Reporting On Recognized Revenue

To create a new Revenue Recognition (RevRec) report, navigate to Accounting > Manage Revenue Recognition > Revenue Recognition Report and click the "New" button in the detail section. This will bring up the new report wizard where you can enter the information.

RevRec_Report.png

Setting Up The RevRec Report

The image below is an example of a data entry page for a RevRec report. Here you will define the report's name and reporting behavior. Table 1 below the example describes each field on the screen depicted above. Fill out the information and click Save to submit the new RevRec report.

Terms Defined

Table 1
Field Name Description
Name A unique name for the RevRec report. It will help to be descriptive with the name as much as possible.
Description Detailed description of the RevRec contract.
Report Field

Dynamic table that will allow you to add the reporting summary headers. The object reference model can be used here as long as there is a link from the revenue recognition object (e.g. Activity/Invoice Detail). The general rule here is that if there is a link to the Activity/Invoice Detail object, it will be accessible in this report.

Column Header Description
Field Field of the object that will be included in the summary report. The object reference model can be leveraged here.
Label Label on the summary report of the field.
Group Flag Tick this box if the summary report will be aggregated according to the unique values of this field.
Condition Allows for the selection of a comparison operator to allow the filtering of data.
Value Indicates the value to be used along with the comparison operator to determine what values of the field will be reported.

Execute the RevRec Report

Once the new RevRec report is saved, it will immediately display the report execution section at the bottom of the page. Here, you will have the option to limit the revenue data according to various periods.

Newly saved report with the filters not yet activated.
Saved_RevRec_Report.png

At this point, select one of the period filters to display the revenue data based on the filters and groupings defined earlier. This will then display the relevant summary data that you can then expand to view the revenue details. It will show you when the amount was introduced as deferred revenue as well as when it was recognized.

Report filter

Report_Filters.png

Expanded Report

Expanded_RevRec_Report.png

Related Topics

Revenue Recognition Overview
How To Create A Revenue Recognition Contract

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