Making Contract Level Adjustments

Adjustments can be entered as a debit to a contract activity and an accrual account category, or to a posting activity and a revenue account category. Also, adjustments can be entered as AC only entries, or as AC and GL entries.

Note: Since these adjustments are made directly to the account category specified, they are not included in any billing or revenue calculations, nor are they included in ceilings and tolerances.

To make contract level adjustments

  1. Select the contract adjustment form.
    To Use
    Create an AC Only adjustment Contract Adjustment (AC only) (BR41.1)
    Create an AC and GL adjustment Contract Adjustment (AC and GL) (BR41.4)
  2. To enter a revenue adjustment, use the following guidelines to enter field values:
    Control Group

    The control group number is automatically assigned by the system to group revenue adjustments. Type a description for the control group.

    Trans Date

    Type the transaction date for the revenue adjustment. If you leave this field blank, the default value is the system date.

    Post Date

    Type the posting date for the revenue adjustment. If you leave this field blank, the default value is the system date.

    Activity

    Select the contract or posting level activity for which the revenue adjustment is being entered.

    Acct Cat (Account Category)

    Select the accrual (for contract activity) or revenue (for a posting level activity) account category for which you are adjusting the revenue amount.

    Amount

    Type the amount of the revenue adjustment.

    Curr (Currency)

    The currency associated with the contract is displayed.

    Company

    Type or select the GL company, accounting unit, account and sub account associated with the revenue adjustment.

    Description

    Type a description for the revenue adjustment. If no description is entered, the control group description is used.

Follow-up Tasks

  • After entering the revenue adjustments, release the transactions using the Release special action and run Activity Posting (AC190) to post the transactions to Project Accounting.