Construction Accounting | Percentage of Completion

1

Hi Team, A Construction entity incur cost and records it as Capital Work in Progress - CWIP. On the other hand, all sales are recorded as Deferred Income. At the end of financial period, it has to recognize Revenue and Cost of Construction - CoC based on % of Completion of the project.

Is there any process/provision in the system through which both Revenue and CoC can be auto record like Inventory cost; other than manual JVs.

I would appreciate your assistance to understand it.

2

There is no facility in Manager to handle that automatically

This seems more like an accounting query than a Manager query

3

@Joe91 thank you for your response. Yes, I would like to clarify if I was missing anything in Manager functionality to I can opt for that but its not there.

Can Manager team plan to consider it as Construction is also one of the industry segment.