The period close process in Inventory recognizes variances for non-standard expense jobs and repetitive schedules. It also transfers the WIP period costs to the general ledger.

Costing Nonstandard Expense Job Period Close Transactions
You can close discrete jobs and recognize variances for non-standard expense jobs at any time. In addition, the period close process automatically recognizes variances on all non-standard expense job charges incurred during the period. Therefore, open non-standard expense jobs have zero WIP accounting balances at the start of a new period.
If there is a positive balance in the job at the end of the period, here are the accounting entries for nonstandard expense jobs at period close:

Account                                                        Debit       Credit
WIP accounting class variance accounts                XX             -
  WIP accounting class valuation accounts               -              XX

Costing Repetitive Schedule Period Close Transactions
You do not close a repetitive schedule. However, you do recognize variances on a period basis that result in zero WIP accounting balances at the start of the new period. You should check your transactions and balances using the Repetitive Value Report before you close a period.

When you define WIP parameters, you can specify which repetitive schedule variances that you recognize when you close an accounting period. You can either recognize variances for all repetitive schedules when you close an accounting period, or recognize variances for those repetitive schedules with statuses of either Complete - No Charges or Cancelled.

Assuming positive balances in the repetitive schedules at the end of the period, here are the accounting entries for repetitive schedules at period close:

Account                                                        Debit       Credit
WIP accounting class variance accounts                XX            -
    WIP accounting class valuation accounts            -             XX