Execute Revenue Recognition
Explanation
This activity is used to calculate the revenue recognition for project/(s)
with the Active project status and revenue recognition method POC
Revenue First or POC Income First or Event based for the selected ledger and period.
Prerequisites
- The periodical capitalization and revenue recognition status of the select
project/(s) must have the
Capitalized status.
- Any previous revenue recognition procedures for
the same ledger selection must
have the Posted/Closed status.
- The selected project/(s) must have the Active
status, the revenue recognition method must have been set to POC Income First or POC
Revenue First or Event based, and the estimates must have been entered on the
Financial
Project/Project Totals
tab.
System Effects
- The status of the periodical capitalization and revenue recognition
procedure will change from
Capitalized/ Partially Capitalized to
Calculated/ Partially Calculated.
- The periodical capitalization and revenue recognition status of the
project will change from
Capitalized to
Calculated.
- If 0% margin rules have defined in the project and/or company, such
rules will be applied for qualified projects and 0% Margin Rule Applied
from field in the Periodical Capitalization and Revenue Recognition Project window will
be updated. Note: Project specific rule will get priority over
company rule.
- If the select project/(s) is not qualified for revenue recognition, the
periodical capitalization and revenue recognition status of the project/(s) will
be changed to Posted/Closed and will be updated as an
Empty Revenue
Recognition.
- A history log will be automatically created for the calculation for the
projects included in the calculation with POC Method set to Project
Progress.
A log will not be created if a log with a date higher than the
Valid Until date already exists for the period defined for the procedure.