RE-FX Wrong calculation with an special Fiscal Year Variant

[former_member775918]

Hello

Please help!

We are implementing RE-FX module for IFRS16, and we are using a special Fiscal Year Variant OK (4-4-5), so, the system should calculate based on this, but the system calculate based on K4 Fiscal Year Variant (Full month 30 days)

In the configuration we added the fiscal year variant OK (Fiscal Year Variant in United States). The problem is in the liability and valuation calculation

In this example, we created a contract with the valid date From 01.SEPTEMBER.2021 to 30.APRIL.2022:

In the “Conditions” tab, the ammounts are calculated with the Fiscal Year Variant K4, the calumns “Calc. From” and “Calc to” are with the full month (30 DAYS)

Finally, the information in the “Simulation” tab is not correct, when we run the posting the system is calculating the full September month (30 days):

Is the same problem in the valuation posting, in the “Clearing” tab the system is considering the full months (Fiscal year variant K4)

In the “Depreciation” and “Interest” tabs the system consider the OK fiscal year variant but the ammomunts are separated in 2 ammount, the system should calculate an accumulated ammount

What do i need to change to resolve my issue?

Best Regards

[former_member763929]

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[JFPC]

Hello Victor,

May I ask how you receive the invoices? I guess your vendor sends you an invoice based on months and not on your 4-4-5 variant? If so the clearing posting from the liability can be offset against the received invoice since both are monthly amounts.

In your P&L you only have depreciation and interest in your 4-4-5 variant so this is correct in case of IFRS16 valuation. You only have to make the postings of the valuation also in the rhythm of your 4-4-5 variant instead of running it at month end. The depreciation posting is done in your variant so it will post the accumulated amount directly.

In case you need to have the costs of the invoice in a different ledger directly in the P&L without activating it you need an additional valuation rule which has to go via the Accrual Engine to make the posting of these costs according to your 4-4-5 variant.

So in short the valuation is correct and interest and depreciation are posted in the correct periods. In case you need to post the clearing posting of the liability also in this 4-4-5 variant you need to set up a separate valuation rule which does not activate the amount but straight lines it. This posting can be picked up in the Accrual engine.

Best regards,

Jeroen Pasman