The client is a manufacturing company.
The client wants to record Deferred COGS (Asset Type ; aside from Finished Goods) upon receipt and later on recognized COGS (Expense Type) upon Revenue recognition.
Best answer by vkumar
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Hi
On what document would this transaction be recorded? The option to select deferral schedule is available on AR / AP document detail line level. We can check further based document used to record the transaction.
Regards,
Hi
On what document would this transaction be recorded? The option to select deferral schedule is available on AR / AP document detail line level. We can check further based document used to record the transaction.
Regards,
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Isn’t the deferral schedule available only with Deferred Revenue module?
Is there a way to record Deferred COGS only using Acumatica Standard Financial and Manufacturing Module?
Hi
You are correct. If Deferred revenue management option is included in your license, you can assign deferral schedule on AR and AP document lines to defer the expense or revenue across a date range.
If you are not using that module, here is a workaround,
- Ensure the source document debits deferred expense account instead of COGs
- Create one journal transaction on first recognition of expense (first period)
- Create a recurrence schedule on above journal for required number
- The journal will Debit COGs, Credit Deferred expense account
Refer to the screenshots, these are for revenue side
Hope this helps.
Regards
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