Summarize revenue recognition schedule entries—Order Entry

Summarize revenue recognition schedule entry postings to the General Ledger on a daily, weekly, or monthly basis. Summarization reduces posting volume, improves performance, and makes reconciliation and audit processes faster and easier.

About summarization

You can control how revenue recognition schedule entries are grouped when posted to the GL. Choose from the following options:

  • Daily

  • Weekly

  • Monthly

  • One per entry (default)

Entries with the same document type, currency, and location will be combined into a single journal entry based on GL posting date and the frequency you select. The default option, One per entry, does not summarize. It creates a separate journal entry for every revenue recognition entry.

You can review all summaries and their corresponding journal entries from the Revenue Summaries list.

Reporting

You can report on which journal entry is associated with each schedule entry by creating a custom report using the Revenue recognition schedule entry data source and including the following relationships:

  • Deferred revenue GL journal entry

  • Sales revenue GL journal entry

  • Exchange gain loss GL journal entry

The custom reports object Reporting by customer is not supported when summarization is turned on.

Setup: Define a summary frequency

Changes to the summary frequency setting apply only to journal entries going forward.

The frequency you select also appears in a read-only field on the Documents configuration tab in Order Entry for added visibility.

Subscription

Standard revenue recognition for Order Entry
Regional availability

  • Australia

  • Canada

  • South Africa

  • United Kingdom

  • United States
User type

Business user with admin privileges
Permissions

Administration

  • Application subscriptions: List, View, Configure
Configuration Standard revenue recognition must be selected in the Order Entry section of Revenue Management configuration.
  1. Go to Company > Admin > Subscriptions.
  2. Find Revenue Management in the list.
  3. Select Configure.
  4. In the Order Entry section, select a summary frequency for Revenue recognition schedule entries.

View revenue summaries

Use the Revenue Summaries list to view posting dates, amounts, and links to the related journal entries.

Subscription

Standard revenue recognition for Order Entry
Regional availability

  • Australia

  • Canada

  • South Africa

  • United Kingdom

  • United States
User type

Business
Permissions

General Ledger

  • Journal entries: View

Order Entry

  • Revenue summaries: List

  1. Go to Order Entry > All > Revenue recognition > Revenue summaries.

  2. Select a link in the Summary title column to view the summarized journal entry.

Field descriptions: Revenue summaries list

Revenue summaries list field descriptions
Field Description
Transaction number The unique ID of the journal entry.
Summary title

The auto-generated name of the summary. It uses a standard format that includes the following:

  • Transaction definition name

  • Location ID

  • Currency

  • Date range (daily, weekly, or monthly)

  • Batch

Select the summary title to view the corresponding journal entry.
GL posting date

The date when the summarized journal entry posted to the General Ledger.

The individual transactions in a summary are processed immediately, regardless of the GL posting date.
Base currency The base currency of your company.
Total base debit The total of all debit transactions contained within the summarized journal entry.
Total base credit The total of all credit transactions contained within the summarized journal entry.
Open or closed Indicates whether the summary falls within an open or closed period in the General Ledger.