Cancel Valuation

Explanation

This activity is used to cancel a valuation that is no longer valid.

When you are processing the creation of a valuation and approving it, it is possible that changes to the valuation are required. For instance, the valuation amounts may be wrong or the terms/contents of the contract may have changed. In such instances, it is possible to cancel the valuation and create a new valuation based on an updated version of the contract.

If you need to modify a valuation that is in the Certification In Progress status, you need not cancel the valuation. Instead, you can cancel the approval of the certificate. When you cancel the approval of a certificate, the status of the valuation is reset to Planned or Application Received, if started from the Planned or Application Received status respectively. Further, when the status of the valuation is reset to Planned, it is possible to refresh the contract details instead of canceling the valuation.

Note: It is not possible to update a valuation that has been cancelled.

Prerequisites

• The valuation should be in either the Planned, Application Received or Certification In Progress status.

System Effects

• The status of the valuation is set to Cancelled.
• If the application has been received, i.e., the status of the valuation is Application Received, existing financial postings will be reversed automatically using the given voucher date, user group and voucher type. More information about the postings created is available in Posting Types for IFS Sub Contract Valuation.

Window

Sub Contract Valuation

Related Window Descriptions

Sub Contract Valuation

Procedure

1. Open the Sub Contract Valuation window.
2. Query (F3) for the valuation that is to be cancelled.
3. Right-click anywhere in the header, point to Status, and then click Cancel.
4. Make sure that the correct voucher date, user group and voucher type are selected (the default values are normally correct).
5. A message requiring approval of the step appears, click Yes.