Project WIP Page
There is a special page just for the WIP calculation accessed from the Project Card by choosing the WIP action on the Processing menu.
The fields and actions on the Project WIP page are described in the following sections.
Fields on the Project WIP page
The fields that are specific to COSMO Project Manufacturing are described in the following table.
| Field | Description |
|---|---|
| WBS / Description / Sales Code | Defaults from the Project Budget Calculation page. |
| Calculation Total Cost (LCY) | Transferred from the Total Cost Budget (LCY) field on the Project Budget Calculation page. |
| Calculation Total Price (LCY) | Transferred from the Sales Line Amount Budget (LCY) field on the Project Budget Calculation page. |
| Total Price Released (LCY) | Transferred from released sales orders; used to calculate the WIP Amount. |
| Procurement Total Cost (LCY) | Displays the total cost of procurement (in local currency) from the processed procurements assigned to the sales position. |
| Expected Total Cost (LCY) | Used to calculate the WIP Amount. This is calculated using the calculation values, released sums and/or estimates. You can decide which amounts should be included. |
| Expected Total Price (LCY) | Used to calculate the WIP Amount. This is calculated using the calculation values, released sums and/or estimates. You can decide which amounts should be included. |
| Total Cost Usage SP (LCY) | Sum of the posted usage costs in the Project Ledger Entries; used to calculate the WIP Amount. |
| WIP Total Cost Usage SP (LCY) | Sum of the posted usage costs in the Project Ledger Entries; used to calculate the WIP Amount. NOTE: This is used if WIP is calculated independently from the Sales Code. |
| Total Price Posted (LCY) | Sum of the posted sales amounts in the Project Ledger Entries; used to calculate the WIP Amount. |
| WIP Method | Determines how WIP is calculated. The options are Cost Value, Sales Value, Cost of Sales, Percentage of Completion, and Completed Contract. NOTE: The Cost Value and Cost of Sales options use the same calculation logic. |
| Last WIP Date | Indicates the last date on which WIP was calculated. |
| WIP Amount (LCY) | Displays the calculated WIP amount (in local currency) between the last and the current WIP date. |
| WIP Inv. Sales Amount (LCY) | Displays the calculated WIP amount (in local currency) for all posted sales values when using WIP Method = Completed Contract. For more information, see Completed Contract. |
| Prospective Cost (LCY) | Displays the calculated amount (in local currency) for future expenses between the last and the current WIP date. |
| Impending Losses (LCY) | Displays the calculated amount (in local currency) for pending losses between the last and the current WIP date. |
| WIP Not Posted | Indicates if WIP has been posted. |
| Outline Code | Defaults from the Project Budget Calculation page. |
| Comment | Indicates if a project comment line exists for the WBS position. |
| Type / No. / Work Type Code / Quantity / Unit of Measure Code | Defaults from the Project Budget Calculation page. |
| Estimated Total Dir. Cost (LCY) | Indicates the estimated total direct cost (in local currency); this field is editable. |
| Estimated Total Cost (LCY) | Indicates the estimated total cost (in local currency); this field is editable. |
| Estimated Total Price (LCY) | Indicates the estimated total price (in local currency); this field is editable. |
| Responsible | Identifies a resource (person or group) that is responsible for the WBS position. |
| Realized % Based on cost | Displays the completion level at the WBS position level; non-editable field that is calculated over substructures. |
| Project Posting Group | Defaults from the Project Card. |
| Invoicing Total Price RF (LCY) | Transferred from posted sales invoices; used to calculate the WIP Amount. |
| Cost of Sales (LCY) | Displays the calculated amount (in local currency) for revenue-based WIP (see the WIP Revenue-Based (LCY) field in the Project Line WIP Entries page). |
| WIP Total Price Posted (LCY) | Sum of the posted sales amounts in the Project Ledger Entries; used to calculate the WIP Amount. NOTE: This is used if WIP is calculated independently from the Sales Code. |
| WIP Total Cost Proc. SP (LCY) | Displays the total cost of procurement (in local currency) from the processed procurements assigned to the sales position. NOTE: This is used if WIP is calculated independently from the Sales Code. |
| WIP Total Price Released (LCY) | Transferred from released sales orders; used to calculate the WIP Amount. NOTE: This is used if WIP is calculated independently from the Sales Code. |
Action Bar
The action bar includes actions specific to COSMO Project Manufacturing. Each is described in this section.
| Action | Description |
|---|---|
| Calculate and Post WIP | Opens the Calculate WIP batch job, which calculates the project value for all sales positions with a Sales Code (see Calculate WIP). |
| WIP Entries | Opens the Project Line WIP Entries page, which displays posted entries for the selected WIP line. |
| WIP G/L Entries | Opens the General Ledger Entries page, which displays posted G/L entries for the selected WIP line. |
Actions Menu
WIP processing includes the ability to cancel posted WIP Entries and reverse WIP upon project completion. The actions are described in the following table.
| Action | Description |
|---|---|
| Cancel WIP-Posting | Cancels the last WIP posting with a reversal posting for the complete project. This function creates new Project Line WIP Entries with reversal amounts with the same date as the last posting. In the new Project Line WIP Entries, the Canceled checkbox will be selected. This function will only be available if the WIP Posted checkbox is selected in the last Project Line WIP Entry. |
| Reverse WIP | Reverses the complete WIP including prospective cost and impending losses for the complete project. This function creates new Project Line WIP Entries with reversal amounts with the Work Date. It is possible to automate this process when changing the status of a project to Completed based on the setting in the Auto. Reverse WIP field on the Project FastTab in the Projects Setup page (see Project FastTab). |
| Delete unposted WIP | Deletes unposted WIP entries for the complete project. |
Related Menu
The actions on the Related menu are described in the following table.
| Menu | Action | Description |
|---|---|---|
| Line | Position Card | Opens the Project Position Card page, which provides a card view of all the information in the Project WIP page for the selected WBS position. |
| Dimensions | Opens the Project Line Dimensions page, which shows dimensions relating to the selected WIP line. | |
| Comments | Opens the Project Comment Lines page, where existing comments can be viewed or new comments can be added for the selected WIP line. | |
| Views | Rolling Calculation / Budget Calculation / Planning and Processing / Sale | Provides direct access to the other page relating to the project. Each page is described in more detail in other topics. |
Calculate WIP
This batch calculates the project value for all sales WBS positions. These are all lines with a sales code. There are different options for calculation. After calculation (or at the same time with calculation) the calculated values can be posted to G/L.
Several valuation options can be selected which will influence the maximum value of WIP.
Choose the Calculate and Post WIP action to start the calculation.
The fields on the Calculate WIP request page are described in the following table.
| Field/Field Group | Description |
|---|---|
| WIP Date | Indicates the date on which WIP is to be calculated/posted. |
| Cost Value / Sales Value | Cost and Sales Values are calculated using the calculation values, released sums and estimates. Turn on the toggles to determine what is included in the calculation. |
| Calculate | Turn on to start the calculation of the WIP values. |
| Post | Turn on to post the calculated WIP values to the general ledger. |
The Calculate and Post WIP batch job can be used to post the calculated values, which will create the G/L entries.
See Also
Project Evaluation
Project Posting Groups
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