Post Earned Revenue

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Module: Project Administration  

Applet:  Post Earned Revenue

 


Description - When the utility is run, an entry is made to the General Journal posting revenue against unbilled revenue and WIP accounts. It is recorded to the appropriate WBS level and expense code, if any. These entries are marked as coming from revenue recognition.

 

Note: This utility can be run at any interval (daily, monthly, hourly). There is an option in Global Settings to delete all revenue recognition entries in the current period prior to posting. This is useful if a user wants to post revenue on a daily basis but does not want a cluttered ledger.

 

A user can exclude projects from participating in revenue recognition by flagging them in the project setup profit center section.

 

A user can also make revenue adjustments in the General Journal and flag them to be excluded from revenue calculations.

Descriptions are listed below

ProjAdm_PostRev

 

The post utility settings are as follows:

 

Period - General ledger period. Used as cutoff for transactions and for posting.

 

Error Account - General ledger account to use if an account cannot be derived.

 

Unbilled Revenue Base Codes

 

Labor - Unbilled labor revenue base account (non subcontractor)

 

ODC - Unbilled ODC revenue base account

 

OCC - Unbilled OCC revenue base account

 

ICC - Unbilled ICC revenue

 

Labor Upset - Unbilled labor revenue upset base account

 

ODC Upset - Unbilled ODC revenue upset base account

 

OCC Upset - Unbilled OCC revenue upset base account

 

ICC Upset - Unbilled ICC revenue upset base account

 

Subcontractor - Unbilled labor revenue base account (subcontractor)

 

WIP Base Codes

 

Labor - Work-in-progress labor base account

 

ODC - Work-in-progress ODC base account

 

OCC - Work-in-progress OCC base account

 

ICC - Work-in-progress ICC base account