Project capitalization

Project capitalization setup defines how project costs are prepared for capitalization in Asset Accounting.

This setup includes configuration of Project Interface Controls, Work In Process (WIP) and Asset Clearing accounts, and supporting utilities used to manage asset interface records.

Project capitalization setup also supports centralized management of WIP transactions, enabling administrators to configure consolidated visibility of uncapitalized project transactions while maintaining control-level validation, posting rules, and security.

Centralized WIP transaction management

Asset Accounting supports centralized drafting and reconciliation of WIP transactions for project capitalization.

This feature enables users to review and manage uncapitalized transactions across multiple Project Interface Controls while preserving control-level validation and posting rules.

Before you can enable centralized WIP transaction processing, these tasks must be performed:
  • Define an Asset Clearing Account on each applicable Project Interface Control
  • Define a Work In Progress Account when WIP transactions must be posted during draft processing

When these accounts are defined, the WIP Transactions tab becomes available on Project Interface Control.

Update Asset Interface WIP Accounts utility

The Update Asset Interface WIP Accounts utility updates existing asset interface records with Work In Process and Asset Clearing account information.

This utility can be used to populate WIP and clearing accounts on asset interface records created before account setup was completed. This can also be used to align existing records with the updated Project Interface Control configurations.

Upgrade and security considerations

  • No feature toggle is required. Centralized WIP processing is enabled automatically when clearing accounts are defined.
  • Existing security roles and Project Interface Control access rules apply.
  • Deleted interface records remain available for audit visibility through the WIP Transactions tab until removed by process rules.