The Revenue Recognition program uses the accounting distributions that you specify in the Transaction window or pass into Receivables using AutoInvoice to determine the accounts of your newly created revenue distribution records.
When you submit the Revenue Recognition program, you specify the GL date range of the invoices and credit memos you want the program to process. The Revenue Recognition program will only create revenue distribution lines for the invoices or credit memos in Receivables that recognize revenue during this period.
Suggestion: We recommend that you run Revenue Recognition at regular intervals. You can determine how often you need to run the program by examining your data volume. For example, run the program daily for the current open period (from the first day of the open period to the last day in the open period).
The Revenue Recognition program also creates the receivable, tax, freight, and AutoInvoice clearing account assignments which correspond to the GL date of each invoice included in your submission.
You can invoke Revenue Recognition more than once for the same accounting period without creating extra distribution records that overstate your revenue. If you update an invoice's account set distribution, Revenue Recognition will use the new accounts when it creates new revenue distribution records; it will not modify your existing revenue distribution records.
If the Revenue Recognition program has already created the account assignment for an invoice that you want to credit, Receivables automatically creates the correcting account assignments when you enter your credit memo. When you invoke the program in future periods, Revenue Recognition will create the correcting account assignments of credit memos for those periods.
Note: Creating a credit memo against an invoice does not change how the Revenue Recognition program creates its account assignments. Receivables associates all of the reversing account assignments for a credit memo that you enter against an invoice with the credit memo itself.
Importing Transactions Using AutoInvoice
Invoices with Rules