ERP Logic’s custom Cost Recognition add-on aims at providing automated Cost recognition based on straight line – even periods for Professional service Industries. With the add-on deployed you can sit back and focus on the real business KPI”s while our add-on automates all transactional posting reducing human error and time altogether.
Standard SAP ByD system facilitates revenue recognition to recognize the postings from deferred revenue to the actual revenue based on regular intervals at the time of Goods Receipt or Invoice posting.
But cost recognition with respect to customer contract is facilitated only for manual recognized values and not on calculated values based on periods such as number of days, number of months based on a contract.
To fit this missing piece ERP Logic has developed a bespoke solution to recognize the cost booked against the purchases at the time of Goods receipt or Supplier Invoices or GR/IR run.
The add-on takes care of entire cost recognition process with respect to customer contracts and can be triggered with the click of a button based on the user requirement at regular intervals such as monthly, daily, or quarterly cycles.
Custom New Work Center:
On deploying, a custom work center is made available to schedule cost runs and view logs
Work Center to view Periodic Task with status:
Work center to create New Cost Recognition Run:
Detailed view of Run that got executed successfully
If the run results in error, corresponding information can be viewed under “Processed with Error” tab
The cost Recognition custom Add-on to ByDesign thus provides the following benefits to customer
- Easy Implementation and can be further customized based on user needs
- Automated transactional posting
- Reduced Manual work indicating reduced human error and time