Steps: Amortize Customer Contract Costs

Create 1 or more customer contracts.

You can incrementally amortize contract costs, such as commissions, for your customer contracts over time.

(Optional) Access the

View Account Posting Rule Set

report to manage your deferred cost assets and amortization expenses posting rules.

Security:

Set Up: Accounting Rules
domain in the Common Financial Management functional area.

Set Up: Payroll - Company Specific (Accounting)
domain in the Core Payroll functional area.

(Optional) Access the

Maintain Cost Types

task.

Create 1 or more cost types.

Security: Set Up: Customer Contracts - Templates and Types
domain in the Customer Contracts and Project Billing functional areas.

Access the

Create Deferred Cost Transactions

task.

Create at least 1 deferred cost transaction for amortization.

Security: Process: Deferred Cost Schedule - Core
domain in the Customer Contracts and Project Billing functional areas.

Access the

Create Deferred Cost Accounting

task.

To generate accounting, select 1 or more deferred cost installments.

Configure the Deferred Cost Installment Event
business process and security policy in the Customer Contracts and Project Billing functional areas.

(Optional) Access the

Update Deferred Cost Installment Status

task.

Select the installments to change manually to Closed
status to stop the amortization and accounting.

Security: Process: Deferred Cost Schedule - Core
domain in the Customer Contracts and Project Billing functional areas.

You can create custom reports that pull transaction statuses and amounts to determine installment lines for manual accounting entries.