Hi Rakesh,

 You need to create a customer invoice and then in Voucher Entry select the voucher and allocate the revenue. Vouchers from voucher type X will be created

Best regards,

Aneta

Hello,

Customer may pay the entire amount, but to split the revenue, you need to define how you are going to bill your contract - how many invoices you are going to create. 

In general, two options are possible:

• single invoice, single payment, utilization of period allocation feature on invoice (same used in case of supplier invoice)
• advance invoice for 100% contract value. Then delivery invoice each period, amortized with relevant part of advance. 

Hi @Aneta Kuzora 

Thank u so much for the response.

Please find the below screenshot

I am not able to view the Period Allocation Vouchers (X) created when I click Ok in the above step.

Where can I find the Period Allocation Vouchers?

X vouchers are created during update voucher to GL, not when you do click OK. Before GL update you have chance to correct allocation :)

Hi @Rakesh 

 exactly as Adam wrote : the X vouchers will be created after updating the F voucher to General Ledger

Best regards,

Aneta

Hi @Aneta Kuzora @Adam Bereda 

Thank you so much for the responses.

Just a query how the revenue splitting will work in Period Allocation voucher if previous accounting periods are closed.

For ex: Annual Maintenance Contract is sold for period Apr1 2021 to March31 2022. Now if I apply Period Allocation to F voucher in current accounting period(Aug), how it will work.

From Apr to July, accountings periods are closed.

Thanks,

Rakesh

Hi

Please look at the topic:

https://community.ifs.com/finance-financials-42/posting-proposal-automatic-period-allocation-when-months-are-closed-9161

BR

Aneta

Hi @Aneta Kuzora @Adam Bereda 

The above topic did not help me.

In my Case I am using Customer Order Invoice.

I am repeating the scenario:

For ex:

Service Contract is raised from Apr 1 2021 to March 31 2022. We received a entire payment today i.e. in Aug (Accounting Period). The amount is Rs120000. 

As per equal distribution it should be 10000 per month.

But for me Apr to July accounting periods are closed. Cannot post the revenue there. I will be passing a manual entry for accumulated revenue (40000) for Apr to July.

I want to split the rest of the revenue i.e.80000 evenly from Aug to March accounting periods. But in Period Allocation it is distributing 15000 per period instead of 10000.

How to resolve this.

As a newcomer, screenshots will really help me.

Hope to hear from you soon.

Thanks,

Rakesh

Hi, 
If this is not automated on voucher entry in your IFS version (copy closed period's allocation amounts to subsequent open period), you can do it manually.

In IFS version I am using, it is not possible to create distribution lines in closed period, so I am doing a trick as below: 

Enter distribution period covering current month and next 11 (in your case - August to July next year) and let system propose even distribution amounts. Then before saving, remove distribution lines for April-July periods (equivalent of closed periods part) and modify amount of August line adding value of lines removed. 
Hope it helps.
 

Hi @Adam Bereda 

Thank u so much for the solution.

I followed the same step suggested by you, the only problem I am facing is the “X” voucher is not created for cumulative amount for August accounting period.

How to track this amount??

Hi,
I think it is controlled by General Ledger Update Parameter “Period Allocation Voucher For Base Period”. It is usually set to “No”, saving one X voucher per process (in such a setup, only part of costs/revenues belonging to other periods is booked via GP2 posting). But you may want to set it to “Yes” to see full cost/revenue amount allocated via X vouchers.

Hi @Adam Bereda 

Where can I find “Period Allocation Voucher For Base Period” parameter?

General Ledger / Update Voucher/ Update Parameters?
I am using old IFS version...

Hi @Adam Bereda 

Got it ..Thank u so much again :)

Hi @Rakesh 

 This can be helpful:

If the parameter is set to NO, the voucher X is not created in the base period, in your case for August accounting period, and the first revenue amount will be posted in voucher F.

If the parameter is set to YES, the voucher X is created in the base period, where the first revenue amount is allocated

Best regards,

Aneta

@Rakesh : On service contract - when you create invoice plan, e.g. invoice a fee for three months - system automatically creates periodical allocation to split revenue across the invoicing period: e.g. you invoice fee of 9.000 for period 1.1.2022 - 31.3.2022, 1.4.2022 - 30.6.2022 and so on.

The 1st period 1.1 - 31.3 will get periodical allocation for revenue when 9.000 is divided proportionally across the period. This you can find in behind the invoice plan line  / periodical allocation. This takes place when GL update is done in Finance.

Same functionality - but manual - exists on instant invoice in Finance.

There is a period allocation on the service contract itself so you don’t have to do this manually once the voucher has been created. On the Invoice Plan there is a command/RMB to add a Period Allocation rule. This will do the same as the amendment in the Voucher but earlier in the process to ensure users don’t forget to do the manual step.