Deferred Revenue Projects with Amortization and Capitalization
Hi All,
We have the following Scenario at our current implementation . Any pointers/help/solution documents in this regard are highly appreciated.
Example:
--Nature of Project - Deferrred Revenue Projects identified by a "Project Type".
--Contract Value - 100000
1. When Time is captured, it should be deferred by accruing it. Associates Dept/Cost Center value captured in the auto accounting.
2. Billing is done to the customer through the life of the Project.
3. Actaul Revenue is generated only at the end of Project life.
4. For management Reporting Purposes & utilization Calcs, every month Revenue needs to be generated and tagged to a specific Account/Dept. And this revenue needs to be generated based on the work done like T&M Project (Work Distr rule for Revenue). And this Revenue should be tied to a Dummy Revenue account and not the actual revenue account. While generating this Revenue, the credit side of the entry should pick all the Dept/Cost center values of employees based on their time capture.
We have the following Scenario at our current implementation . Any pointers/help/solution documents in this regard are highly appreciated.
Example:
--Nature of Project - Deferrred Revenue Projects identified by a "Project Type".
--Contract Value - 100000
1. When Time is captured, it should be deferred by accruing it. Associates Dept/Cost Center value captured in the auto accounting.
2. Billing is done to the customer through the life of the Project.
3. Actaul Revenue is generated only at the end of Project life.
4. For management Reporting Purposes & utilization Calcs, every month Revenue needs to be generated and tagged to a specific Account/Dept. And this revenue needs to be generated based on the work done like T&M Project (Work Distr rule for Revenue). And this Revenue should be tied to a Dummy Revenue account and not the actual revenue account. While generating this Revenue, the credit side of the entry should pick all the Dept/Cost center values of employees based on their time capture.
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