The following tables provide an example of posting a fixed-price project.
Ledger posting examples
|
Project group parameters |
Assessment principle |
Matching principle |
On-account invoicing |
|---|---|---|---|
|
Completed percentage |
Sales value |
Balance |
Statistics - Before estimate posting
|
Statement P&L |
Positive amount |
Jul |
Aug |
Sept |
Oct |
Nov |
Dec |
Total |
|---|---|---|---|---|---|---|---|---|
|
Accrued revenue - Sales value |
Credit |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
|
Revenue |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
|
|
Cost |
Debit |
12,000 |
30,000 |
24,000 |
36,000 |
18,000 |
0 |
120,000 |
|
Gross margin |
-12,000 |
-30,000 |
-24,000 |
-36,000 |
-18,000 |
0 |
-120,000 |
|
Statement WIP (Balance) |
Positive amount |
Jul |
Aug |
Sept |
Oct |
Nov |
Dec |
Total |
|---|---|---|---|---|---|---|---|---|
|
WIP - sales value |
Debit |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
|
Gross WIP |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
|
|
WIP - Invoiced - On account |
Credit |
80,000 |
0 |
50,000 |
0 |
70,000 |
0 |
200,000 |
|
Net WIP |
-80,000 |
0 |
-50,000 |
0 |
-70,000 |
0 |
-200,000 |
Posting of estimate
|
Statement P&L |
Positive amount |
Jul |
Aug |
Sept |
Oct |
Nov |
Dec |
Total |
|---|---|---|---|---|---|---|---|---|
|
Accrued revenue - Sales value |
Credit |
20,000 |
50,000 |
40,000 |
60,000 |
30,000 |
0 |
200,000 |
|
Cost |
Debit |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
|
Statement WIP (Balance) |
Positive amount |
Jul |
Aug |
Sept |
Oct |
Nov |
Dec |
Total |
|---|---|---|---|---|---|---|---|---|
|
WIP - sales value |
Debit |
20,000 |
50,000 |
40,000 |
60,000 |
30,000 |
-200,000 |
0 |
|
WIP - Invoiced - On account |
Credit |
0 |
0 |
0 |
0 |
0 |
200,000 |
0 |
Statistics - After estimate posting
|
Statement P&L |
Positive amount |
Jul |
Aug |
Sept |
Oct |
Nov |
Dec |
Total |
|---|---|---|---|---|---|---|---|---|
|
Accrued revenue - Sales value |
Credit |
20,000 |
50,000 |
40,000 |
60,000 |
30,000 |
0 |
200,000 |
|
Revenue |
20,000 |
50,000 |
40,000 |
60,000 |
30,000 |
0 |
200,000 |
|
|
Cost |
Debit |
12,000 |
30,000 |
24,000 |
36,000 |
18,000 |
0 |
120,000 |
|
Gross margin |
8,000 |
20,000 |
16,000 |
24,000 |
12,000 |
0 |
80,000 |
|
Statement WIP (Balance) |
Positive amount |
Jul |
Aug |
Sept |
Oct |
Nov |
Dec |
Total |
|---|---|---|---|---|---|---|---|---|
|
WIP - Sales value |
Debit |
20,000 |
50,000 |
40,000 |
60,000 |
30,000 |
-200,000 |
0 |
|
Gross WIP |
20,000 |
50,000 |
40,000 |
60,000 |
30,000 |
0 |
200,000 |
|
|
WIP - Invoiced - On account |
Credit |
80,000 |
0 |
50,000 |
0 |
70,000 |
-200,000 |
0 |
|
Net WIP |
-60,000 |
50,000 |
-10,000 |
60,000 |
-40,000 |
0 |
0 |
