WIP Return Transaction Did Not Reverse The WIP Material Variance Account Entries.
(Doc ID 2748431.1)
Last updated on FEBRUARY 07, 2021
Applies to:Oracle Work in Process - Version 12.2.8 and later
Information in this document applies to any platform.
We did a job in the system, completed it but did not close it. Materials were then issued to the the same job(WIP Issue). This caused a variance to be posted in the WIP Material Variance Account. Once the mistake was realized we did WIP Returns, returning the items back to the inventory.
We expected this reverse transaction to clear the accounting entries that were posted in the WIP Variance account but it did not.
Kindly advise on how we should proceed to reverse/clear this entries.
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