The New Cost Object column is available if the Advanced Product Costing option is selected on the Administration > Settings > Production form. Specify or create a cost object to which the transferred items are intended at their new place.
The Contract Assets tab is available once the Contract Assets option is selected on the Main tab.
Using this tab, you can enter the beginning balances of revenues recognized for contracts for which work is still in progress.
The Opening Balances Entering document. The Contract Assets tab
You can import the list of beginning balance form an Excel spreadsheet or add balances one-by-one manually. To import the data, click the 
button on the toolbar.
To add balances manually, click Add to add a new balance of work in progress.
In the Company column, select the company that ordered the works.
In the Item column, specify the work item ordered by the company.
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 of the work item if the Use Characteristics option is selected for the item in its master record (see Items).
Use the Quantity column to enter the quantity of the work item in the unit of measure that is specified in the UOM column.
In the Amount (Curr.) column, enter the opening balance in the contract currency.
The Currency column is populated with the contract currency.
In the Amount (Acct. Curr.) column, enter the opening balance in the accounting currency.
In the Department column, specify the department related to the work in progress.
Click in the Cost Object column to open the list of Cost Objects and select the particular cost object associated with the beginning balance. Cost object can be a project, a specific project task within a project, a customer order in which a customer requests specific product, or a specific internal item being constructed or produced by the entity for a potential customer. You can create new cost objects on the fly. For this, click in the Cost Object column and then click +(Add) in the drop-down list, which is most likely does not contain any object yet. In the Cost Object (create) form that opens, define the cost object.
In the Description field, cost object description appears as a string of appended attributes.
The Cost Object (create) dialog box
Once you specify all attributes of the cost object, click Save and close to save the cost object and close the dialog box.
In the Cost Element column, specify a cost element which you can select from the Employees, Fixed Assets, and Items lists.
Use the Project column to select the project associated with the contract asset.
You can link this balance with a project from the Projects list if the Project Costing functionality is turned on on the Administration > Settings > Project Costing form.
If the Enable Project Tasks option is selected on the Administration > Settings > Project Costing form, the Project Task column can be used to link the balance to a particular task.
The Document column, which is empty by default, on saving this document will show the reference number and date of the generated Phased Revenue Recognition document. In case the data is imported, the column will contain the attributes of actual document.
In the Customer Order column, you can specify the customer order which is the base for this balance.
In the GL Account column, make sure that the correct income account appears for recording the amount of already recognized revenue.
Use the Transaction Content column to enter the description for the journal entries.
7.5.7. Phased Revenue Recognitions
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.
Documents of this type are used for recognition of the projected revenues based on the related costs. For more information on the phased revenue recognition, refer to Overview of the Phased Revenue Recognition functionality.
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:
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 expenditures.
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.