Setting Default WIP Accounts

NetSuite WIP enables you to set default preferences for new item records. To set preferences, , and then

To set default WIP accounts:

1. Go to Setup > Accounting > Accounting Preferences.

2. Click the Items & Transactions subtab.

3. Set the following accounts:

   • Default WIP Cost Variance Account – The selected account appears by default in the WIP Cost Variance Account field on item records. This is an expense account for actual or average cost assemblies when the reconciliation amount cannot be returned to the asset account. This happens when the amount has been shipped. This account is required if WIP is checked for any location.

   • Default Scrap Account – The selected account appears by default in the Scrap Account field on item records. This is an expense account for scrapping that occurs during the work order completion. This account is required if WIP is checked for any location.

   • Default WIP Account – The selected account appears by default in the WIP Account field on item records. This is an asset account used when a work order component issue is entered. This account is required if WIP is checked for any location.

4. Click Save.

Related Topics

Enabling the WIP Feature

Setting Up Items as WIP Assemblies

Using WIP on Work Orders

Associating Components with Operations

Entering a Completion for an Individual Work Order

WIP and Inventory Costing

Manufacturing Work In Process (WIP)

General Notices