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Job Close Transactions

Until you close a job, or change the status of the job to Complete - No Charges, you can make material, resource, and scrap charges to the job. Closing a discrete job prevents any further activity on the job.

Costing Job Close Transactions

Work in Process recognizes variances when you close a job. The actual close date you specify determines the accounting period Work in Process uses to recognize variances. You can back date the close to a prior open period if desired.

The close process writes off the balances remaining in the WIP elemental valuation accounts to the elemental variance accounts you defined by accounting class, leaving a zero balance remaining in the closed job.

If there is a positive balance in the job at the end of the close, the accounting entries for a job close are:

Account Debit Credit
WIP accounting class variance accounts XX  
      WIP accounting class valuation accounts   XX

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