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Recognizing Revenue for Accounts Receivable Invoices

Recognizing Revenue for Accounts Receivable Invoices

Concept

The Revenue Recognition program (P03B116) enables you to recognize revenue and cost of goods sold (COGS) for an individual invoice or multiple invoices that have been sent to the revenue recognition process.

 

You can recognize revenue and COGS on both domestic and foreign invoices. You can recognize revenue for invoices that originate from the Accounts Receivable, Sales Order Management, or Contract and Service Billing systems. Additionally, you can recognize the COGS for a sales order invoice that originates from the Sales Order Management system.

 

The system stores revenue recognition information in the Revenue Recognition Invoice table (F03B116) and the Revenue Recognition G/L Information table (F03B117).

Procedure

In this task, you will recognize all revenue for an accounts receivable invoice.

Step Action
Navigate to the Revenue Recognition  program (P03B116) on the Revenue Recognition Processing menu (G03B18).

Click the Revenue Recognition Processing menu.

Click the Revenue Recognition menu.

Use Work with Invoice Revenue Recognition the form to work with invoices in the revenue recognition process.

Step Action
Click in the Company field.

Enter the desired information into the Company field. Enter “1“.

Click in the Customer field.

Enter the desired information into the Customer field. Enter “960545“.

Use the Posted check box to specify whether the system displays only posted invoice pay items or all invoice pay items. Only posted invoice pay items are eligible for revenue recognition.
Use the All, Recognized, and Not Recognized options to specify whether the system displays all invoice pay items, only invoice pay items that are recognized, or only invoice pay items that are not recognized.
Click the Find button.

Click the 960545 option.

Click the Select button.

Use the Recognize Revenue form to recognize all revenue for an invoice.
To recognize all revenue:

In the header, enter a value in the Revenue Amount field that is equal to the value in the Remaining Amount field.

In the grid, enter the same value in the Recognized Revenue Amount field.

Step Action
Click in the Revenue Amount field.

Enter the desired information into the Revenue Amount field. Enter “100“.

Click in the Recognized Revenue Amount field.

Enter the desired information into the Recognized Revenue Amount field. Enter “100“.
Click in the Amount Not Recognized field.

The value in the Remaining Amount field in the header and the grid is zero.
Click the OK button.

Step Action
Click the Find button.

The system has updated the value in the Revenue Recognition Status field to Recognition Complete.
Click the Close button.

You have successfully recognized all revenue for an accounts receivable invoice.

End of Procedure.

Ayman Refat
Over 20 years of experience in IT area, working as Oracle JD Edwards Developer with expertise in Windows Server, SQL Server and Microsoft Exchange Server, experience in Linux operating systems (Debian and Redhat), VMWare ESX / ESXi, Novell Netware, relational databases like Oracle 10/11g and backup solutions from Computer Associates. Large experience in high-end servers from Dell and HP, having the following certifications: Microsoft: MCP, MCSE, MCDBA, MCSA and MCT (2008 ~ 2013), Computer Associates: Technical Specialist – Storage and Backup Solutions,
http://www.AymanRefat.com

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