Revenue Recognition Event Types

The event type that you select determines which of the fields in the Events group box on the Revenue Plan page are relevant to the event. This table discusses the event types that you can select and the fields that are relevant to them:

Event Type Event Type Definition Associated Fields for the Event Type

Milestone (Contracts)

Select an event type of Milestone and a milestone origin of Contracts (PeopleSoft Contracts) to associate the revenue recognition event with a milestone that you have defined in PeopleSoft Contracts.

Event Status MS Orig (milestone origin, also referred to as milestone source), Milestone Nbr (milestone number), Milestone Status, Description, Notes, Percentage Amount

Milestone (Project Costing)

Select an event type of Milestone and a milestone origin of Projects (PeopleSoft Project Costing), to associate the revenue recognition event with a milestone that you have defined in PeopleSoft Project Costing.

Event Status, MS Orig (milestone origin, also referred to as milestone source), Notes, Project, Percentage, Amount

Date

Select an event type of Date to associate the revenue recognition event with a specific calendar date.

Event Status, Date, Notes, Percentage, Amount

The criteria for a revenue plan event to be valid for booking is based on the event type that you select.

Events tied to Milestone event types are valid for booking when all of the following items are true:

  • The revenue plan has a Ready status.

  • The event has an event status of Ready.

  • The milestone is complete.

    The way in which the system evaluates that a milestone is complete varies by the milestone origin, either PeopleSoft Contracts or PeopleSoft Project Costing.

  • You have defined a percentage for the milestone event.

Events tied to a Date event type are valid for booking when all of the following items are true:

  • The revenue plan has a Ready status.

  • The event has an event status of Ready.

  • The revenue recognition date qualifies for the date selection criteria in the Amount-based Revenue process.