Hello everyone, I am seeking your assistance regar...
# accounting
l
Hello everyone, I am seeking your assistance regarding data migration for a new subsidiary that we are implementing . I am currently handling the data migration for the projects and am facing challenges in finding the best solution for ongoing projects. The following cases are the ones that are causing me the most problems: Sales order partially billed, 0% revenue recognized for the project. Sales order not billed, a portion of revenue has already been recognized. Could anyone please help me with this? Thanks in advance !!
a
Sales order partially billed, 0% revenue recognized for the project. - Enter complete SO into new sub, recreate the amount already invoiced using Cash Sales and reverse the amount recognized from the cash sale. This will enable you to recognize all the revenue without overbilling your customer.
Sales order not billed, a portion of revenue has already been recognized - Enter complete SO into new sub, recognize and reverse the revenue already recognized so you do not over recognize revenue, this amount should already be recorded in the trial balance you are importing for subsidiary balances. Most importantly you should test these scenarios in sandbox beforehand, there will be nuances to work through (You are using projects, understanding GL impact of Cash Sales, etc.) that you'll want to be sure the business understands fore doing this in production
l
Hello Alex, Thank you so much for your help !