Revenue Recognition
Revenue is recognized based on revenue schedule.
Revenue schedule is created during contract creation based on contract duration, price , service start date and end date.
Revenue schedule for a contract line can be modified manually as par the business need.
Modify revenue amount
To modify the revenue amount or put on hold a revenue line for any period, open the “Show Revenue Arrangement” for the contract .
Click the “Select” field in the performance obligation line and click “Contract Line Detail”
In the revenue schedule section , click “Select” and click “Edit” to go to the detail of the revenue schedule.
Revenue amount can be changed in the revenue schedule line for this period.
Unclicking the scheduled checkbox will not schedule revenue for this period
Save the record.
You can see the change in view Revenue arrangement screen. If the line is not scheduled , revenue will not be recognized for this line .
Revenue recognition program identifies the revenue lines to be recognized.
Revenue recognition program can be run anytime in a period though the prefered time is at the end of the period. Revenue schedule lines are picked up during revenue recognition for a period.
Revenue recognition program can be run multiple times in a period.
Run the revenue recognition program