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How to Schedule Revenue Recognition Journals on a daily basis?

edited Feb 21, 2023 11:33PM in Ask A Guru 2 comments

Is there a way to have this run daily?

We a cdn company and we have a US company receiving millions of sales in US dollars. We consolidate in CDN Dollars.

However revenue recognition is always done at month end and therefore the P&L transactions are happening on the last day of the month and due to the high volume this is impacting our consolidated exchange rates - that is average is basically the same as spot.

For example if i have a 1 month contract for $30. i want $1 recognised a day. I cant see this being possible.... I cant see how i can have a search to do this. If i use transaction date, it would recognise all $30 on the first day of the month... I can see why this cant be done - having 30 journals created for one transaction would not be pretty!!

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