Recognize Application Discount
Explanation
This activity is used to recognize an application
discount. To have control of posting elements, a system object property
named DISCOUNT is defined in IFS/Application Services.
If the property value is set to TRUE, the discount
is recognized and separate vouchers will be created. If not, discount
postings will not be created.
When the valuation is set to the Application Received status, the
discount amounts are posted in the application. Following is an example of a
contract with a 10% discount:
If a valuation (V1) is created and receives an application A1 for £100:
- AFP22 Credit 90 (Create received application amount, 100 -10)
- AFP21 Debit 90 (Create received application amount, 100 - 10)
- AFP25 Credit 10 (create received discount, 10% of 100)
- AFP26 Debit 10 (create received discount, 10% of 100)
Prerequisites
- The valuation should be in the Planned status.
System Effects
- Discount values are recognized as non-cumulative amounts.
- The status of the valuation changes to Application Received, and vouchers
are created automatically.
- Postings are created for the discount amounts using the Voucher Date,
User Group and Voucher Type as defined in the
Receive
Application dialog box. More information about the
postings created is available in
Posting Types
for IFS Sub Contract Valuation.
Window
Sub Contract Valuation
Related Window Descriptions
Receive Application
Sub Contract Valuation
Procedure
- Open the
Sub Contract Valuation window and query (F3) for
the necessary valuation.
- Right-click anywhere in the header, point to Status, and then
click Receive Application. The Receive Application dialog box opens.
- The default user group and voucher type appear automatically. You can
change these values, if necessary.
- Click OK.