Urgent: WIP?


R

Rob Meade

Hi all,

Just had a list of adjustments back from the accountant to put through
Sage...

There's an item on there I'm not sure about - ie, I dont know what it is -
I've not been able to contact him and was hoping to complete the adjustments
today, I was hoping someone might know - ie, perhaps its a common
abbreviation in the accountancy world?

I have been asked to make the following adjustment:

Nominal Code Debit Credit
4001 - Wip Adj 450.00
- Wip Adj 450.00

The second line has no nominal, I guess he didn't know what numbers I use -
the first though in Sage (previously unused by myself) - is Sales Type B -
I'm assuming again that perhaps he just guessed the code but I dont know..

I've been trying to work out what WIP could stand for...Wages Interest
Payment?

Anyone got any ideas? Sorry this is a bit vague..

Regards

Rob
 
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P

Peter Saxton

Hi all,

Just had a list of adjustments back from the accountant to put through
Sage...

There's an item on there I'm not sure about - ie, I dont know what it is -
I've not been able to contact him and was hoping to complete the adjustments
today, I was hoping someone might know - ie, perhaps its a common
abbreviation in the accountancy world?

I have been asked to make the following adjustment:

Nominal Code Debit Credit
4001 - Wip Adj 450.00
- Wip Adj 450.00

The second line has no nominal, I guess he didn't know what numbers I use -
the first though in Sage (previously unused by myself) - is Sales Type B -
I'm assuming again that perhaps he just guessed the code but I dont know..

I've been trying to work out what WIP could stand for...Wages Interest
Payment?

Anyone got any ideas? Sorry this is a bit vague..

Regards

Rob
Work in Progress

I would guess that the accountant means that the year end stock has
increased by 450 from the previous year but you really have to ask the
accountant.

If you don't recognise WIP then I would ask the accountant to check
your entries before closing the books.
 
R

Rob Meade

Work in Progress
I would guess that the accountant means that the year end stock has
increased by 450 from the previous year but you really have to ask the
accountant.

If you don't recognise WIP then I would ask the accountant to check
your entries before closing the books.
Hi Peter,

Thank you for your prompt reply.

I did a little Googling after posting and found the same abbreviation so
assume he's put it down to that..kind ties in with the Sales Type B I
guess...

I will check with him though - many thanks.

Regards

Rob
 
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J

Jon Griffey

Rob Meade said:
Hi Peter,

Thank you for your prompt reply.

I did a little Googling after posting and found the same abbreviation so
assume he's put it down to that..kind ties in with the Sales Type B I
guess...

I will check with him though - many thanks.

Regards

Rob
Might be new this year due to UITF40.
--
Jon Griffey FCCA CTA
Hackett Griffey
Chartered Certified Accountants & Registered Auditors
2 Mill Road, Haverhill, Suffolk, CB9 8BD

Tel (01440) 762024

www.hackettgriffey.com

See website for disclaimers
 

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