Hello.
When we financially complete a project, costs are being booked to the original expense accounts instead of COGS. This is causing an account mismatch against the reversal of revenue recognition, which is booking to COGS.
For example, assume account 7000 is supplies and account 5000 is COGS. If we purchased supplies worth $10 and tagged it to a project, then that $10 initially hits account 7000 then eventually hits WIP. Then when revenue recognition is run, it hits account 5000 COGS. The following period, the rev rec reverses and it hits WIP And COGS. But when the project is financially completed, the posting hits WIP and account 7000 instead of COGS. So there would be a credit in account 5000 but a debit in account 7000, so there is a mismatch.
Is there a way to route cost postings from financial project completion to COGS instead of the original expense account? I would appreciate any thoughts or suggestions.
