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You can choose the option to use job and project loss recognition if you are using Percentage of Completion as the revenue recognition method. See Choosing posting options for See Choosing Posting Options for information on the other posting options in this window.
- Choose Microsoft Dynamics GP > Tools > Setup > Job Cost > Job Cost Setup > Posting Options.
- Mark the Use Job and Project Loss Recognition check box checkbox.
- Mark the Automatically include all jobs and projects in a loss situation check box checkbox if you do not want to manually mark jobs and projects for inclusion in the loss recognition journal entry. If you choose this option, any job or project that qualifies will be automatically marked for inclusion when the Loss Recognition Edit List is printed.
- If you want to include billings in the calculation for the loss recognition journal entry, mark the Include Billings in Loss Recognition check box checkbox. See the example above for more information on including billings.
- Choose Save.
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- Choose Cards > Job Cost > Job. The Job Maintenance window opens.
- Choose the job that you want to include in the journal entry.
- Mark the Include in Loss Recognition check box checkbox to include the job in the loss recognition journal entry for the current period. This check box checkbox is disabled if the Use Job and Project Loss Recognition posting option is turned off.
- Choose Save.
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- Choose Cards > Job Cost > Project to open the Project Maintenance window.
- Choose the project that you want to include in the journal entry.
- Mark the Include in Loss Recognition check box checkbox to include the project in the loss recognition journal entry for the current period.This check box checkbox is disabled if the Use Job and Project Loss Recognition posting option is turned off.
- Choose Save.
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