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Life-Trust
Level 1
posted
‎September 26, 2019 04:21 PM
last updated ‎October 05, 2020 8:10 PM

I would like to track the cost of several constructions. Do I need to set up for each building different CIP accounts with subaccounts for the expenses?

We are building several constructions for our school and would like to track all expenses for each construction. Do we need to set up for all construction different CIP accounts with subaccounts?

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Best answer September 26, 2019
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Rustler
Level 15
‎September 26, 2019 04:21 PM

I would like to track the cost of several constructions. Do I need to set up for each building different CIP accounts with subaccounts for the expenses?

Yes I would.  Whether you need sub accounts per project is a personal decision, I do not use them and just accumulate the total cost in the WIP (CIP) asset account

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1 Comment 1
Rustler
Level 15
‎September 26, 2019 04:21 PM

I would like to track the cost of several constructions. Do I need to set up for each building different CIP accounts with subaccounts for the expenses?

Yes I would.  Whether you need sub accounts per project is a personal decision, I do not use them and just accumulate the total cost in the WIP (CIP) asset account

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