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Different accounts for Advance and Revenue in Ledger Posting setup for on-account project tranasactions

Stanislav Nikolaev on 11/7/2019 3:49:09 PM
Currently On-Account transactions are mapped in the Ledger Posting Setup this lead to advance and revenue on-account transaction are post in same account, which is wrong. From accounting point of view this is incorrect behavior as the two types of transactions are totally different from balance sheet perspective. This way of posting is not acceptable and behavior should be changed.
Category: Project Resource Management
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RE: Different accounts for Advance and Revenue in Ledger Posting setup for on-account project tranasactions

Eugen Glasow on 1/18/2024 7:46:46 PM

Agree. For now, I am combatting this with the VAT group aka Sales tax group, see the blog "Advance payment invoices in Fixed fee projects in D365"


Category: Project Resource Management

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RE: Different accounts for Advance and Revenue in Ledger Posting setup for on-account project tranasactions

Mohammed Rasheed on 2/5/2020 9:47:51 AM

This is extremely needed in all project accounting implementation for the construction business.
without this functionality, D365 will not be aligned with IFRS 16 standard.

Category: Project Resource Management