Revenue Recognition Setup for Accounting

This Feature Console page provides an automated way to configure Accounting for revenue recognition, and for recognition schedule generation. When you enable the feature, fields are added to the source objects (Sales Invoice, Sales Invoice Line Item, Sales Credit Note, Sales Credit Note Line Item) and recognition settings and templates are created so that you can recognize revenue and generate recognition schedules for sales invoices and sales credit notes. See Metadata Changes when Enabling the Revenue Recognition Setup for Accounting for full details.

Enabling the feature also creates the Revenue Management on Accounting permission set which gives access to the fields that are created.

Note:

This feature replaces the Revenue Management Expansion Pack for Accounting. If you have already installed the Expansion Pack, or have manually configured your org to run revenue recognition on Accounting sales invoices and sales credit notes, there is no need to enable this feature.

Ensure that you have system administrator permissions before attempting to enable this feature. For more information about prerequisites, see Enabling and Disabling Features.

To enable the Revenue Recognition Setup for Accounting feature, work through the steps in the order shown on screen. When a step has completed, its Status changes from "Not Done" to "Done".

  1. For feature step 1, click Perform. This step creates fields, recognition settings, recognition templates, and the Revenue Management on Accounting permission set.
  2. For feature steps 2-3, click Perform. These steps update page layouts for the Accounting Sales Invoice and Sales Invoice Line Item objects.
  3. For feature steps 4-6, click Perform. These steps update page layouts for the Revenue Management Recognition Transaction Line, Recognition Schedule, Recognition Schedule Line objects.
  4. For feature steps 7-8, click Perform. These steps update page layouts for the Accounting Sales Credit Note and Sales Credit Note Line Item objects.
  5. For feature step 9, click Perform. This step updates the Manage Lines (SUT), Manage Lines (VAT/GST), and Manage Lines (Combined Tax) field sets for Sales Invoice Line Item and Sales Credit Note Line Item to include the fields added by Revenue Management. This means the fields will be available in the Line Items grid on the Sales Invoice Lightning Page and Sales Credit Note Lightning Page. For information about activating these Lightning pages, see Activating and Configuring Lightning Record Pages for Documents.

When you have completed all the steps, use the Status slider in the Feature section to mark the feature as enabled.

Next Steps

  • Open each recognition settings record that has been created and update the Income Statement and Balance Sheet GLA fields to use the correct codes for your business.
  • Assign the Revenue Management on Accounting permission set to users needing to view and edit the fields that are created by this feature. The fields are listed in Metadata Changes when Enabling the Revenue Recognition Setup for Accounting.
  • Ensure that users have the appropriate permissions before they attempt to run revenue recognition or generate recognition schedules. A full list of permission sets is provided in the Revenue Management Technical Pack, available from the Certinia Community.
  • Create recognition years and periods. For more information, see About Recognition Years and Periods.
  • Assign recognition templates to your source records: sales invoice line items, and sales credit note line items.