Transaction Processing › Work-in-Progress › Work-in-progress Adjustments

Work-in-progress Adjustments

Transactions posted to WIP are available for WIP adjustments and department invoicing. With WIP adjustments, you can modify and correct posted WIP transactions. You can update, reverse, or transfer posted WIP transactions.

A WIP adjustment ensures that the correct amount is recorded and eligible for chargebacks. Posted WIP transactions must meet the following criteria in order to adjust them:

• Has been posted to WIP
• Previous adjustments have been approved or rejected
• Is not currently in the WIP adjustment process
• Has not been invoiced
• Has not been reversed
• Has not been closed

Note: If any of these criteria are not met for a transaction, it cannot be adjusted.

When you enter a WIP adjustment, a transaction is added that references, not replaces, the original transaction. This adjustment transaction is placed on hold and is made unavailable until it is approved or rejected.

WIP adjustments are available for reporting before WIP approval. WIP adjustments are processed in the natural currency amount. If multi-currency is enabled, each time a WIP adjustment is entered, the currency amounts are updated with the exchange rates based on the original transaction date. You can enter negative values in a WIP adjustment.

More information:

Modify Posted Work-in-progress Transactions

Reverse Posted Work-in-progress Transactions

Transfer Work-in-progress Transactions