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Revenue recognition process

in Project Management 4 comments

Summary:

Recognize revenue without generating accounting distributions (in context of sponsored project billing)

Content (please ensure you mask any confidential information):

I am looking to understand if it's possible to recognize revenue without generating accounting distributions for revenue recognition. This creates redundant accounting entries for the client that they currently don't use

Currently, our setup is following: we automatically generate an invoice in contract invoices based on (sponsored) project expenditures. One the invoice is transferred to AR, Revenue gets generated with accounting entries to recognize the revenue. Is there a way to simply recognize revenue for reporting purposes without generating accounting entries? so far its done automatically.

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