Professional Services
Engagement Close-Out — Unbilled WIP Written Off
Writing off residual WIP on an engagement that is closed with the client's final invoice already issued.
| Account Name | Type | Debit ($) | Credit ($) |
|---|---|---|---|
| WIP Write-Off (Engagement Close-Out) | Expense (+) | 3,200.00 | - |
| Unbilled Receivables / Contract Asset (WIP) | Asset (−) | - | 3,200.00 |
💡 Accountant's Note
At engagement close, any remaining WIP that was not invoiced (because the firm absorbed cost overruns or agreed a fixed scope) is written off. This is a normal part of engagement profitability management.
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