Generating Recurring Contract Revenue

Generating Recurring Contract Revenue

1. Revenue is generated for Recurring Contracts in batch format from Distribution> Contracts> Processing> Generate Revenue for Recurring Contracts.

2. Similar to the above process outlined for invoices, define a batch name and cut off date.

3. If needed, use the filters for Frequency Code, Bill Customer, or Contract to limit selections for Revenue Recognition.

4. Click Process.

5. Revenue transactions have no printed output like invoices, so transactions created can be reviewed from Accounts Receivable> Reports> GL Interface> Unposted Transactions Detail.  The process of Revenue Recognition removes amounts from the deferred revenue account and places those amounts into the earned revenue account defined, for the respective period / cut off date processed from the screen below.