Hi All,
Below is my requirement:
Please suggest me to meet the below requirement in SAP.
Note: I don’t want to configure Revenue Recognition.
My Client will provide the services to their customers for 1 year.
For this contract is done between 2 parties for 1 year validity.
Contract will start from September ‘14 ends at August’15 (between 2 financial years). Services are performed once in every month throughout the year. But customer will pay the total contract amount at a time while initiation of the contract creation. At this time we don’t want to post the total amount in to revenue account. But For that total amount we need to provide the bill to the customer.
Initially That total amount need to post into advance account. Because the services are provided between 2 financial years (Sep’14 to Aug’15). Revenue need to be post for 2 financial years.
So for every month partially need to take the amount from advance account and post the same to revenue account. Finally advance account need to nullify revenue account need to be increased.
Example:
Contract started on September 2014
Total contract amount 12,00000 Inr paid by the customer on September 2014.
Advance account = 12,00,000 Inr
Revenue posing for Sep’14 - 1,00,000 Inr
Oct’14- 1,00,000 Inr
Nov’14- 1,00,000 Inr
.
.
.July’15- 1,00,000 Inr
Aug’15- 1,00,000 Inr
Finally Advance account = Zero
Revenue account = 12,00,000 Inr
Thanks in advance
Regards,
Ravi