Checklist: Running Revenue Generation

Usually, you run Revenue Generation immediately before you generate the financial reports for that accounting period.

You can also run Revenue Generation any time during the accounting period to recalculate revenue from data added by transactions and project steps that occur during the accounting period.

If you discover incorrect revenue in a project or a pattern of incorrect revenue in a group of projects, post the RevGen file, change the method or data for the projects, and rerun Revenue Generation for the projects.

Complete the steps in the following checklist to run Revenue Generation.

Step	Description
1	Make sure that you entered all the project data that is necessary to calculate revenue. This includes any overall revenue upset limit settings for a project.
2	Run Overhead Allocation for projects whose user-defined revenue method has Total Cost or Overhead in the calculation.
3	Update percent complete amounts. To update percent complete amounts in cost or billing budgets, open the Revenue Generation form, then select the appropriate projects and update their percent complete amounts.
4	Open the Revenue Generation form. Select the options that you want. Select the projects whose revenue to generate in this Revenue Generation processing run.
5	You can run Revenue Generation immediately, or send the job to the Vision Process Server. Click Run to run Revenue Generation immediately from your workstation. Click Submit to send the Revenue Generation processing job to Vision's Process Server. Revenue Generation calculates: Job-to-date revenue for each project (using the project's revenue method). Current period revenue for each project. A project's prior job-to-date revenue is subtracted from the new job-to-date revenue. After Revenue Generation completes its process, you have: The Revenue Generation Transaction List. It shows the amount of new job-to-date revenue for each project. As an alternative, if you selected the Post revenue as it is generated option on the Revenue Generation Form, Vision generates the Revenue Generation Posting Log. The RevGen file.
6	Review the data on the Transaction List to make sure that the amount of new revenue for each project is the amount that you expected. If you find errors, or amounts that do not agree, find the cause and correct the project data. Then re-run Revenue Generation for the applicable projects. Review the data on the new Transaction List.
7	Post the RevGen file.
8	Review the Posting Log. It shows the new amount of revenue that was posted to each project. Generate the Office Earnings Report for the projects, and examine each project's revenue data.
9	Print financial statements and reports.
10	Prove out a revenue method.