Setting Opening Balances

Warning:

This topic describes functionality relating to recognizing revenue against source records (sometimes known as Actuals Closed Refers to the original revenue recognition process where staging data is generated for source records. The Recognize Revenue page and Recognize All use this process.). If you are recognizing revenue against revenue schedules, see Opening Balances for Revenue Schedules.

If you need to migrate data into Revenue Management, you can transfer opening balances by setting a source record's Recognized to Date Value to the opening balance amount. You must do this before any revenue recognition transactions are created for recognizing revenue on the source record.

Similarly, you can set the source record's Amortized to Date Value to an opening balance for cost amortization. You must do this before any revenue recognition transactions are created for amortizing cost on the source record.

The following steps explain how opening balances are handled:

When you run revenue recognition for the first time after setting opening balances, the opening balance amount is displayed in the Previously Recognized column on the Recognize Revenue page (or the Previously Amortized column for cost opening balances).
If there are amounts to recognize or amortize for the current period, these are displayed as usual in the Recognize This Period and Amortize This Period columns.
When you create the revenue recognition transaction, the opening balance amounts are recorded separately in the Recognized Opening Balance and Amortized Opening Balance fields on transaction lines so that they are not double-counted.
If amounts have been recognized or amortized for the current period, these are recorded as usual in the Amount Recognized and Amount Amortized fields.
When the revenue recognition transaction is committed, the Recognized To Date Value on the source record is updated to show the sum of the Recognized Opening Balance + Amount Recognized. For cost amortization, the Amortized To Date Value on the source record is updated to show the sum of the Amortized Opening Balance + Amount Amortized.

Amounts recognized or amortized in future revenue recognition processes are added in the usual way to the source record's Recognized To Date Value and Amortized To Date Value.

Notes:

At step 3, if no amount is recognized or amortized for the current period, the updated Recognized To Date Value or Amortized To Date Value on the source record is the same as the opening balance amount. Revenue recognition transactions with only opening balance values are not included in revenue transaction summaries.

If the Actual vs Forecast functionality is enabled on your org, recognized opening balance values are included in Actual vs Forecast calculations.

Once the Recognized Opening Balance field or Amortized Opening Balance field is populated on a revenue recognition transaction line, an opening balance cannot be reset for that source record. For example, if a future transaction balances out the first transaction and the source record's Recognized to Date Value is null, entering a value in that field again does not result in the opening balance being reset.

Opening balances are included in previously recognized or previously amortized amounts if you run the Transfer Previously Recognized process to transfer previously committed values to performance obligations.

Home and Dual Opening Balance Fields

The following fields on the Revenue Recognition Transaction Line custom object are not added to the object's page layout by default. If you want to include them on the page layout, add them manually.