You must be familiar with generating revenue schedules before you start recognizing revenue against them. For information about getting started using revenue schedules, see the following:
- For an introduction to revenue schedules, see About Revenue Schedules.
- For the setup required to generate revenue schedules, see Additional Setup for Generating Revenue Schedules.
- For details of how to generate revenue schedules, see Generating Revenue Schedules.
Before you start recognizing revenue against revenue schedules, you must enable the Recognize Revenue Schedules feature in Feature Console. See Enable Recognize Revenue Schedules for instructions.
Make sure your revenue schedules are up to date before you recognize revenue against them. You can schedule the Generate Revenue Schedules process to run automatically (for example, overnight) to make sure any changes to source records are reflected in the revenue schedules. For information about scheduling the generate process, see Scheduling Revenue Management Processes to Run Automatically.
When you recognize revenue against revenue schedules, the process only recognizes revenue for revenue schedule lines that meet all the following criteria:
- A revenue schedule line must have the recognition status "Recognizable".
- A revenue schedule line's period end date must fall within the periods selected for recognition.
- A revenue schedule line's source record must be flagged for inclusion in revenue recognition.
- A revenue schedule line must belong to a revenue schedule where the Total Revenue, Start Date, End Date, and Recognition Method match the related source record. If the source record has changed, meaning that these values do not match, the revenue schedule line is not recognized. You must regenerate the revenue schedule before recognizing.
When the Recognize Schedules process starts, it runs in the background. You can monitor its progress from the Process Runs page. When it finishes you are notified by email with a link to the relevant process run record, which is where you can find log information.
Using Deliverable Templates
If you have source records using "Deliverable" templates, the settings record linked to each template includes field mappings to identify whether or not a source record is completed (delivered). This ensures that a revenue schedule line is not recognized before its source record is marked as completed:
- When a source record is not marked as completed, its revenue schedule line is generated with the recognition status "Pending", meaning that it is not available for revenue recognition.
- When a source record is marked as completed, its revenue schedule line is generated with the recognition status "Recognizable", meaning that it is available for revenue recognition.
If you edit a source record so that it is no longer marked as completed but its revenue schedule line has the status "Recognizable", when you run revenue recognition an error will be reported for that line in the process run record.