You're almost there! Please answer a few more questions for access to the Applications content. Complete registration
Interested in joining? Complete your registration by providing Areas of Interest here. Register

Project Costing clearing account

Received Response



I'm wondering if somehow the capitalization can generate accounting from project costing. The thing is that the bussiness have defined 3 different templates, and this templates have a different clearing account besides the fixed assets, give you the sample:

When an Invoice is registered as project:

AP :

1601901 (Clearing project account) Dr.

2011301 (Account payables ) Cr.

When the project is being capitalized

PC ---> Transfer Assets

The accounting process is on Assets module and it's like the following:

1501101 (Cost of asset) Dr.

1691101 (Assets Clearing Account) Cr.

And then the users enter a manual journal to clear the accounts as following:

1691101 (Assets Clearing Account) Dr.

Howdy, Stranger!

Log In

To view full details, sign in.


Don't have an account? Click here to get started!