Announcement:
wanna exchange links? contact me at sapchatroom@gmail.com.
Posted by
Admin at
Reply from Amy on Jan 9 at 1:24 PM Sridhar,
One question to your solution. Is the following entry manual? The effort is to avoid manual posting so pl. clarify.
Once you get the acceptance, invoice the customer
At the time of invoice, post the following entry
Dr COGS
Cr Goods in transit
Thanks,
Amy
| | | ---------------Original Message---------------
From: Amy A
Sent: Friday, January 06, 2012 5:32 PM
Subject: Revenue and COGS Cancellation and Reposting for Revenue Recognition Contracts
Hello,
I have a question relating to revenue recognition related contracts. For some of the contracts, revenue recognition and COGS is posted but both revenue and COGS needs to be deferred for various reasons such as customer acceptance not received, etc. at the month end. Current process is to reverse both revenue and COGS manually by journal entry. Then, re-post to revenue and COGS in future months by way of journal entry. Are there any options to automate reversal of revenue recognised and COGS and then automate re-posting of revenue and COGS?
Thanks,
Amy |
| Reply to this email to post your response. __.____._ |   _.____.__ |
