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Accounting for Contracts with Start date in Future to add these contracts to Open Obligations

edited Mar 3, 2021 1:43PM in Revenue Management 1 comment

Summary

We have Contracts that are booked now with a start date 3 or 4 years in future. When these are created, reviewed and Frozen in RMCS unable to create Accounting for it

Content

Hi All,

We have a Customer Requirement that we are currently working on and would like to seek your help with:

Customer books a Service Contract with a start date in future and Invoices Customer based on milestone schedule in advance, these are prepayment Invoices for the services rendered in future. What I am trying to do is to Import the Contract from Subscriptions as of today when Contract is activated. I am able to do that. I can update the Document Date and Freeze date and have accounting contract Reviewed and Frozen. Inspite of that i am unable to generate accounting for Initial Performance event. Intention of booking these entries to start having contract amounts reflecting in Open Obligation /Revenue

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