Contract Changes
Revenue accounting contracts and performance obligations can be changed after they have been created. Changes can be triggered following certain changes made to the operational documents. Additionally, users can also manually edit contracts and performance obligations.
Features
The system allows two types of changes to be made to contracts
Manual changes made by the accountant
The system allows you to perform manual tasks to change revenue accounting contracts after they have been created with default configurations.
Automatic changes requested by the back-end operational system
After creating a contract and its performance obligations, the back-end operational system can request more changes. For example, after renegotiating certain terms of the contract with the customer, a sales representative may change the price of the sales order. In this case, the back-end operational system can request a change to the revenue accounting contract, and the transaction price is reallocated.
Deletion of performance obligations
You can delete performance obligations. When you delete a performance obligation, it is marked as “soft-deleted”.