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You can use separate accounts by cost element and by WIP accounting class for maximum account traceability. However, if you enter the same account for more than one cost element, the system maintains elemental cost visibility. This is true under both standard and average costing.

Valuation accounts are charged when material is issued to a job or schedule, or when resources, outside processing, or overhead is earned by a job or schedule. They are also relieved when assemblies are completed from a job or schedule. Variance accounts are charged upon job or period close, depending on how the WIP parameters are set (for repetitive schedules) or the type of job, asset, or expense.

See Also

Work in Process Standard Cost Transactions

Work in Process Average Cost Transactions