I am looking at implementing Project WIP for the first time and would like to draw on the experience of others. This is just using Projects in the Enterprise Edition and not the Construction Edition.
I have worked through the allocations process to transfer costs to the WIP account. This looks like it will create a lot of additional transactions - credit every cost and then re-debit it on release of AR Invoice. Is it best to have the allocations created for every transaction or periodically to reduce the transaction volumes (eg on a daily basis)?
I don’t see any standard WIP reports in the Project reports. Are there any available to assist with reconciliation of Project WIP to the Balance Sheet accounts?
Any other suggestions or advice to have the WIP process flow efficiently and well for users?