If you need to post End of Month WIP amounts, first, go to the WIP Aging Report.

• In Production menu, navigate to Orders and choose WIP Aging Report from the drop-down menu.
• Then set the ‘Show Totals’ checkbox on that report and enter opening date in Pick date field.
• Click Submit. You will find WIP totals for Materials and Labor at the bottom of the page.

To post the End of Month WIP amounts in a ledger entry, you must first create the WIP-Labor and WIP-Materials GL Account(s).

• To set them up, navigate to Accounting and Chart/Ledger, choosing Account List from the drop-down menu.
• Then click the blue Create Account button and fill out the Account Parent (Other Current Assets), Account Name and Account Number fields.
• Click Create button.
• Repeat the process to set up another WIP GL account, i.e. one for WIP-Labor & one for WIP-Materials.

You’ll then make a manual ledger entry dated the last day of the month and reversal on the 1 of following month.

• Navigate to Accounting and Chart/Ledger, choosing Ledger from the drop-down menu.
• Now click the blue Add Entry button.
• Enter an Entry Name and click the Transaction Date to change date to the last day of the previous month.
• Now enter the WIP Materials GL account to debit for the total on the WIP report.
• Next Enter Notes or repeat Entry Name.
• Then enter WIP Materials Debit amount from the WIP report for materials.
• Now, choose the WIP Labor account and enter Notes or repeat Entry Name.
• Enter the WIP Labor Debit amount from the Aging Report and click the blue Add Split button.
• Next enter the Current Asset Inventory GL Account to Credit for the WIP Materials total, entering Notes or repeat Entry Name, then again clicking the blue Add Split button.
• Now, enter the COGS Labor GL account and enter Notes or repeat Entry Name.
• Enter the WIP labor Credit amount from the WIP report for Labor
• Next click the blue Reverse Entry? button for the option to reverse the end of month WIP entry on the first day of the following month.
• In the new screen you will see a date box to change the Reverse On date to the first of the following month.
• Then click the red Reverse Entry? button to complete.
• You can view the ledger impact of the WIP entry by clicking on the Summary View link in the upper left menu.
• The ledger impact is Materials amount DR to WIP Materials, CR Inventory Labor amount DR WIP Labor, CR COGS Labor.
• You can view the ledger impact of the reversing entry by clicking the blue Entry link on the bottom right.
• The ledger impact of the reversal Credits the WIP Materials and WIP Labor accounts, Debits Inventory and COGS Labor accounts, and completes the process.