• Before you close out the month...
• Reconciling the accounts receivable
• Steps to ensure that the amounts agree
• Reconciling the WIP
• Steps to ensure that the amounts agree
• Reconciling an unapplied cash receipt

Steps to ensure that the WIP amounts agree

For further verification or if the WIP amounts don't agree, you can perform a comparison of the supporting reports:

1. Verify the "Billable time during period" hours and amount of the WIP reconciliation report with the "Total Billable" amounts of the "Time analysis - summary" document.
2. Verify the "Billable expenses during period" " hours and amount of the WIP reconciliation report with the "Total Billable" amounts of the "Expense analysis - summary" document.
3. Verify the "Carry forward during period" amount (if applicable) of the WIP reconciliation report with the "carry forward" amount of the "Work in process total" document for the period.
4. Verify the "WIP invoices during the period" amount of the WIP reconciliation report with the applicable amount in the "Invoice Analysis - summary" document. This document includes all the invoices for the period. In order to see the WIP invoices only, use the filter LTRIM([Receivables].[Source]) is equal to 'W' in the filter line of the properties of the document before processing.

Note: To build filter calculations easily, use the Equation Editor. Click to access it.

5. Verify the "Write up (down) during period" of this document with the write up/down amount of the "Invoice Analysis - summary" document.

Note: If the carry forward amount exists for the period, this amount is not included in the write up/down amount of the invoice analysis document. The actual write up/down amount can be verified using the following calculation: "Write up (down) during period" - "Carry forward during period" = Write up/down (in invoice analysis document).

6. Verify the amount reported as "Adjustments during period" with the "adjustment" amount of the "Work in process total" document for the period.
7. The "Balance, end of period" amount should agree with the ending balance of all the WIP documents for example "Work in process total" document.

Related Topics

• The WIP Reconciliation Report