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.