The documents of this type are available if the Enable the Phased Revenue Recognition Functionality option is selected on the Administration > Settings > General Settings form.

The full functionality is available if the following options are selected:

  • The Enable Items of Work Type in Sales Documents option on the Administration > Settings > Sales form.
  • The Advanced Product Costing option on the Administration > Settings > Production form with components of cost objects selected from Item, Project, Project Task, Customer Order.

A document of this type is used for partial recognition of projected revenues associated with a customer contract, related project or customer order. When specific works are completed and contract's certain obligations are fulfilled and it is acknowledged by the customer, then the entity can recognize the revenue from these completed works according to core principle of IFRS 15. The costs associated with these works are also recognized by this document.


The Phased Revenue Recognitions list

The list of Phased Revenue Recognitions includes all the documents of this type that are available in the system. If you don't see a specific document, filter the list by entity, company, responsible person, or department; rearrange the list by date or document number or use the Search field to locate the document by amount. You can change the list display settings to suit your particular needs. To learn more about the list display settings, see Working with the item list.

Phased Revenue Recognitions can be based on documents of the following types: Customer Order or Project Estimates.

A Phased Revenue Recognition can be used as a basis for documents of the following types (some of the document types are available if the appropriate features are turned on):

  • Invoice: To bill the customer for performed works and incurred costs.

The toolbar buttons

To manually create a new document of the Phased Revenue Recognition type, click the Create button on the toolbar.

To edit an existing document, double-click the line with the document in the Phased Revenue Recognitions list. You can also select the line, right-click it, and select Edit or click More actions > Edit on the toolbar. If you need to print the selected document, send it by email, or perform other operations, refer to List Toolbar.

See also

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