Reviewing Claimback Accruals
This topic provides an overview of revenue accrual for general ledger and lists the pages used to review claimback accruals.
|
Page Name |
Definition Name |
Usage |
|---|---|---|
|
Claimback Accrual Inquiry |
CB_ACCRUALS_INQ |
Inquire on the details of claimback accrued revenue transactions by Supplier ID, Claimback Contract ID, or Order Management Business Unit. The transactions that appear are generated from the Claimback Claims and Accruals process. |
|
GL Accrued Revenue |
CB_GL_ACCRUAL |
Inquire on the details of the accrued revenue accounting entries that are posted to the General Ledger. |
The Generate Claim Request page provides a batch process and request capability for automatically accruing incurred revenue for claimbacks that have not gone through the settlement process. In this case, shipments were made against the claimback contract, and claims may have been generated, but the claims were not yet passed to Accounts Payable or Accounts Receivable for processing. The Accrued Revenue transactions will be sent to General Ledger so that new journal entries can be created by the Journal Generator.
You can submit the Claimback Claims and Accruals process for:
A specific claimback contract (SetID and Contract ID).
All claimback contracts for a SetID.
All claimback contracts for a specific Supplier ID.
The process is run based on the status of the claimback contract. Claimback contracts with a status of Approved or Closed will compute accrued revenue amounts for all shipments for which the order schedule is tied to the claimback contract and a claim has:
Not yet been generated.
Not yet been passed to Accounts Payable or Accounts Receivable for processing.
Been deferred to another period, but a new claim has not yet been created.
The Claimback Claims and Accruals process looks at any shipments that have a claimback contract applied to them and determines if an accrual transaction needs to be generated. If no claim has yet been generated, an existing claim has not yet been settled, or a claim has been deferred to another period, then the claimback amount will be accrued and passed to the General Ledger.
Note: The Claimback Claims and Accruals process will process any claims with a status of Open or Approved, but it ignores any claims with a status of Pending Payment, Partially Paid, Paid, or Cancelled. If a claim has a status of Deferred, then it will only be included in the accrual calculations if no new claim has been generated for the deferred claim or if the new claim has a status of Open or Approved.
The system retrieves the Accrued Revenue Distribution Code from the claimback contract. The Accrued Revenue Distribution Code is provided by default to the claimback contract line for the Order Management Business Unit, and it is then used to retrieve the Accrued Revenue ChartField information and to populate that information in the Accrued Revenue transaction table for debit entry.
The system retrieves the Claimback Distribution Code from the claimback contract. The Claimback Distribution Code is provided by default to the claimback contract line from the Order Management Business Unit, and it is then used to retrieve the Claimback Revenue ChartField information and to populate that information on the Accrued Revenue transaction table for the credit entry.
A user can review transactions written to the Accrued Revenue transaction table before they are posted to the General Ledger on the Claimback Accruals Inquiry page.
Accrued Revenue transactions written to the Accrued Revenue transaction table are retrieved and posted to the General Ledger using the Journal Generator batch process (FS_JGEN). A special journal template has been created for Claimback Accrued Revenue. A journal entry is made to the Accrued Revenue ChartFields at the end of the current period, with a reversing entry to the same account in the start of this period. A user can review Accrued Revenue transactions that have been posted to the General Ledger on the GL Accrued Revenue page.