Post Revenue

Use this screen to control the posting of revenue to the General Ledger for both the Compute Revenue (Projects\Process\Revenue) and Redistribute Revenue (Projects\Process\Revenue) screens. You can post revenue separately after each process is complete, or you can post after completing both processes. Posting separately (once after the Compute Revenue process and once after the Redistribute Revenue process) will provide you with a more detailed journal, but it is not necessary.

Revenue posting is a year-to-date "adjust-to" process. The system sums account balances from the GL_POST_SUM table for the revenue account for all periods, up to and including the subperiod being calculated. The revenue account contains an Account Function Code = Revenue, and is set up at the level of the project where the revenue formula is entered. The system subtracts this amount from the sum of revenue amounts from the PROJ_SUM table for all subperiods, up to and including the one being posted, and posts the difference to the revenue account in the GL_POST_SUM table for the current subperiod. Therefore, it is possible that revenue per GL Post Sum, does not equal revenue per the PROJ_SUM table on a period-by-period basis. However, the two should be equal to YTD. The exception to this rule is when the revenue formula is set equal to the Project Ledger. In this instance, no revenue is posted through this journal.

You can post revenue at either actual or target rates. If you select a target revenue posting, you can post cost variances between actual and target rates.

You can also post revenue for the owning organization or performing organization, in accordance with your radio button selection in the Revenue Information screen. If you post revenue for the performing organization, a process for redistributing cost to the owning organization may be required for financial statement purposes.

When should I use this screen?

Execute this process either after the Compute Revenue screen (Projects\Process\Revenue) or after the Redistribute Revenue screen (Projects\Process\Revenue), and before printing financial statements.

Field Descriptions

Identification

Use the fields in this block to create a new parameter ID or to retrieve a previously saved parameter ID. A parameter ID represents a set of screen selection parameters. Once you have saved a parameter ID and its related parameters, you can retrieve them using Query.

You can use the retrieved parameters to produce reports and run processes more efficiently and with greater consistency. Many users save a unique set of parameters for each different way they run a report or process. If you select a previously saved parameter ID or parameter description, the associated saved screen selection parameters will automatically display as selection defaults. You can change any of the associated selection defaults as necessary.

Enter, or use Query to select, a parameter ID of up to 15 alphanumeric characters. You should choose characters for your parameter ID that help identify the type of selections you made in the screen, such as “PERIOD” or “QUARTERLY.”

When you save your record, all the selections made in the screen are stored with the parameter ID. Later, you can retrieve the parameter using Query.

You can use the parameter to produce reports and run processes more efficiently because you can select the parameter ID with its previously defined screen selections. Once the default selections display in the screen, you can override the defaults as necessary.

Enter, or use Query to select, a parameter description of up to 30 alphanumeric characters.

Selection Ranges

Use the fields in this group box to select the projects and accounting period for which you want to post revenue.

Use this drop-down box to select the range of projects for which you want to post revenue. The following options are available:

All - Select this option to include all available projects. The Start and End fields are disabled for this option.
One - Select this option to include only one project. You must enter that value in the Start field. The End field is disabled for this option.
Range - Select this option to include a contiguous range of projects. You must enter the beginning value for the range in the Start field and the ending value of the range in the End field.
From Beginning - Select this option to include all the projects from the beginning of the available projects to a specific project in the range. You must enter the last value for the range in the End field. The Start field is disabled for this option.
To End - Select this option to include all the projects from a specific project to the end of all the available projects. You must enter the value from which the range should begin in the Start field. The End field is disabled for this option.

Enter, or use Lookup to select, a starting project number for the range that you want to include in the process.

If you select "One," "Range," or "To End," in the Projects Option field, you must enter a project number in this field.

If you select "All" or "From Beginning" in the Projects Option field, this field will be inactive.

Enter, or use Lookup to select, an ending project number for the range that you want to include in the process.

If you select "All," "Range," or "From Beginning" in the Projects Option field, you must enter a project number in this field.

If you select "One" or "To End" in the Projects Option field, this field will be inactive.

This non-editable field displays the "One" option. This is because you can only run this process for one accounting period at a time.

Enter, or use Lookup to select, a fiscal year for which you want to post revenue.

Enter, or use Lookup to select, an accounting period for which you want to post revenue.

Enter, or use Lookup to select, a starting subperiod number for which you want to post revenue.

This non-editable field displays the ending date of the subperiod entered in the Subpd field.

Options

Use the fields in this block to select a rate type and variance method for posting revenue. You can also select to sort the revenue journal by project and elect to post zero revenue amounts.

Your selection in the Rate Type drop-down box will apply only to cost-plus type contracts and, if you select Target, you will need to evaluate the options in the Select Variance Posting drop-down box.

The Select Variance Posting, Sort by Project, and Include Zero Revenue Amount fields will be available only if you have selected the Target option in the Rate Type drop-down box.

The options available for posting revenue are as follows:

Actual - Select this option if you want to post revenue using actual rates.
Target - Select this option if you want to post revenue using target rates. If you select this option, you can select a variance posting.

Note: The Compute Revenue screen (Projects\Process\Revenue) computes revenue at target and actual rates simultaneously.

The following options are available in this drop-down box:

Do Not Post Variances - Select this option to ensure that no cost variances are posted. This option is automatically selected when your rate type is Actual.
Post Variances for Cost Reimbursable Projects Only - Select this option to post cost variances between actual and target burdens, by pool number, to the Cost Variance and Receivable Variance Account/Org combinations specified in the Pool Base subtask of the Cost Pools screen (Projects\Maintain\Allocations). This option is enabled when you select Target in the Rate Type drop-down box. The system looks for a revenue formula in the project revenue setup that begins with "Cost Incurred Plus" to determine a cost reimbursable project.
Post Variances for All Projects - Select this option to post cost variances between actual and target burdens, by pool number, to the Cost Variance and Receivable Variance Account/Organization combinations specified in the Pool Base subtask of the Cost Pools screen (Projects\Maintain\Allocations). This option is enabled when you select Target in the Rate Type drop-down box.

Note: Starting with version 6.1, if you are posting using Target rates and select this option, Indirect, Bid & Proposal, and IR&D projects are included in the variance posting process.

Clear Variances - Select this option to perform two variance functions. When you select this option, the system will remove any previously posted variances and will not allow any new variances to be posted. Use this option when posting at Target. Since there are no variances for Actual postings, this option is not available for Actual.

Select this checkbox to sort revenue and variance journals by project number. This is an optional sort. The standard sort is by account/organization, and a journal sorted by account/ organization will always be printed.

Select this checkbox to include zero revenue amounts in the posting.

If you entered a ceiling or adjustment that has reduced the current fiscal year revenue in the Project Summary table (PROJ_SUM) to zero, you can select this checkbox to post the negative amount required to reduce the General Ledger (GL_POST_SUM) to zero. If you are posting by performing organization (see the Revenue Information screen (Projects\Maintain\Revenue)) and use the Redistribute Revenue screen (Projects\Process\Revenue), you must select this checkbox to reduce the revenue account balance in the General Ledger (GL_POST_SUM) to zero.

If you do not select this checkbox, the system will not post for projects that have year-to-date revenue amounts of zero. This option increases this screen's processing time, so you should use it only if you require a reduction to the General Ledger revenue amount. An alternative to this option is a journal entry to reduce the revenue in the General Ledger. If this checkbox remains unchecked, the total revenue columns (TOT_REV_ACT_AMT or TOT REV_TGT_AMT) in the PROJ_SUM table are zero, and the GL_POST_SUM will not be updated.