How to post and unpost WIP Takeups
With just a few clicks, you can post or unpost WIP Takeups on our platform.
Post a WIP takeup
Steps:
- Navigate to ACCOUNTING > General Ledger > WIP Take Ups.
- The Search WIP Take Ups page will be displayed.
- Use the Filters to narrow down your search, or scroll through the list of WIP TAKE UP NO.
- Select the unposted WIP Take Up No. that needs to be posted.
- Click POST.
- You can also click the box to the left of the WIP takeup number to POST the transaction.
- A notification will appear on the bottom of the page confirming the action.
Until a WIP Take Up has been posted, it has no accounting impact and is not included in system reports. Once a revenue take-up has been completed and checked, it should be marked as approved, which invokes the following actions:
- The revenue takeup is ‘posted’ to the general ledger (a journal entry is created in the general ledger).
- The Production WIP sub-ledger is updated to include the details of the revenue takeup.
- The revenue takeup is locked so that it can’t be deleted.
Unost a WIP takeup
Steps:
- Navigate to ACCOUNTING > General Ledger > WIP Take Ups.
- Use the Filters to narrow down your search, or scroll through the list of WIP TAKE UP NO.
- By default, the system will show unposted transactions only. Change the SHOW POSTED? filter to Posted Only.
- Select the WIP Take Up No. that you wish to unpost.
- Click UNPOST.
- You can also click the box to the left of the accrued revenue number to UNPOST the transaction.
- A notification will appear at the bottom of the page confirming that the transaction has been unposted.