Re-Fx / CLM - Cancel contract setup in error (with postings)

[former_member669285]

Good day -

My question is regarding the SAP re-fx / CLM module. I'm fairly new to SAP, but have a basic question.

Can someone please tell me the best practice on how to handle the scenario below in RE-FX:

Scenario: A contract is setup in error in the wrong company code and there have been valuation and contract postings for the contract already.

How would one cancel the contract (as if it was never setup) and then proceed to setup a contract in a new company code? How would the contract postings and valuation postings be cancelled? How would the asset related to the CLM contract be cancelled / handled? Is there standard functionality in Re-Fx that would handle this scenario?

Thank you

[jerryjanda]

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[andre_nakratzas]

Yes that is correct. The challenge is if the contract postings that have been executed are also paid. In that case you should remove the clearing between the posting document and the payment (do NOT reverse the payment!!!). This will leave the payment on account as an open item, but will now allow you to reverse the periodic postings on the contract.

Once that is done you can set up the new contract and regenerate the postings. Make sure to manually set a payment block on the posted documents, or set the payment block indicator in the contract before running RERAPP, since you don't want to double pay these invoices. After that you need to work with the finance people to discuss the correct approach to transfer the payment from cocd A to B in order for you to clear the open postings.

As you can see once payments have been made it can get a little bit tricky, so import remove the clearing but don't reverse and set the payment block on the new periodic postings to avoid double payment.

Regards, Andre

[andre_nakratzas]

Hi, assuming you haven't made any payments you should:

1. Reverse all the contract postings
2. Deactivate the contract.
3. Delete the contract (this depends if your configuration allows for this)
4. Delete the asset
5. Recreate the contract in the correct company code

Regards, Andre

[former_member669285]

Hi Andre - thank you for the response. When you say reverse all contract postings, do you mean both the valuation posting and contract posting?

Thanks