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RAR 1.3 Contract Asset/Contract Liability Posting

Posted on Jul 21, 2017 at 05:58 AM 1.1k Views

Hi Experts,

We are implementing RAR 1.3 and have encountered an Issue. We are able to create Contracts/POB's andn are also getting the Transaction Price. We are able to post the revenue recognition but we are not able to post Contract Asset and Contract Liability.

Is there any setting related to posting contract assets? Or is there a relation to anything in the POB/Contract for Contract Asset to be posted?

Thanks for your answer

Ashwin Chandrasekaran

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2 Answers

  • author's profile photo Vijay Venkataraman
    Vijay Venkataraman
    Posted on Jul 24, 2017 at 11:35 AM
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    Hi

    Kindly check your Accounting Principle level configuration. There you need to choose the option for 'Contract Balance Presentation' as 'Contract liability and asset' and then run the posting jobs after transferring the data from SD to RAR.

    Hope it helps.

    Br,

    Vijay V

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  • author's profile photo Former Member
    Former Member
    Posted on Dec 11, 2017 at 09:17 AM
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    Contract asset or liability gets calculated only when your recognized amount is eiter more or less of your invoiced value. Ensure you have scenario which meets that criterion.

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