A: Follow these steps

  1. Create a new account in the Office Journal. This will reflect the value of unbilled WIP.
  2. Navigate to the Aged WIP report. Go to Reports > Aged WIP to view the current unbilled WIP balance.
  3. Record a general journal transaction. Use the Office Journal to post a manual journal entry that reflects the value of unbilled WIP into the newly created account.
Your accountant will need to advise you on the journal entry format and account type to ensure it aligns with your financial reporting.

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