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Revenue Creation Plans
What happens when nothing is entered under Create Revenue Plans and Revenue Recognition Rules? Does the item then get posted when it is created via an invoice? I have several fees that I want to be posted when entered as an expense or fee income. Don't need to go through revenue recognition.
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NSC | Revenue Recognition Method: How is Straight-line, prorate first and last period calculated?
Scenario: Straight-line, prorate first and last period method is used to assign revenue in equal amounts for periods other than the first and final periods. Revenue Amounts are prorated for the first and last period based on the total number of days of the revenue recognition period. Here is an example: Amount: $10,000.00…
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NSC | Revenue Recognition Method: Straight-line, prorate first & last period (period-rate)
When Straight-line, prorate first & last period (period-rate), even amounts are allocated to the in between periods while the first and final periods based on the number of days are prorated. Here is an example of an allocation Revenue Plan with $10,000 revenue amount. Example: Amount: $10,000.00 Start Date: February 11,…
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NSC | Revenue Recognition Method: Straight-line, using Exact Days
Scenario: When users use Straight-line, using exact days, Revenue Amount is allocated per period based on its number of days within the recognition period. For example Revenue Amount: $10,000 Rev Rec Start Date: January 30, 2022 Rev Rec End Date: April 25, 2022 Solution: Here's how user's can check the Revenue Amount…