Work in Progress workpaper (WIP)

How the WIP workpaper is populated and how the auto-triggered opening and closing WIP journals work.

The Work in Progress (WIP) workpaper reconciles the opening WIP balance, records the closing WIP balance based on client-provided figures, and auto-triggers the necessary journal entries. The workflow mirrors the Stock on Hand (SOH) workpaper.

Data extraction

Automatically populated based on the current year General Ledger (GL) Details for all account codes mapped to Work in Progress in Chart of Accounts (CoA) mapping.

Section structure

Single section covering all account codes mapped under Work in Progress in CoA mapping.

Auto-triggered journals

Like the Stock on Hand workpaper, there are auto-triggered journals for:

  • Reversal of the opening WIP
  • Recording of closing WIP: The user must validate or modify the values as advised by the client.

Always validate the closing WIP figure with the client before finalising. The system cannot verify the current year-end WIP value on its own.

Balance per GL

Sum of all account codes mapped under Work in Progress in CoA mapping.

How to access

  1. Go to Jobs and open the relevant job.
  2. Click the Workpapers Icon or navigate to Results then Workpapers.
  3. WIP on the Workpapers Dashboard.