Post revenue recognition—AR or Order Entry
Related information
Related topics
You can post revenue manually or Intacct can post it automatically on the scheduled posting date, depending on the revenue recognition template settings.
This topic describes how to post revenue recognition manually.
| Subscription |
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|---|---|
| Regional availability |
All regions |
| User type |
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| Permissions |
General Ledger
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| Restrictions |
Only Business users can post revenue Employee, Project Manager, and Warehouse users can only list and view revenue schedules. |
| Dependencies | The posting date must be in an open period. |
About posting revenue recognition
The Manage Revenue Schedules page lets you manually post revenue for sales transaction line items. Use the filters to display the desired revenue recognition schedules, then select the rows you want to post.
The posting process creates journal entries that debit the applicable deferred revenue account and credit the applicable sales revenue account for the scheduled revenue.
- Intacct uses one of the following for the deferred revenue account:
- The deferred revenue account specified on the item GL group associated with the item.
- The default deferred revenue account associated with the transaction definition in Order Entry configuration. Intacct uses this account if there is no deferred revenue account associated with the item GL group.
- Intacct uses the sales revenue account specified on the source transaction definition for the item GL group. The source transaction definition is the transaction definition used by the transaction that contains the revenue schedule.
Before posting revenue recognition
- View the revenue recognition schedule to see details of what has been posted and what is still available to post.
- Verify that an entry's Scheduled posting date is in an open period. If it's in a closed period, edit the revenue schedule to move the posting date to an open period.
- In a multi-entity company, the revenue recognition schedules that you can post depend on whether you're at the top level or at the entity level. Make sure you are in the applicable level to post the desired revenue recognition.
Post revenue recognition
- Go to Accounts Receivable or Order Entry > All > Revenue recognition > Manage revenue schedules.
- In the Action options field, select Post, define other filter criteria as desired, and select Preview.
The Filtered schedules section displays only transaction items containing revenue recognition schedules from which you can post revenue. A Post button also appears in the page header.
- Select the checkbox to the left of the items from which you want to post revenue or select the checkbox in the Select column header to select all items.
- (Optional for multi-currency companies only) Enter the applicable Currency gains and loss details in the applicable fields.
This information will apply to all selected items.
- Select Post.
If the post was successful, a green bar and check mark appear in the header and indicates the number of schedules for which revenue was successfully recognized.
If the post was not successful, a red bar and x appear in the header and indicates the number of schedules from which revenue couldn’t be posted due to data error.
- If there were errors, select Fix these schedules to view source transactions and line item numbers to use to investigate the errors.
Revenue recognition posting example
In this example, the total amount of the revenue recognition schedule is 10,000. 3,076.93 has already been recognized.
As some revenue from the schedule has been recognized, the status of the schedule is In Progress. The portion of the total amount that still needs to be recognized is 6,923.07. The next portion of revenue recognition available to post is for the amount of 769.23 and is scheduled to post on Jan 31.
If we posted the revenue recognition from the above example, the page would refresh and display the next available revenue recognition information from the revenue recognition schedule (in the Next posting date and Next posting amount fields), as in the following example:
