Work Order Close expense
Summary:
What are the accounting entries when a Work Order is canceled and then Closed?
In this case, all inventory issued (WIP Issue) were returned (WIP Return) and there is no resource charge on it.
What will be accounting entries in this case, for event type 'Work Order Close Expense' , against 'Work-in-process valuation' and 'Expense' accounts?
Will there be any credit and debit amounts in this case, since all inventory issued were returned and all we are doing is canceling and closing it (and no product completion) ? I was hoping it to be zero but seeing some amounts in this case and would like to know if anyone has come across this scenario or knows how to handle this?
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