Use this activity to create period profiles which can be used to create revenue recognition forecasts. The purpose of the period profile is to support users to create revenue recognition forecast for projects periodically, quarterly, bi annually or annually.
When defining the profile, user has an option to decide whether to create a period for valid until date of the project using Add Period for the Expected Date of Completion or to continue with the period profile irrespective of the valid until date of the project. For example: if the valid until date of the project belongs to accounting period 20XX-04 and accounting calendar is January to December, then if forecast need to be created on quarterly basis, user can decide the last period of the forecast should be 20XX-04 or 20XX-06.
Note: Sequence No field is used to apply the order in which different period types should be applied. By default the order in which period types are entered is suggested as the sequence but it is possible to modify.
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Creates revenue recognition period profiles will be made available through a Drop-down when creating revenue recognition forecasts.