Understanding the Unbilled Revenue Accrual Process

To create accounting entries for unbilled revenue that you want to accrue within the current accounting period, use the Load GL - Contract Asset process (BIACCRUE). The Contract Asset process enables you to create accounting entries to accrue revenue for uninvoiced activity. Use this process, for example, to send revenue activity to the general ledger weekly when invoices are created monthly.

You must have PeopleSoft GL Journal Edit/Post feature enabled to utilize the Contract Asset process.

You must still run the Journal Generator process to post these accounting entries to the general ledger. You must also run the regular Load GL process after the bill is invoiced to create accounting entries for revenue recognition and accounts receivable offset. Run the Journal Generator process again to post these entries to the general ledger.

To prevent double booking of revenues, associate the accounting entries for unbilled activity to an auto-reversing Journal Generator template. This template automatically reverses accrual entries at the beginning or at the end of the accounting period following an accrual.

The Load GL - Contract Asset process:

• Determines the default unbilled account receivables.

• Refreshes the ChartField values for distribution ID codes within the set of invoices.

• Calculates deferred amounts for the current accounting period.

• Performs currency conversion.

• Performs ChartField balancing and combination editing of balanced entries that are generated.

• Inserts accounting entries into the BI_ACCT_ENTRY table for accrued bills.

Note:

At this time, PeopleSoft Billing does not support unbilled revenue accrual processing for InterUnit bills.

This section provides:

• Examples of unbilled revenue accrual.

• Platform-specific statements in the Load GL - Contract Asset process.