Define Periods and Ledgers for Periodical Capitalization and Revenue Recognition
Explanation
This activity is used to
define the periods and ledger for which periodical capitalization and revenue recognition will take
place. Each new line is given a system generated serial number as an ID.
Periodical capitalization is an optional process activated by
Capitalization Posting Method specified on the project. Multiple records
can be created for the same period if used with different ledger selections.
Prerequisites
N/A
System Effects
Periodical Capitalization and Revenue Recognition will be processed for
the defined period and ledger.
Window
Periodical Capitalization and Revenue Recognitions
Related Window Descriptions
Periodical Capitalization and
Revenue Recognitions
Procedure
If there are no projects set up to use Separate
GL/IL Rules, use following steps:
- Open the
Periodical Capitalization and Revenue Recognitions window.
- Enter the accounting year and period. A new procedure can be defined for an
interval of periods, i.e., you can define a procedure for each quarter by using the
Until Accounting Period field. It is however required to cover an
entire accounting year before you can define a procedure for the next accounting
year.
- Enter the Ledger Type All Ledgers. This
is the only ledger setting you can use if the company does not have projects set
up to use Separate GL/IL Rules.
- Save the entries. Notes can be entered for each
row.
If there are projects that use Separate GL/IL Rules,
two additional rows can be defined for the same period with the following ledger
settings:
- Ledger Type General Ledger and
Ledger ID 00.
- Ledger Type Internal Ledger and
Ledger ID for the internal ledger defined for IL Project
Accounting.