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How to write off or recognize revenue

Entire job balance can be written off to expense or taken up to revenue

1.     Navigate to ACCOUNTING > General Ledger > WIP Take Ups

2.     Select CREATE A NEW WIP TAKE UP

3.     This will load the start page for the WIP Take Up Wizard

From this page, the entire job balance can be written off to expense or taken up to revenue. Check the box next to the job then click on the Take Up button. The system will display the WIP Take Up Wizard.

Screen Shot 2023-03-28 at 2.29.22 PM-1

Notes:

1) The job field is uneditable in the WIP Take Up Wizard, if coming from the Job Cost & Billing Summary page. The system carries the job based on the check mark from the Job Cost & Billing Summary page.

2) WIP Take Ups from the Job Cost & Billing Summary page are for the entire job balance. Therefore, the system pre-selects the Job Balance option in the WIP Take Up Wizard.

Enter or amend details on this page. Click here for a detailed overview of the WIP Take Up Wizard.

Once complete, click on the NEXT button and the system will display the Search WIP Take Ups page. Search for the take up by filtering on Unapproved Only. Select the take up records to be approved by checking the box to the left and clicking on the APPROVE button.

Screen Shot 2023-03-28 at 2.49.46 PM

WIP Take Up records must be approved in order to make a financial impact. Unapproved WIP Take Up records will not affect expenses or revenue.