Parameter Setup
This feature is not controlled by a parameter. However, the aging periods has to be defined by which the WIP aging will be executed. Using this setup, a periodic report is generated that categorizes a company’s WIP revenue that has been outstanding.
Go to Project billing > Setup > Aging period definitions
WIP aging report by project
This new report displays project revenue WIP amounts by aging periods. WIP balances will be grouped by project and can rollup the values per main project based on the parameter while generating the report. Users can view the data based on project, project contract and responsible person.
Details of the fields available on the WIP aging periodic form are below.
| Fields | Description |
| Aging as of | Select a date used on the current aging bucket. |
| Balance as of | Select a date to view the WIP balances for. |
| Aging definition period | Select aging definition period. |
| Criteria | There are 2 options. Transaction date – WIP aging report will be generated based on the transaction project date. Ledger date – WIP aging report will be generated based on the transaction ledger date. |
| Print aging period description | Select as ‘Yes’ if aging period description has to be printed on the WIP aging balance report. |
| Main project rollup | Set this parameter to ‘Yes’, to view the WIP balances rolled up main project. |
| Negative WIP auto settlement | Set this parameter to ‘Yes’, to allocate the negative WIP across periods with positive WIP for that project if any. Note: Important to set as ‘Yes’ for Progress fee type. |
| Exclude zero WIP balance | Set this parameter to ‘Yes’, to allocate the negative WIP across periods with positive WIP for that project if any. |
| Exclude finished projects | Set this parameter to ‘Yes’, to exclude the projects with finished status. |
WIP aging report by project
This report displays project revenue WIP amounts per project. user can view project name, contract name, responsible person and the WIP amount per aging periods select while executing the report with Grand total amount.
