Residual Account Balance Write-Off Process

Use the Residual Account Balance Write-Off process to identify contracts with residual balances and generate write-off balances for the identified contracts by automatically creating adjustment journal entries.

Navigate to the Scheduled Processes page to run this process. The process includes the following parameters:

Parameter Name	Description	Required
Ledger	Select the ledger name on which you want to execute the process.	Yes
Residual Balance Threshold	Define the threshold of the account's residual balance amount that's qualified for write off. The application selects contracts for processing where the residual balance amount in either the Contract Asset, Contract Liability, or Contract Discount account is less than or equal to the predefined threshold.	Yes
Latest Contract Activity Date	The date the latest activity was performed on the contract. This process picks up contracts with the latest activity up to the predefined date.	Yes
From Full Satisfaction Date	From date of the full satisfaction date range.	Yes
To Full Satisfaction Date	To date of the full satisfaction date range.	Yes
From Contract Number	Beginning contract identification number of the contract number range.	No
To Contract Number	Ending contract identification number of the contract number range.	No
Action	Mode of processing of the Residual Account Balance Write-Off process: Review Draft: generates a list of eligible contracts selected and displays the details of the residual balances that would be written off. This is the default value for this parameter. Perform Final Adjustment: identifies the list of eligible contracts based on the processing parameters, creates write-off journals for the contracts listed, and updates the contract's Residual Balance Adjustment status to Final adjusted.	Yes
Accounting Date	Date used for the residual balance adjustment journal. The accounting date is required only when you run the process in Perform Final Adjustment mode.	Conditional
Write-Off Contracts	Identifies the contracts that will be written-off by the Residual Account Balance Write-Off process. Fully Satisfied: Includes only those contracts that are fully satisfied. Terminated with Immaterial Change: Includes only those contracts that are fully satisfied and are terminated with immaterial an change.	Yes