3482985 - Remaining Contract Liabilities or Contract Assets After all Sales Document Items of a RAC got Completed

After all sales document items are completed (fully delivered, fully invoiced, final delivery or invoice date set in accounting) there are still contract assets or contract liabilities remaining for a RAC.

SAP Business ByDesign

1. In the Cost and Revenue work center go to the Sales Document Items tab. 
2. In the search filter enter XYZ (XYZ represents a revenue accounting contract (RAC) ID.
3. All sales document items connected to the RAC appear. 
4. In the Dates tab you verify that the Final Delivery or Invoice Date is set (indicating that the sales order items are completed). 
5. Press Reports and choose one of the report to check all business transactions on the respective sales document item.
6. You notice contract asset or liability amount which should be cleared as the item's are completed.

After the IFRS15/ ASC 606 functionality got implemented into SAP Business ByDesign several functional improvements have taken place. These improvements automatically take effect for all RACs created after their deployment. All data created before might need to be refreshed manually to allow the improvements to take effect. 

Perform dummy changes on the affected RAC: 

In the RAC go to the Manual changes tab

• set/remove the No Allocation indicator and press save. Then remove/set the No Allocation indicator again and press save.
• enter a manual Standalone Selling Price (SSP) in thd change Standalone Selling price field and press save. Then remove the value again and press save. 
• Or remove the manual SSP, press save and enter it again. 

After this perform a revenue recognition run in test mode to check if the contract assets/liabilities are getting cleared. If so, perform an update run. 

Should the values not be cleared, send a case to Technical Support for further analysis.

contract assets, contract liabilities for completed RAC, completed project remaining deferrals, assets, liabilities , KBA , SRD-FIN-GL , General Ledger , Problem