Financial Transactions for AFP

The AFP accrual process reflects applied, certified, and invoiced amounts through integration transactions and accrual reversals.

An AFP accrual is created based on the applied amount when an AFP is submitted. An integration transaction is generated to post the applied amount as an Application for Payment Accrual in the general ledger.

Note: This integration transaction is generated only if the Log AFP Financial Transactions check box is selected in the Contract Parameters (tpctm0100m000) session.

When you update the certified values for the AFP, an integration transaction reverses the certified amount from the AFP Accrual and transfers it to the Certified Work Accrual. After the certified amount is invoiced, the Certified Work Accrual is reversed and the invoiced amount is posted to Deferred Revenue.