Creating Revenue Recognition Journal Entries
The functions discussed in this topic require the Revenue Commitments feature to be enabled.
A revenue commitment is a non-posting transaction. You must create revenue recognition journal entries to record the revenue for sales transactions with revenue commitments for a period. This process records the revenue according to the revenue recognition schedule attached to the sales order.
To create revenue recognition journal entries for revenue commitments:
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Go to Transactions > Financial > Create Revenue Recognition Journal Entries.
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Follow the steps described in Generating Revenue Recognition Journal Entries.
After you create revenue recognition journal entries, your next step is to reclassify the revenue for revenue commitments and adjust for foreign currency variance, if you use Multiple Currencies. See Reclassifying Deferred Revenue for Revenue Commitments.
Related Topics
- Using Revenue Commitments
- Setting Up the Revenue Commitments Feature
- Revenue Commitments Process
- Advanced Revenue Commitments Overview
- Creating Revenue Commitments
- Reclassifying Deferred Revenue for Revenue Commitments
- Creating Revenue Commitment Reversals
- Revenue Commitment Examples
- Revenue Reclassification Reports