Work in Progress Ledger


Overview

This section includes all the maintenance and viewing of the accounts and associate trade details that comprise the Work-In-Progress ledger. This ledger acts as a stock and incomplete contracts accounting ledger and fulfills the necessary linkages with trading records, both physicals and terminal.  By use of automated sales invoicing where the sales P&L is removed directly to the realised ledger, the results in the WIP account is 'current stock' less any late costs. It is possible, using the CTA feature in DOCENT, to post the missing accruals for fiscal purposes with their automatic reversal at commencement of the next fiscal period. However the management P&L subsystem handles that situation without ledger updates and will provide reconciliations throughout the life of the WIP account. Month-end P&L accrual processes are also available.

Contents of Work in Progress Ledger

  • WIP - Account Maintenance/Enquiry

    Jump to Stocks Technical See Also Stock Trace Administration What is WIP is the Work-in-Progress Ledger maintenance procedure with several enquiry styles for accounting/TRADE and P+L performance analysis. A WIP account/profile can be used when ...

  • WIPLIST - Financial listing for WIP accounts

    What is WIPLIST These report styles allow the user to analyse the WIP ledger to provide trial balance type reports for the WIP control account in the BAL. The form can be totals only by ...

  • WSTATUS - Account Financial Status

    What is WSTATUS This procedure compliments the WIP/Tx by Expense feature. There are several filters for restricting the volume of WIP accounts reported and whether they should be combined by the stem part of their ...

  • MATWIP - Account Transactions Matching

    What is MATWIP Reconciliations either with external sources or for internal control are needed for many different types of accounts e.g. a Work In Progress account may represent a stock unit that is continuous in ...

  • CHARTPOS - Vessel/Charter Positions

    What is CHARTPOS CHARTPOS allows the user to view the current status of charters applying the dates that have been maintained by CHARTERS and TRADE. Only CHARTERS that have TRADE(s) assigned with either a Load ...