Costpoint Online Help

Using the Help Search
Using the Help Search
  • Phrase:Returns all topics that contain the exact phrase in the search criteria. Use quotation marks around the phrase.
    Ex."system administration"
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    Ex.system + administration
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    Ex.system administration
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Revenue Greater than Zero

If you use this method, the total WIP costs are used as the inception-to-date COGS if the revenue is greater than zero. If the revenue on the project is zero, no COGS journal entry is created.

Costpoint sums the TOT_REV_TGT/ACT_AMT (depending on whether target or actual is selected in the screen) in the PROJ_SUM table and determines whether the revenue exceeds zero. If the revenue exceeds zero, the SUB_DIR_AMT and SUB_ACT/TGT_BURD_AMT is summed for all labor, non-labor, unallowable-labor, unallowable non-labor, and units functions codes. This amount becomes the Total WIP costs, and it is used as the COGS entry. 

The balance of the general ledger account designated with the WIP TRANS OUT Function Code for that project's account group is summarized for the fiscal year and period of calculation. Costpoint subtracts this amount, which is the COGS already posted for the year, from the Total WIP Costs calculated previously to arrive at the amount to post. The owning organization of the project is used for calculation and posting purposes.

Because this formula uses total revenue as part of its calculation, you must compute all revenue for the period before running the Create Cost of Goods Sold Entries screen. If the revenue on the project that is at or below the level of the cost of goods sold formula is greater than zero, Costpoint uses the Total WIP Costs for the COGS entry.