Run the Revenue Recognition Process
You can use the SM Revenue Recognition form to recognize revenue for agreements and customer work orders.
- amortize unrecognized revenue for agreements and periodic services billed separately. The amortization process will use deferral schedules and billed to-date amounts (less previously recognized amounts) to determine the amounts to recognize for each agreement and/or agreement service that falls on or before the specified 'through date'. For more information about amortizing revenue, see About Revenue Recognition for Agreements
- recognize revenue for agreements and customer work orders that use the 'As Cost Incurred' recognition method. With this method, the system uses work completed lines posted to agreement work orders and customer work orders to determine revenue amounts to recognize. For more information, see About Revenue Recognition for SM Work Orders.
To run the revenue recognition process:
- From the main menu, select .
- In the Through
Date field, enter the date through which to recognize revenue.
Make sure you enter a date that will include the scheduled amounts you want to
recognize. For amortized agreements, make sure you enter a date that will include the scheduled amounts you want to recognize.For agreements and work orders using the 'As Cost Incurred' method, make sure you enter a date that includes all work completed lines posted on or before this date.
- In the Month field, enter the month in which to recognize the revenue. This is the month to which the recognition amounts will be posted.
- Click Process.The SM Batch Process form displays, allowing you validate and post the batch as normal.