Tuesday, September 11, 2018

Add Invoice Number to Revenue Recognition Entries for Revenue by State Report


1. Create Revenue Recognition Template (List>Accounting>Revenue Recognition Template) - Add a link to Creating Revenue Recognition Templates
2. Go to Lists>Accounting>Items
3. Click Edit next to the Item that you would like to assign Deferred Revenue (e.g. Rose)
4. On Basic Tab - Deferred Revenue Account field - select your Deferred Revenue Account
5. Click Save
6. Create Sales Order - Go to Transactions>Sales>Enter Sales Orders
7. Select the Item on the Items subtab
8. On Rev Rec Schedule column - select the Revenue Recognition Template
9. Fill in Rev Rec Start Date and Rev Rec End Date
10.Click Save
11.Click Approve>Click Fulfill>Check the Information>Click Save
12.Click Bill button
13.On Invoice page>Click Save.
14.Create Journal Entries for Revenue Recognition - Go to Transactions>Financial>Create Revenue Journal Entries
15.Select the posting period, you may opt to filter by customer - In Customer field - select the customer
16.Fill in other information
17.Check Select box next to the Invoice#
18.Click Create Journal Entries button
19.Click Journal# link
20.On Journal Pending Approval Created from Revenue Recognition Schedule page - Click Approve button
21.Go to Reports>Revenue>Revenue by State
22.Click Customize button
23.On Add Fields - Click Transaction Dimension > Click Transaction Number
24.Click Preview
25.On Footer - change From and To field (depending to your desired filter) - e.g. From - Sep 2008 To - Sep 2008

Result: Original Invoice Number showed up and when you clicked on the Amount (to view detail report) - Journal Entries Transaction Number showed up (these information relate only to recognized revenue)

NOTE: If you had followed Step Nos. 1 - 13 and immediately proceed to Step No. 21 (skipping Step Nos. 14 to 20) - you will not be able to see the original invoice number on this report. Original Invoice Number only appears when revenue has been recognized. For Deferred Revenue - you may use Deferred Revenue by State Report (Reports>Revenue>Deferred Revenue by State)

Above information is also true with Revenue by Item and Revenue by Customer.




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