STEP 1

Start the transaction FB50

  1. Document and Posting date (Closing month)
  2. Accounts to post the WIP
  3. Posting Key (Debit or Credit)
  4. Amount of WIP
  5. Order in Work in Progress

WIP Calculation

Make sure that you have previously calculated the WIP and collected the orders in WIP

 

 

STEP 2

Post WIP journal  using the following accounts:

Cost Account: 98350200

G/L Account: 34000200

 

Posting Keys

The cost account should be credited and the G/L account debited.

 

The cost account must have a cost object assigned which will be the order that was previously calculate as Work in Progress (WIP). 

Post the journal to the closing month (M)

 

Save the document clicking on  and you will get the document number that you have just posted. 

 

Reverse WIP

After posting the Work in Progress you must reverse it on following month. Ensure that next step is also done.