Create/ Copy Forecast Version
Explanation
Use this activity to create a revenue recognition forecast for selected project/(s).
It is also possible to create revenue recognition forecast based on an existing
forecast.
Prerequisites
- Revenue Recognition Forecast Type and Revenue Recognition Period Profile
must be defined.
- At least one project must have Revenue Recognition Method POC Income
First or POC Revenue First or Event Based.
System Effects
As a result of this activity:
- Revenue recognition forecast for selected projects will be created according
to the selected Revenue Recognition Period Profile (Note: If the
Add Period for the Expected Date of Completion is enabled in the
period profile, a period will be created for the valid until date of the
project irrespective of the selected period profile. If not, period will
be created based on the selected period profile).
- Forecast lines will be generated from the period next to cut off accounting
period according to the connected period profile.
- Status of the revenue recognition forecast will be Preliminary.
- All Projects Included will be enabled if all projects having
Revenue Recognition Method POC Income First or POC Revenue First
or Event Based have included in the revenue recognition forecast.
- If actual costs related the project exist in the general ledger, balance
will be fetched to Actual Cost to Date field. This field is not available
for projects having Revenue Recognition Method Event Based.
- Accumulated recognition amounts will be updated for each period according
to the expected completion date of the events connected to projects having
Revenue Recognition Method Event Based.
- Value for Gate POC Applied field will be updated
based on the percentage of completion (POC) of the event. If this field
is marked as YES, it will indicate that Gate POC is
applied for the event when calculating Revenue to Recognize.
This field is only applicable for projects having Revenue Recognition
Method Event Based and Apply Gate POC
is enabled.
- If actual revenue recognition amounts available for the project, details
will be displayed in the Latest Revenue Recognition Information section
of the revenue recognition forecast.
- If revenue recognition forecast is created based on another revenue
recognition forecast, details of the forecast you copied data from will
be displayed in the Previous Forecast section of the revenue recognition
forecast.