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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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