You can use the Revenue and Costs tab to list the items for which revenue is being recognized. For comprehensive information on the functionality, refer to Overview of the Phased Revenue Recognition Functionality.
Note. The amounts shown without currency indication are in the contract currency.
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- Services: Only items of Work and Service types can be listed here. Clicking the Fill button, you can populate the Work Costs table (which is lower on the form) with costs of the listed works.
- Work Costs: The costs of works that are listed in the Services tab. You can clear the check box for the Show Work Costs for the Selected Row option at the form bottom to view all the costs at once. By default, the Show Work Costs for the Selected Row option is selected, and only costs related to the work selected in the upper pane are listed.
The "Phased Revenue Recognition (create)" form. The Revenues and Costs tab
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To add an item, click the Add button. In the Item column, select a specific work performed or being performed for the project, or contract, or company from the Items list or create a new item.
The Characteristic column is available if the Enable Item Characteristics option is selected on the Administration > Settings > Purchasing and Warehouses form. In this column, you can specify additional properties (such as size, color, and so forth) of each listed item if the Use Characteristics option is selected for the item in its master record (see Items).
In the Quantity column, you can specify the item quantity, and in the UOM column, you can select an UOM for the item if the Multiple UOMs per Item option is selected on the Administration > Settings > Purchasing and Warehouses form.
The Price column is populated automatically from the price designated in Project Estimates or in the Customer Order. You can enter the prices manually if you have appropriate access rights.
Note. Even if for the entity the Create GL Entries for Trade Discounts option is selected in its master record, journal entries will not use separate GL accounts to post amounts of different discounts.
При включенной опции "Create GL Entries for Trade Discounts" в карточке Entity, документ Поэтапное признание не разделяет записи БУ по счетам скидок TradeDiscountsGLAccount, работает аналогично схеме как в документе InventoryExpense с выключеной опцией.
The Discount,% and Discount (or Discounted Price) columns are available if the Enable Discounts and Markups in Sales Documents option is selected on the Administration > Settings > Sales form. Use these columns to specify the manual discount granted to the customer. The default discount can be set in the customer contract.
The Auto-Discount % and Auto-Discount columns are available if the Enable Automatic Discounts and Markups option is selected on the Administration > Settings > Sales form. Non-zero values in these columns indicate that one or more discounts are applied because their conditions are met in the document. If you change any line in the document, click the Auto button to recalculate the automatic discounts. For more information on discounts, refer to Overview of Trade Discounts.
| Note. You can view information on manual and automatic discounts applied to a specific line. For this, double-click in the Auto-Discount % or Auto-Discount column to open the Applied Discounts (Markups) for the Row dialog box (refer to the Applied Discounts (Markups) for the Row section below). In this dialog box, you can view the amount of manual and automatic discounts applied to the line and which of the available auto-discounts were applied and which were not. |
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Note. All materials and inventory items must be transferred to the department (that executes the project) with the corresponding Cost Object before you can recognize the corresponding revenue based on the costs incurred.
The Work Costs
The Work Costs pane includes the following two tabs:
- WIP: Shows the current costs associated with the selected work item or all items in the upper pane. The costs may be filtered as marked by Cost Object or not marked. To populate the table, click Fill and select one of its options or click the Pick Work Costs button on the pane toolbar.
- Costs Recognized for Previous Phases: to bring up this tab, click Fill > Already Recognized Revenue and Costs on the upper pane toolbar. The tab shows the results of the previous phases of recognition.
The WIP tab
The Department column shows the department related to the cost.
The Cost Object column shows the cost object for the cost incurred.
The Cost Element column shows the object to which the costs are being recognized are related. When creating the project cost estimates, you can choose from the following levels of details (analytics parameters): Departments, Business Activities, Cost Elements (such as labor cost associated with a particular employee, material costs as cost of items, such as materials, stock items, or services, and Fixed Assets if you use special equipment or vehicles).
The Characteristic column indicates the characteristic of the item if characteristics are used for this item.
The Batch column indicates the batch if batches are used for the item.
The Quantity column shows the quantity of the item.
The Unit Cost column shows the cost per UOM of the item.
The Amount (Accounting Curr.) column shows the cost amount calculated in the accounting currency.
The Amount (Curr.) column shows the cost amount calculated in the currency of the document.
In the GL Accounts column, you can view the Work in Progress account to be updated by this transaction.
By default, in the Transaction Content column, a description that is used for journal entries appears.
The Costs Recognized for Previous Phases tab
The tab shows the results of the previous phases of recognition (appears if you click Fill > Already Recognized Revenue and Costs on the upper pane toolbar).
The Phased Revenue Recognition (create) form. The Revenues and Costs tab. The Costs Recognized for Previous Phases subtab
The Project Task column shows the task to which the cost is related.
The Item column shows the Work item to which the cost is related.
The Characteristic column shows the characteristic of the work item to which the cost is related.
The Cost Object column shows the cost object to which the cost is related.
The Expense item column shows the expense item to which the cost is related.
The Cost Element column the item, or employee, or fixed asset to which the cost is related.
The Cost Element Characteristic column shows (if applicable) the specific characteristic of the item selected as cost element.
The Cost Element Batch column shows (if applicable) the batch number of the item selected as cost element.
The Quantity column shows the quantity if the item to which the cost is related.
The Unit Cost column shows the cost per unit associated with the cost object.
The Amount (Acct. Curr.) column shows the task to which the cost is related.
The Amount (Curr.) column shows the task to which the cost is related.
The Work Costs pane toolbar buttons
Use the Up and Down ( 
) buttons to rearrange the items in the list.
Use the Pick Work Costs button to open the list of related costs and manually select particular costs for recognition.