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Accounting of RMCS Contract using Exchange Rate of Shipments

in Revenue Management 1 comment

Summary:

Using Exchange Rate of Shipments

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We are sending RMCS Contracts in Transaction Currency with Performance Obligations Rules being defined as Material and RMCS System Options stating Allocation Basis as Entered. This ensures that my Revenue recognition is now happening based on exchange rates of Shipments. However my original accounting for Contract Creation is based on exchange rate of Contract Date. This means when Original Contract Creation accounting happens, the Contract Liability Account gets credited with contract date exchange rate. Further, also satisfactions are resulting in debit to Contract Liability Account using Shipment Exchange Rates. When the contract is fully satisfied, there lies a balance in

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