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Hi all,
My customer needs to use fixed price projects where they recognize revenue, but not invoice the customer. (The invoicing is done in other arrangements). The cost, and basis for revenue in the project, is an item that is entered in an Item requirement. This item is then purchased on a PO from the project. The Revenue recognition accounting rule is Completed percentage.
I face some issues trying to achieve this (to recognize revenue and then close the project).
If I create an on-account line as a basis for the rev rec value, the system will not let me eliminate the project unless I invoice the on-account line. I have tried without creating an on-account line, and instead manually entering the revenue amount on the estimate. However, when I click on Eliminate afterwards, the system gives me the classic "The transactions on voucher XXX do not balance as per....". This usually means that some setup is missing, but I cannot figure out what that could be. I have set valid main accounts on all posting types in the project module.
It should be possible to do this procedure right? To only recognize revenue, then eliminate the project and set it to Finished?
Any advice here is apreciated.
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