Stage Billing - Does standard IFS Functionality exist to reverse or post the Stage Billing Invoice balance from the P&L account using posting control M28 to a define Balance Sheet account? And can this be reversed once the Stage Billing order line is delivered?
Question
Stage Billing - Does standard IFS Functionality exist to reverse or post the Stage Billing Invoice
+1
Hi,
The staged billing (customer order side) generates revenue (M28).
If the customer order line is connected to a project, the project accounting can manage the results. For example, if we capitalize cost / revenue, that sale posting can be moved to the balance sheet. Then when the project is completed (for example delivery) the balance sheet posting is reversed back to revenue. Many options in this flow are supported. Depending on needs, the job functionality could be something to look at. Jobs have a place, use case, but not for all. Most clients use a project (a job is a special type of project). Pure financial projects may be the best place to start.
If you post the M28 to the balance sheet via posting control, IFS has no automated way to move the value back to revenue. Sure - you can craft a creative solution using charge types where charge types connected to the order line can generate additional postings. Problem is - I’ve had to fix a good number of clients who used such creating solutions. Those solutions are not what I would call stable. Stuff happens, and it can be tough to fix.
IMO - the project accounting is quick, easy, and it works. Automations can be crafted to make the process even easier.
Cheers,
Thomas
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