Create Revenue Recognition Forecast Period Profile

Explanation

Use this activity to create period profiles which can be used to create revenue recognition forecasts. The purpose of the period profile is to support users to create revenue recognition forecast for projects periodically, quarterly, bi annually or annually.

When defining the profile, user has an option to decide whether to create a period for valid until date of the project or to continue with the period profile irrespective of the valid until date of the project. For example: if the valid until date of the project belongs to accounting period 20XX-04 and accounting calendar is January to December, then if forecast need to be created on quarterly basis, user can decide the last period of the forecast should be 20XX-04 or 20XX-06.

Prerequisites

N/A

System Effects

Creates revenue recognition period profiles will be made available through a List of Values when creating revenue recognition forecasts.

Window

Revenue Recognition Forecast Period Profile

Related Window Descriptions

Revenue Recognition Forecast Period Profile

Procedure

  1. Open the Revenue Recognition Forecast Period Profile window.
  2. Click New (F5) to create a new record.
  3. In the Period Profile ID field, enter the identity of the period profile.
  4. In the Description field, enter the description of the period profile to further explain the period profile.
  5. Select the Default check box to indicate which profile need to defaulted when creating revenue recognition forecast.
  6. Select the Add Period for the Expected Date of Completion check box, if you want to create a period for the valid until date of the project.
  7. In the Period Type field, select the period type to use when creating revenue recognition forecast. Possible values are; Periods, Quarters, Bi Annual, and Years.
  8. In the No of Periods field, enter the number of periods to create for each period type. If a number is not entered, it will be treated as end of the project.

Note: Sequence No field is used to apply the order in which different period types should be applied. By default the order in which period types are entered is suggested as the sequence but it is possible to modify.