The New Cost Object column is available if the Advanced Product Costing option is selected on the Administration > Settings > Production form. Specify or create a cost object to which the transferred items are intended at their new place. The Contract Assets tab is available once the Contract Assets option is selected on the Main tab.
Using this tab, you can enter the beginning balances of revenues recognized for contracts for which work is still in progress.
The Opening Balances Entering document. The Contract Assets tab
You can import the list of beginning balance form an Excel spreadsheet or add balances one-by-one manually. To import the data, click the 
button on the toolbar.
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In the Company column, select the company that ordered the works.
In the Contract column, select the company contract or create the contract.
In the Item column, specify the work item ordered by the company.
The Characteristic column is available if the Enable Item Characteristics option is selected on the Administration > Settings > Purchasing and Warehouses form. In this column, you can specify additional properties of the work item if the Use Characteristics option is selected for the item in its master record (see Items).
Use the Quantity column to enter the quantity of the work item in the unit of measure that is specified in the UOM column.
In the Amount (CurrCur.) column, enter the opening balance in the contract currency.
The Currency column is populated with the contract currency.
In the Amount (Acct. CurrCur.) column, enter the opening balance in the accounting currency.
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In the Description field, cost object description appears as a string of appended attributes.
The Cost Object (create) dialog box
Once you specify all attributes of the cost object, click Save and close to save the cost object and close the dialog box.In the Cost Element column, specify a cost element which you can select from the Employees, Fixed Assets, and Items lists.
Use the Project column to select the project associated with the contract asset.
You can link this balance with a project from the Projects list if the Project Costing functionality is turned on on the Administration > Settings > Project Costing form.
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In the GL Account column, make sure that the correct income asset account appears for recording the amount of already recognized revenue.
Use the Transaction Content column to enter the description for the journal entries.