Projects Invoices In AR
Hi,
To handle project related invoices in AR in terms of advance payments and recognition of sales & revenue, we dont have project module, we are on 11i
Order Amount 100
Advance Payment 50%
Completion 50%
So for advance payment we raise an Invoice for 50%
Then next 50% which is after completion of project we raise an invoice for full amount along with delivery note & credit memo for advance, at this point our sales & revenue is getting recognized,which is not correct, bcoz customer will take some time to sign and return back the delivery note or maybe customer might say that goods are not delivered as ordered.
To handle project related invoices in AR in terms of advance payments and recognition of sales & revenue, we dont have project module, we are on 11i
Order Amount 100
Advance Payment 50%
Completion 50%
So for advance payment we raise an Invoice for 50%
Then next 50% which is after completion of project we raise an invoice for full amount along with delivery note & credit memo for advance, at this point our sales & revenue is getting recognized,which is not correct, bcoz customer will take some time to sign and return back the delivery note or maybe customer might say that goods are not delivered as ordered.
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