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Revenue Recognition
- Standard functionality supports only amortization but not reclass
- Reclass is required because customer does not split PO based on Revenue
Terms that a company wants to account for
Intercompany Tier solutions
- Accounting for transactions, transfer pricing, middle tier invoicing
is significant in certain businesses
- Internal fulfillment doesn’t provide for nodal or middle tier
invoicing or accounting
- Profit on Inventory needs to be effective
Consignment
- Standard consignment solution does not work for internal (intercompany-inter
plant transactions)
- Trade documentation is not effective for consignment vs sale
- Reporting for consignment from tracking perspective is imperative
Trade and Customs
- Trade specific codes like HTS, ECCN, COO etc need to be factored into
configurations
- Standard Prints donot provide for IOR, Ultimate consignee etc
- Parity between commercial Invoice and financial invoices is a must
- This is a big Compliance item and is heavily subjected to audit
- Global Trade compliance (GTC) is an important aspect in every company
having international presence
EB Tax
Smart Tools
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