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Create Revenue Plans On: Fulfillment (Create Actual Revenue Plans based on Item Fulfillment of SO)

edited Jun 3, 2022 5:27PM in Accounting / ERP

When the Advanced Shipping feature is enabled users can set their Revenue Arrangements to create Actual Revenue Plans based on the item fulfillment.

For example: User wants to recognize revenue based on the sales amount of the quantity they fulfill. They have created a Sales Order for 10 Inventory items amounting to $10,000

Solution:

1.) Create a Revenue Recognition Rule that has Amount Source set to Event-Percent based on quantity and Rev Rec Start Date/End date Source set to Event Date (since user wants to recognize revenue every after fulfillment):


2.) Go to Item Record > Revenue Recognition / Amortization tab and set the Create Revenue Plans to Fulfillment and add the recently created Revenue Recognition Rule:

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