Adding Item Revenue Categories
Item revenue category is a classification for items that have similar characteristics and revenue allocation requirements.
You can select an item revenue category when you are setting up a fair value price list instead of selecting individual items. For information, see Creating the Fair Value Price List.
To create an item revenue category:
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Go to Revenue > Setup > Item Revenue Categories > New.
The Item Revenue Category permission controls access to this page. This permission belongs to the Lists permission type.
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Enter a Name for the category.
This name appears in lists. Use unique, descriptive names, but keep them short so they can be read in the lists. For example, if you want two license categories, use names such as License-Perpetual and License-Term.
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Complete the following optional fields. All fields are displayed in the Item Revenue Categories list.
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Description – Use this field to provide a longer description than is practical for the name.
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Fair Value Formula – Select the default formula for fair value price records created for this item revenue category and for items included in this category. To add options to the list, see Adding Fair Value Formulas.
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Fair Value Range Checking Policy – Select a value as the default for fair value price records created for this item revenue category and for items included in this category. This field is visible only when the Enable Fair Value Range Checking accounting preference is checked.
The options are:
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Boundary – If the discounted sales amount is between the high and low values of the range, it is used as the calculated fair value amount. If it is outside the range, either the high or low value is used, whichever is closer to the discounted sales amount.
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Fair Value – If the discounted sales amount is outside the range, the base fair value is used as the calculated fair value amount.
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High – If the discounted sales amount is outside the range, the high value is used.
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Low – If the discounted sales amount is outside the range, the low value is used.
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Click Save or Save & New.