1 Reply Latest reply on Sep 7, 2015 4:54 AM by Abhi83

    Complex PO Migration including Retainage and Advance

    146764ee-ec1a-44a7-a1a0-eaf43027bdbf

      Dear Experts,

       

      I need help /guidance in Complex PO migration .

       

      Strategy for migration of complex purchase orders comprise of the following elements which need to be considered apart from the elements in Standard Purchase Order

      a) Available advance amount

      b) Unrecovered Advance

      c) Recovered Advance

      d) Un Released Retainage

      e) Released Retainage

      f) Pending Retention Amount

      g) Advance

       

      Thanks,

      KK

        • 1. Re: Complex PO Migration including Retainage and Advance
          Abhi83

          Dear Kundan,

           

          In any situation where the above elements need to be migrated, it must be considered that the only open data associated with these transactions must be considered.

           

          Below is the sequence I would follow if I were in your position (Which you are )

           

          a) Extract all Complex PO's with Partial advance Payments, Partial Retainages - This is major Problem statement

          b) Extract Complex PO's with unpaid advances and un-applied retainages - This is simple, migrate as is.

          c) Extract accounting entries for partial recoupment (in case of un-applied prepayments existent)

          d) Extract Accounting entries of all applied retainages

           

          Re Define the new complex PO with only data elements which are open, i.e, Pending Retention Amount and Available Advance

          Upload it as is.

           

          Refine the data collected in points c & d and migrate as part of open balances in GL.

           

          Net result - Complex PO gets migrated with associated past history in terms of accounting.

           

          Let me know your thoughts.

           

          Rgds

          Abhi