Revenue reorganization in Country specific set of book

Question

Hi,
We have two set of books setup in our environment, Management book and China Legal Book. Management Book is the operating book.
When there is a prepayment for revenue collection, in management set of book we only recognized the advance billing for the prepayment, where for China Legal book we need to recognize as full revenueincluding tax.
Any FI/CO experts can help to advise how to handle this scenario.
Thank you.
Regards,
Peck Har
Edited by: Peck Har Poh on Feb 27, 2008 8:58 AM

Answer 1

Hi Josef
1. Country G/L account number in the sense a G/L account which is created under the country COA
2. At the end of the day, Country COA creation is the same as any COA. So, the G/L accounts that you create under a country COA are created in the same way as for a normal COA. If you use FS00 to create an operational COA G/L account say 123, you use the same transaction code to create Country COA G/L account say 456 (In the COA field, you select your country COA instead of operational COA). Once both 123 and 456 are created, you go into G/L account 123, and assign 456 in the alternative account number field in the control data tab. This is how you link G/L accounts under both COA's.
3. The purpose of having 2 different COA's is to report your Financial statements in 2 different formats. In a client, it is prefered that we have a single operational COA for all the company codes so that other aspects like Controlling area do not pose any design concerns. In such a case, you have country COA assigned to each company code as well so that you can report as per the country requirements.
Regards
Sowmya