Actions

This section shows the actions available in the Job Revenue Recognition Details workspace.

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Field	Description
Calculate Revenue Recognition	When you select this action, the completion percentage is calculated for each revenue-recognition detail level displayed in the sub-tab. Depending on the selection in the fields “Percentage, New Revenue Recognition” and “Amount, New Revenue Recognition” in the sub-tab, the completion percentage and the amount to be recognized as revenue are calculated. The results of the calculation are displayed on the lines as well as in the island Revenue Recognized. If a specific revision code has been specified in the island Calculate Revenue, Maconomy makes the calculation on the basis of the approved budget with the assigned specified revision code. The figures calculated by Maconomy can be edited manually in accordance with the completion percentage limit applying to the current line. The completion percentage limit is specified in the field “Compl. % Limit.”
Approve Revenue Recognition	When you select this action, the revenue recognition currently entered or displayed on the lines in the sub-tab (and hence summarized in the field “New” in the island Revenue Recognized) is approved to be recognized as revenue on the job. Upon approval, Maconomy creates a journal of the type “Job Revenue Recognition” for each of the relevant detail levels, which is then ready for posting in the G/L module. When revenue adjustments are posted, one adjusting entry is created for each revenue-recognition detail level for which the revenue currently recognized does not correspond to the calculated revenue contribution of that detail level. The account references chosen for the posting of the entries are derived from the activities applying to each revenue adjustment entry, or alternatively from the activity specified in the job parameter attribute “Activity for Job Revenue Adjustment.” This means that if you have marked the field “Post By Activity” in the window System Information, and you are performing detailed revenue recognition by “Activity” (and possibly another value, such as “Location”), all adjustments created on the activities in question will be posted on the dimension combinations specified in the field “Open Billing Price, Adjustment” on the relevant activities. If you are performing detailed revenue recognition by “Task,” and the relevant tasks derive activities, all adjustments created on the tasks in question will be posted on the dimension combinations specified in the field “Open Billing Price, Adjustment” on each of the activities derived from the tasks. If one or more tasks does not derive an activity, such adjustments will be posted on the activity specified in the job parameter attribute “Activity for Job Revenue Adjustment” in the job parameter of the type “Revenue Recognition.” The journal created for a job which does not use detailed revenue recognition contains entries to the account for the open billing price and the account “WIP Account, Adjustment” which is specified in the window Job Groups in the Job Cost module and the activity specified in the job parameter attribute “Activity for Job Revenue Adjustment” in the job parameter type “Revenue Recognition.” The posting date for this journal will be the date from the field “Revenue Recognition Date.” Once the journal has been posted, the field “Current” in the island Revenue Recognized will display the total amount revenue-recognized on the job, as well as the date on which the revenue recognition was made. Any adjustments resulting from the posting of the journal are also displayed in this island. Note that if you are recognizing revenue by activity, and one or more of the activities registered on the job is non-invoiceable, the budgeted and registered billing price for these activities will be zero. In such situations, the detail levels in which such activities are presented will be ignored by Maconomy and hence not be included in the amount recognized. If you are recognizing revenue by Task and another dimension which is not Activity, any non-invoiceable activities derived from the tasks in question will not be included in the revenue recognized. However, in such situations Maconomy will automatically replace the derived, non-invoiceable activities with the activity specified in the job parameter attribute “Activity For Revenue Adjustment” in the job parameter Revenue Recognition assigned to the job in question, thus allowing you to include the relevant amounts in the revenue recognized. If the job is assigned the job parameter attribute “Revenue Recognition at Missing Budget” with the value “No,” and a registration has been made on a certain detail level (for example, activity or task), Maconomy will not include this entry in the resulting revenue adjustment journal, if no budget line assigned to the job contains a specification of a corresponding detail level which is to be included in the fixed price of the job. If the attribute is assigned the value “Yes,” Maconomy will make a revenue adjustment at every detail level, even though no corresponding budget line has been created for the job in question. See the description of the job parameter attribute “Revenue Recognition at Missing Budget” for further information about the functionality of this attribute.

