SECTIONS
The first time you generate revenue schedules for a source record, if the source record has a Recognized to Date Value it is treated as the opening balance and a revenue schedule line with the status "Opening Balance" is generated. The opening balance value is subtracted from the source record's Total Revenue, and the remainder is scheduled over the periods following the opening balance period. However if a catchup adjustment is needed, a "Recognizable" revenue schedule line is generated in the opening balance period (see the example below). For details of how the opening balance period is determined, see "Controlling the Opening Balance Period" below.
Revenue schedule lines with the status "Opening Balance" are not included in revenue recognition because their revenue has already been recognized.
Once you have recognized revenue on a source record that has an opening balance line, if you make further changes to the source record the opening balance line is not updated. If you need to update the opening balance information, for example to change the opening balance value, you must discard the revenue recognition transactions linked to the source record's "Complete" revenue schedule lines.
Controlling the Opening Balance Period
When you enable the Recognize Revenue Schedules feature, feature step 3 sets the Global Opening Balance Cutoff Date to the current date. You can change this date by editing the Global Opening Balance Cutoff Date field in the Revenue Management Settings custom setting. The date set in the Global Opening Balance Cutoff Date field determines the opening balance period used for your source records unless you configure a field mapping in your source object's settings record for Opening Balance Cutoff Date.
If you configure a date or date/time field mapping for Opening Balance Cutoff Date in your source object's settings record, and the mapped field on your source record is populated with a date, it overrides the Global Opening Balance Cutoff Date. This means that the date representing the opening balance cutoff date on the source record determines its opening balance period. If the mapped field on the source record is not populated with a date, the Global Opening Balance Cutoff Date applies.
If there is no mapping for Opening Balance Cutoff Date in a source object's settings record and the Global Opening Balance Cutoff Date field is not populated, then the source record's start date is used to determine its opening balance period. For source records using a Deliverable template, the end date is used.
Example
A source record with a Total Revenue of 12000 uses an Equal Split - Months template.
The source record's start date is January 1, 2022 and end date is June 30, 2022.
The Recognized to Date Value is 2500, and the Opening Balance Cutoff Date is March 1 2022.
When you generate revenue schedules for the source record, the following revenue schedule lines are generated. Note that revenue schedule lines are not created for the January and February periods.
|
Period |
Revenue |
Status |
|---|---|---|
| 2022/003 | 2500 | Opening Balance |
| 2022/003 | 3500 | Recognizable |
| 2022/004 | 2000 | Recognizable |
| 2022/005 | 2000 | Recognizable |
| 2022/006 | 2000 | Recognizable |
| Total | 12000 |
The line for 3500 is a catchup adjustment because 6000 should have been recognized during the first three months.
If you edit the source record before any revenue schedule lines are recognized, next time you generate revenue schedules the lines are updated to reflect the latest changes.