Update the Accounting Distribution on a Customer Contract
Updating the Accounting Distribution on a Customer Contract
Purpose: This document provides instructions on how to modify a customer contract to change the accounting distribution values for each line associated with the customer contract.
Step 1: On the Financials homepage, select the Grants tile.
Step 2: The Copy Proposal page will appear. In the Manage Contracts folder, select Define Contract General Info.
Alternate navigation: Customer Contracts tile > Define Contract General Info
Step 3: Enter the Business Unit and the desired Contract ID. For this example, we will use CTR00004063. Click Search.
Step 4: Click the Lines tab.
Step 5: Click the Detail tab.
Step 6: In the Accounting column, click the Distribution hyperlink.
Step 7: There are two option to update the Accounting Distribution. Option A – to correct the existing accounting distribution and Option B – to add a new effective dated distribution. Note that the default account (10040) is the unbilled AR account.
Option A – Correct the Current Accounting Distribution
Step 8: Click the Correct History button
Step 9: Update the accounting information as needed. Here we will change the Dept value in the Contract Asset line to 251669. Click the Save button.
Step 10: Click the OK button for “Contract Asset accounting distribution has been changed.”
Step 11: Scroll to the far right of the Contract Asset line to make sure Valid is checked.
Done! You have successfully modified the Accounting Distribution on a Customer Contract.