You're almost there! Please answer a few more questions for access to the Applications content. Complete registration
Interested in joining? Complete your registration by providing Areas of Interest here. Register

Revenue Recognition Occuring in Third Party System. How to Handle COGS in Oracle?

in Costing 8 comments

Summary:

In case of our client, the revenue recognition is occuring in a 3rd party system called RevPro, so when SO is booked the information is transfered to RevPro and a revenue contract is created. Upon ship confirm and AR invoice creation subsequently the interface is triggered and revenue recognition occurs in RevPro and transferred to GL accordingly. So in this scenario

  1. Do we need to run import revenue lines? because revenue recog is occuring in RevPro and from there it directly goes to GL.
  2. If we dont need to run import revenue lines, then in oracle costing the final entry remains as below after SO shipment. Is it okay to have final accounting of SO in oracle like below?
Tagged:

Howdy, Stranger!

Log In

To view full details, sign in.

Register

Don't have an account? Click here to get started!