How to settle accrued income which is already being invoiced and collected?

[Former Member]

Dear All,

I need your guidance, to resolve following issue:

We had created a Delivery of Rs. 48,000/- say, on 10.06.2009; and subsequently we raised the invoice on 12.06.2009 for the said-delivery. We recognized the income for Rs. 48,000/- within the said-Delivery on 30.06.2009.

The Accounting Document was Cleared on 07.07.2009.

Now, we have noticed that out of this Rs. 48,000/-, there is Rs. 3400/- still showing as accrued Income, and Rs. 44,600/- as Deferred revenue.

Now, my problem is "how come we can settle this accrued income of Rs. 3400/- as in reality this is already being invoiced and collection Done.

If, there is any other clarity required, from my side, Please let me know.

Best Regards,

Amit

[Lakshmipathi]

Sorry your explanation is not clear to me.

Do you mean to say you invoiced Rs.48K and received the same in full.

If so, what amount was keyed in F-28 ?? Also what do you mean by accrue and where it is showing as accrue ?? Is it in FI document or SD ??

thanks

G. Lakshmipathi

[Former Member]

Hi,

Follow Below Steps:

1. Goto your agreement Tcode: VBo2

From there you can settle this amount either partial or full settlement

For example if you settle or partial you will get credit memo request then save the agreement,

2. Goto Tcode:VA02 here remove the Billing block save the Credit Memo request

3. Goto Tcode: VF01 create Credit Memo. in this way you can settle the acrrued income.

Best Regards

MH

[Former Member]

Dear Minahazoddin ,

Thanks for the reply.

Credit Memo is generated when the amount is in dispute for collection, whereas in this case, client has paid full amount.

Also, this disputable amount is in Accrued Income and not in deferred.

Best Regards,

Amit.