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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.

Prerequisites

   Enter invoices with rules

   To run the revenue recognition program:

1. Navigate to the Submit Requests window.

2. Enter 'Revenue Recognition' in the Name field.

3. Enter the range of GL Dates of the accounting period in which to create distribution records. Receivables verifies that the dates are in an open accounting period.

4. Choose a print format of either Summary or Detail and whether to Commit your work.

Enter Yes to Commit the distribution records created by Revenue Recognition. If you set Commit Work to No, Receivables rolls back the creation of the distribution records when it completes your Revenue Recognition submission.

5. Choose OK.

6. Enter Print Options, including the number of Copies to print, the Style, and the Printer to use.

7. To save the output of the Revenue Recognition program to a file, check the Save Output check box.

8. To run Revenue Recognition more than once, enter Run Options, including the time and date To Start and End Resubmission.

9. Choose Submit. Receivables displays the Request ID of your concurrent request and creates the Revenue Recognition Program Execution report.

You can use the Request ID to view your submission in the Concurrent Requests Summary window. Use the Revenue Recognition Program Execution report to see all of the revenue distribution lines that the program creates. See: Revenue Recognition Program Execution Report.

See Also

Importing Transactions Using AutoInvoice

Invoices with Rules