How to change the accounting segment values using mass action functionality in RevPro?
There is a feature available in RevPro to change the Accounting segment values using the mass action functionality.
In order to provide the step by step explanation, collected the below shown SO Lines into RevPro with the Deferred segment as 101-21210. Now let us see how we can change this segment to a value of 101-21220.
Below are the screen prints from the Workbench and the Journal Entries screens in RevPro before correction.
Now let us change the segment value.
- Navigate to Workbench >> Manage Mass Actions from the main menu.
- Click the + icon to create a new mass action batch
- Select the values for the fields as given below and click the save icon.
- Action On = Accounting
- Action Type = Update schedules
- Schedule Type = Adjustment (or) Contractual Revenue
- Account Name = Adjustment Liability (or) Contract Liability. In this example we have chosen Schedule Type as Adjustment and Account Name as Adjustment Liability, since we are going to change the Deferred Segment value.
- Period Type = Unposted Schedules.
- Inside the Account Details panel, enter the old segment values and the new value which needs to be reflected upon change.
- Now, navigate to Filters tab and click the + icon to add new filters to identify the specific transaction to be updated. Once done, click the save button, to create a new mass action batch. Close the screen to go back to the Mass Action batches screen.
- Click the Query Data icon on the batch that we just created in order to prepare the lines which need to be updated. Now the status of the batch will change from NEW to Query Data In-progress which eventually changes to Data Identified.
- Now, click the Review Data icon to verify that the correct lines are picked for update in the resulting screen.
- Upon verification, click the Update Schedules button to change the segment value.
- Once the System changes the segment values, the batch status changes to Action Completed.
- Now query the RC from the Workbench and verify the changes in the Lines, Billing and the Journal entry for the reported line in the respective tabs.
Points to Note:
- The accounting segment value changes can be done only for the lines which are yet to be posted.
- System reverses the Initial Contract Liability entry already booked on the old account if the line is invoiced and rebooks with the new account to ensure that the entries are in sync with the source system and posts both reversals and the new entries to GL.
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