Accounting Distribution Creation

The initial accounting distributions for a contract line are populated by the system. For fixed-amount and recurring contract lines, the revenue accounting distribution codes are obtained from distribution sets. If you enabled the contract liability recognition option at the product group level, the system checks the revenue distribution code for a related contract liability distribution code and populates the Accounting Distribution page with those revenue and contract liability values.

Note:

If you did not associate a contract liability distribution code with the revenue distribution code, the system populates only the revenue distribution. You must manually add the contract liability accounting information to the contract line's accounting distribution before the contract can be activated.

When you save a contract line, ChartField combination editing verifies that the revenue, contract liability, and contract asset accounting distributions are valid for the PeopleSoft General Ledger business unit listed. You cannot save a contract with an Active processing status until all of its accounting distributions pass ChartField combination editing.

This section discusses:

• Revenue accounting.

• Contract liability accounting.

• Contract Asset