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Former Member

sIAS 17 postings are not happening as required

Dear All,

For all other IAS-17 scenarios where in contract is starting start of the month ex: 01/01/2014, we are not facing any issues.

For this particular case i.e. where in the contract which are starting not start of the month i.e. ex: 02/01/2014 or 15.01.2014 the scenarios

are failing.

The amounts from the customers for the respective contracts are collected in advance and the revenue recognition will be happening at

the end of the month. This is the business scenario where in we have configured as per the process.

AS per IAS-17 functionality,after posting last month accrual/deferral of the contract all intermediate g/l accounts value should be zero and

total contract revenue should update in IAS Revenue G/L account:800751 (Please refer 6001076 contract, which is success full case), where as

in 6001078 contract same has been failed.

I request you to please refer attached document for the same, in that clearly explained both success full and failure case scenarios with screen shots.

Regards,

Vamsi krishna.K

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1 Answer

  • Apr 06, 2015 at 03:23 AM

    HI,

    It is not very clear of your question, possibly the issue is related to the posted date of the cash flow.

    Regards,

    Bowen

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