Hello
I have these two errors in revenue recognition:
When I check the project, B25857 for example, the estimated revenue matches in the Project and Financial Project.
But when I recalculate revenue recognition, I get an error that revenue cannot be recognized. Is there something that I am missing? I would appreciate any assistance on this.
Best answer by Adam Bereda
Hi,
Looking at your data (i believe not all events are visible in the screenshot, you have distributed estimated project revenue fully to the events, but not costs).
If I am right, in case of IAS15 recognition solution in IFS (event-based), you must distribute full estimated costs and full estimated revenue of the project to the events.
Error message related to revenues could be misleading. I suspect cost distribution issue.
If above does not help, perhaps you can try as well extending currency precision in presentation (IFS Currency format with more than 2 decimals) - sometimes there could be rounding issue somewhere…
Hi,
Looking at your data (i believe not all events are visible in the screenshot, you have distributed estimated project revenue fully to the events, but not costs).
If I am right, in case of IAS15 recognition solution in IFS (event-based), you must distribute full estimated costs and full estimated revenue of the project to the events.
Error message related to revenues could be misleading. I suspect cost distribution issue.
If above does not help, perhaps you can try as well extending currency precision in presentation (IFS Currency format with more than 2 decimals) - sometimes there could be rounding issue somewhere…
Hi,
Looking at your data (i believe not all events are visible in the screenshot, you have distributed estimated project revenue fully to the events, but not costs).
If I am right, in case of IAS15 recognition solution in IFS (event-based), you must distribute full estimated costs and full estimated revenue of the project to the events.
Error message related to revenues could be misleading. I suspect cost distribution issue.
If above does not help, perhaps you can try as well extending currency precision in presentation (IFS Currency format with more than 2 decimals) - sometimes there could be rounding issue somewhere…
Hello Adam
Thank you for your reply
Estimated revenues and costs are distributed. Do you know where in IFS can currency precision be extended?
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