Skip to Content
author's profile photo Former Member
Former Member

RAR 1.3 Contract Asset/Contract Liability Posting

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

Add a comment
10|10000 characters needed characters exceeded

Related questions

2 Answers

  • Posted on Jul 24, 2017 at 11:35 AM

    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

    Add a comment
    10|10000 characters needed characters exceeded

  • author's profile photo Former Member
    Former Member
    Posted on Dec 11, 2017 at 09:17 AM

    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.

    Add a comment
    10|10000 characters needed characters exceeded

Before answering

You should only submit an answer when you are proposing a solution to the poster's problem. If you want the poster to clarify the question or provide more information, please leave a comment instead, requesting additional details. When answering, please include specifics, such as step-by-step instructions, context for the solution, and links to useful resources. Also, please make sure that you answer complies with our Rules of Engagement.
You must be Logged in to submit an answer.

Up to 10 attachments (including images) can be used with a maximum of 1.0 MB each and 10.5 MB total.