Defining a Deferred Revenue Recognition Template

Prerequisites

To define a deferred revenue recognition template, you should have:

  • Contract types defined in the system

Procedure

To define a deferred revenue recognition template:

  1. Click the Admin menu in the Application toolbar.
    A list appears.
  2. From the Admin menu, select D and then click Deferred Revenue Recognition Template.
    The Deferred Revenue Recognition Template screen appears.
  3. Click the Add button in the Page Title area of the Deferred Revenue Recognition Template screen.
    The Deferred Revenue Recognition Template screen appears. It contains the following sections:

    • Main - Used to specify basic details about the deferred revenue recognition template.

    • Parameters - Used to specify the various parameters for the deferred revenue recognition template.

    • Algorithms - Used to associate algorithms with the deferred revenue recognition template.

    • Divisions - Used to associate a deferred revenue recognition template with a division.

    • Characteristics - Used to define the characteristics for the deferred revenue recognition template.

    The Main section contains the following fields:

    Field Name Field Description Mandatory (Yes or No)
    Deferred Revenue Recognition Template Used to specify the deferred revenue recognition template. Yes
    Description Used to specify the description of the deferred revenue recognition template. No
    Status Used to indicate the status of the deferred revenue recognition template. The valid values are:

    • Active

    • Inactive

    		 Yes

    The Parameters section contains the following fields:

    Field Name Field Description Mandatory (Yes or No)
    Distribution Code Used to indicate the distribution code associated with the deferred revenue recognition.
    Note: The Search (The Search Icon icon appears corresponding to this field. On clicking the Search icon, the Distribution Code Search window appears.
    		 Yes
    Contract Type Used to indicate a particular type of contract.
    Note: The Search (The Search Icon icon appears corresponding to this field. On clicking the Search icon, the Contract Type Search window appears.
    		 Yes
    Adjustment Type Used to indicate the adjustment type using which the adjustment must be created.
    Note: The Search (The Search Icon) icon appears corresponding to this field. On clicking the Search icon, the Adjustment Type Search window appears.
    		 No
    Allow Editing Used to allow editing of recognition schedule. No
    Generation Type Used to indicate the type of deferred revenue recognition generation. The valid values are:

    • Automatic

    • Manual

    		 Yes (Conditional)
    Recognition Schedule Used to indicate the schedule of deferred revenue recognition generation. The valid values are:

    • Daily

    • Monthly

    • Weekly

    		 Yes
    Allow Proration Used to allow proration.
    Note: The Allow Proration field appears when you select Recognition Schedule as Monthly.
    		 Yes
    High Proration Limit (Days) Used to specify whether deferred revenue amount must be prorated while revenue recognition. If the number of days from when the policy is enrolled to the end of the month (in which it is enrolled) is greater than the specified limit, then the amount is prorated.
    Note: This field appears when you check the tick-box for Allow Proration.
    		 Yes (Conditional)
    Note: This field is required when the recognition schedule is selected as monthly and when the Allow Proration check box is selected.
    Low Proration Limit (Days) Used to specify whether deferred revenue amount must be prorated while revenue recognition. If the number of days from when the policy is enrolled to the end of the month (in which it is enrolled) is less than the specified limit, then the amount is prorated.
    Note: This field appears when you check the tick-box for Allow Proration.
    		 Yes (Conditional)
    Note: This field is required when the recognition schedule is selected as monthly and when the Allow Proration check box is selected.
  4. Enter the required details.
  5. Associate algorithms with the deferred revenue recognition template, if required.
  6. View the division to which the deferred revenue recognition template is associated in the Divisions section.
  7. Define the characteristics specific to division to which the deferred revenue recognition template is associated in the Characteristics section.
  8. Click Save.
    The deferred revenue recognition template is created.

Related Topics

For more information on... See...
Deferred Revenue Recognition Template screen Deferred Revenue Recognition Template (Used for Searching)
How to associate algorithms with the deferred revenue recognition template Associating Algorithms with a Deferred Revenue Recognition Template