Revenue Transaction Summaries

Revenue transaction summaries are useful if you want to create summary journals for posting in your accounting system.

A revenue transaction summary is a summary of revenue recognition transaction line details grouped by General Ledger Account (GLA), GLA Type, and fields specified in the Summarization Fields field set which includes Cost Center by default. You can change the fields in the Summarization Fields field set to customize the summarization criteria. For more information, see Specifying Summarization Criteria.

Revenue transaction summaries are created automatically if the Revenue Management Settings, Create Transaction Summaries on Commit custom setting is enabled. See Managing Custom Settings for more information.

If this custom setting is not enabled, you can summarize revenue recognition transactions manually. You might want to do this if, for example:

  • You have upgraded from an earlier version of Revenue Management and transactions that were created in the previous version have not been summarized.
  • You have run the application for a while before enabling the Create Transaction Summaries on Commit custom setting.
  • You want to choose which transactions to summarize.

Only revenue recognition transactions with the "Committed" status can be summarized.

Note:

If you are recognizing revenue against revenue schedules instead of against source records, see Automation of the End-to-End Process for Recognizing Revenue against Revenue Schedules for information about how summarization might be automated in your org.

How Revenue and Cost Amounts are Summarized

Both revenue and cost amounts on transaction lines are summarized:

  • Revenue amounts are grouped by GLA Revenue, GLA Type, and fields in the Summarization Fields field set which includes Cost Center by default.
  • Cost amounts are grouped by GLA Cost, GLA Type, and fields in the Summarization Fields field set which includes Cost Center (Cost) by default.
Note:

Grouping is case-insensitive. For example, if you are grouping by Cost Center and you have two transaction lines for revenue amounts with the cost centers Vehicles and VEHICLES, they will be grouped together in one revenue transaction summary if their GLA and GLA Type fields match.

Summarizing Transactions Manually

You can summarize revenue recognition transactions manually from the list view and from the detail page:

  1. Click the Revenue Recognition Transactions tab.
  2. Choose a view from the drop-down list.
  3. Then do either of the following:
    • To summarize multiple transactions at once, multi-select the transactions in the list view then click Summarize.
    • To summarize a single transaction, display the transaction's detail page then click Summarize.

In both cases, this initiates a batch job to summarize the selected transactions by GLA, GLA Type and Cost Center.

These summary records are displayed on the revenue recognition transaction's detail page, in the Revenue Transaction Summaries related list.