PS _ FI settlement

Question is Related to customer projects.
Our Business Scenario:  Our Clientu2019s major revenue is based on Customer Projects i.e. supply and installation of  equipments at Customer site. For completion of these type of projects, it may take more than 1 one year. Once the Project completes, the Billing will happen with revenue and corresponding cost needs to be transferred to Cost of Projects. Till the time of completion of project, the material and the services utilized for the project will be shown as work in Progress in Books of Accounts.
To handle this scenario in SAP we have proposed the below Process.
Procuring the goods for Projects through normal GR (MIGO) with Mvmt. Type u2013 101 Q (Project stock)
1)        Accounting Doc: Inventory A/c Dr.
               To GR/IR Clearing A/c
Once the GR is made, issue the material to Projects through
movement type 281 (Q) by using  T Code - CNS0. Here the accounting doc is :
2)        WIP Project stock A/c (B/S account)
To Inventory Account Cr.
Once the project is completed, Settle and sell the project to Customer. While doing settlement, the balance in WIP account needs to be transferred to Cost of Projects account. The accounting entry will be :
3)        Cost of Projects (P&L) A/c Dr.
To WIP Project stock A/c (B/S account)
Now the problem we are facing is , when doing settlement, settlement is not happening properly and the required accounting entry is not posting i.e. as mentioned in serial no. 3 above.
Request your help in this regard at the earliest plz.,

Hi,
We need to assign the G/L account in WBSE of the Projects as cost recevier object for settlement of projects. In the transaction CJ02, select WBSE & settlement rule. Then in the category G/L has to be defined & in the settlement receiver the respective G/L account hasto be defined. This will transfer cost incured from WBSE into G/L after settlement.
Regards,
Rakesh Pradhan

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    Edited by: PAVANIDLUR on Mar 30, 2009 9:05 PM
    Edited by: PAVANIDLUR on Mar 30, 2009 9:09 PM
    Edited by: PAVANIDLUR on Mar 30, 2009 9:11 PM

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