Hello,
Is there a way to re-open/update the Current Capitalization Cost on a financial project if the Project has has gone to Final Completion?
Scenario:
The Financial Project was completed and the related Asset activated. It was later found that there was a mistake in the purchasing costs related to the project. The Asset transactions were rolled back and the asset placed back into Investment status. The rollback ‘P’ voucher was updated to GL and nets to zero against the original P voucher. The supplier issued a new corrected invoice which was then matched to the PO.
However, the Current Capitalization Cost on the Financial Project is still showing the original amount.
Is there a way to have this corrected in IFS CLoud(25R1) - a function/process to be run/steps?
Financial Project parameters:
Capitalization Posting Method: Transaction
Project Type: Capitalize Rev/Exp
Revenue Recognition Method: Project Completion