Beta - new Contract Claim Accrual Process

Please note that this new version is only available by enabling it with control parameter ‘BETA FEATURE - Enable Finalise Feature for Contract Claim Accruals’

The way the process has always worked makes the generation of claim accruals essentially irreversible because the system creates the reversal and moves the Entered and Approved claims into the next period as part of the process. So if there is something wrong, like an unapproved claim that should have been approved and exported, or maybe something wrong with the GL coding, the process could not be re-run.

Open

New Contract Claim Accruals process

Open

Previous version of Contract Claim Accruals screen

Changes done:

• Removed the Profit Centre filter option on contract claim accrual generation as we want to ensure that accruals are always generated for all Entered and Approved claims in the current period.

• When the claim accrual is generated with the [Generate & Batch] button, a batch of accrual records is created as of now, but it does not move the claims into the next period, nor does it create a reversal batch. An Accrual Record Count is populated on the screen (it is a count of Contact Claims included in the batch).

• The claim accrual batch report can be run and checked, and if there are any changes required, the accrual can be regenerated with the [Generate & Batch] button.

• The claim accrual batch can be exported and if there are any problems, the accrual can be unexported and regenerated, until it is right.

• At this stage, the claim accrual records are flagged as provisional and are not included in reporting or on the Month End tab of the Job Enquiry. This is to avoid double counting the unapproved revenue (or cost) in the period.

• Then, when the claim accrual batch is exported successfully, a new function in the claim accrual screen is available to Finalise the batch. This does the following:

  • moves the claims into the next period

  • creates the reversal batch

  • removes the provisional flag on the accrual records
    
    

• Things to consider:

  • the system does not allow a new batch to be created if either
    (a) there is an existing unfinalised batch for that FinCo and period or
    (b) there are no unapproved claims for that FinCo (i.e. the accrual batch would be empty)

  • Regenerating accruals removes the existing accruals before generating new ones.

  • use control parameter to enable this new process.