Field

Description

Calculate Revenue Recognition

When you select this action, the completion percentage is calculated for each revenue-recognition detail level displayed in the sub-tab. Depending on the selection in the fields “Percentage, New Revenue Recognition” and “Amount, New Revenue Recognition” in the sub-tab, the completion percentage and the amount to be recognized as revenue are calculated. The results of the calculation are displayed on the lines as well as in the island Revenue Recognized.

If a specific revision code has been specified in the island Calculate Revenue, Maconomy makes the calculation on the basis of the approved budget with the assigned specified revision code. The figures calculated by Maconomy can be edited manually in accordance with the completion percentage limit applying to the current line. The completion percentage limit is specified in the field “Compl. % Limit.”

Approve Revenue Recognition

When you select this action, the revenue recognition currently entered or displayed on the lines in the sub-tab (and hence summarized in the field “New” in the island Revenue Recognized) is approved to be recognized as revenue on the job.

Upon approval, Maconomy creates a journal of the type “Job Revenue Recognition” for each of the relevant detail levels, which is then ready for posting in the G/L module. When revenue adjustments are posted, one adjusting entry is created for each revenue-recognition detail level for which the revenue currently recognized does not correspond to the calculated revenue contribution of that detail level. The account references chosen for the posting of the entries are derived from the activities applying to each revenue adjustment entry, or alternatively from the activity specified in the job parameter attribute “Activity for Job Revenue Adjustment.”

This means that if you have marked the field “Post By Activity” in the window System Information, and you are performing detailed revenue recognition by “Activity” (and possibly another value, such as “Location”), all adjustments created on the activities in question will be posted on the dimension combinations specified in the field “Open Billing Price, Adjustment” on the relevant activities.

If you are performing detailed revenue recognition by “Task,” and the relevant tasks derive activities, all adjustments created on the tasks in question will be posted on the dimension combinations specified in the field “Open Billing Price, Adjustment” on each of the activities derived from the tasks. If one or more tasks does not derive an activity, such adjustments will be posted on the activity specified in the job parameter attribute “Activity for Job Revenue Adjustment” in the job parameter of the type “Revenue Recognition.”

The journal created for a job which does not use detailed revenue recognition contains entries to the account for the open billing price and the account “WIP Account, Adjustment” which is specified in the window Job Groups in the Job Cost module and the activity specified in the job parameter attribute “Activity for Job Revenue Adjustment” in the job parameter type “Revenue Recognition.” The posting date for this journal will be the date from the field “Revenue Recognition Date.”

Once the journal has been posted, the field “Current” in the island Revenue Recognized will display the total amount revenue-recognized on the job, as well as the date on which the revenue recognition was made. Any adjustments resulting from the posting of the journal are also displayed in this island.

Note that if you are recognizing revenue by activity, and one or more of the activities registered on the job is non-invoiceable, the budgeted and registered billing price for these activities will be zero. In such situations, the detail levels in which such activities are presented will be ignored by Maconomy and hence not be included in the amount recognized.

If you are recognizing revenue by Task and another dimension which is not Activity, any non-invoiceable activities derived from the tasks in question will not be included in the revenue recognized. However, in such situations Maconomy will automatically replace the derived, non-invoiceable activities with the activity specified in the job parameter attribute “Activity For Revenue Adjustment” in the job parameter Revenue Recognition assigned to the job in question, thus allowing you to include the relevant amounts in the revenue recognized.

If the job is assigned the job parameter attribute “Revenue Recognition at Missing Budget” with the value “No,” and a registration has been made on a certain detail level (for example, activity or task), Maconomy will not include this entry in the resulting revenue adjustment journal, if no budget line assigned to the job contains a specification of a corresponding detail level which is to be included in the fixed price of the job. If the attribute is assigned the value “Yes,” Maconomy will make a revenue adjustment at every detail level, even though no corresponding budget line has been created for the job in question. See the description of the job parameter attribute “Revenue Recognition at Missing Budget” for further information about the functionality of this attribute.

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Actions

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