Revenue Recognition and Forecasting

When should Revenue Recognition be run?

Monthly, once all Timecards are submitted and approved

What needs to be setup before Revenue Recognition is run?

Recognition Years and Periods

These MUST coincide with PSA Time Periods

What is the primary grouping to use for Revenue Recognition?

Company

True/False - Revenue Recognition can be run as often as needed?

True - This is fine so long as you don’t commit the transactions

When can Transactions be discarded?

When a Journal hasn’t been created.

Discuss how Revenue Forecasting handles Exchange Rates.

Rev Forecasting calculations use the date that was active on a record’s actual date e.g. TCs and Expenses.

For (un)scheduled revenue today’s date is used. If there is no exchange rate for an historical actual date, the record is omitted from the forecast.

When viewing Revenue Forecast Versions, which currency is the revenue displayed in?

The Corporate Currency.

This is so that it is easier to compare the different versions at a glance. You can toggle ‘Show Local Currency’ to show the unconverted amount.

How does Revenue Forecasting handle rounding?

If the amount that is recognised exceeds the number of decimal places of the currency, the amount is rounded (up or down).

If this happens then the left over revenue is added to next months figure.

What 3 types of Recognition Method are there?

1. Deliverable

2. Equal Split

3. % Complete

Which recognition method relates to Projects and Opps containing records that are recognised on delivery?

Deliverable Method

e.g. T&M Projects or Fixed Projects with Deliverable Milestones

What types of records are included in Revenue Forecast Calculations?

• EvAs

• Expense

• Milestone

• Misc Adj

• Timecards

• Resource Request

How should you configure the page layout to allow Revenue Forecasting for Opps and Projects?

Fields

Opportunity

• Is Services Opp

• Expected Start/End Date

Project

• IIF

• Recognition Method (If not using Rev Mgmt)

• Rev Forecast Last Updates

Both

Related Lists:

• Revenue Forecast

• Revenue Forecast Types

Buttons:

• Run Revenue Forecast

What must be ticked on a previous Time Period for Forecasting to be run?

Closed for Forecasting = TRUE

What is Best Practice when mapping the fields Expected Start/End Date for Opp?

Create new custom fields

For Revenue Forecasting what happens if the Expected Start/End Date isn’t specified on the Opportunity?

The month of the Opp close date is used.

What Time Period is used in Revenue Forecasting?

Monthly

For this Timecards must have the Config Option: TC_Split_Time_Period_Type = Month

And EvAs must have the Custom Setting: Generate Monthly Records = TRUE

NOTE: In the Accelerate build the above are the default values

What are the three Forecasting categories?

1. Service Known

2. Unscheduled Backlog

3. Pipeline

How can the following objects be leveraged to be used in Forecasting:

• Opportunity?

• Project/RPGs

• Opp

  • IsServicesOpp = True

  • not closed lost

  • no active Project

• Project/RPG

  • IIF = True

  • Active

  • Start + End Date