This step should be run after each time you create revenue recognition journal entries. If you run these processes out of the order for some reason, you can go back and run Create Revenue Recognition Journal Entries and then rerun Create Deferred Revenue Reclassification Journal Entries. The reclassification is cumulative.
• As part of Period End process, you must create deferred revenue reclassification journal entries each month to assure accurate results in subsequent periods. • Revenue arrangements are included in the reclassification process only if they are approved and the Compliant flag is checked.
Steps
1) Navigate to Revenue > Revenue Recognition Journal Entries > Schedule Reclassification Journal Entries > Run Now.
2) Select a Posting Period from the filter. The list is filtered to show only entries that are due to post during the period you have chosen.
3) Review the Journal Entry Date and adjust as needed.
4) Select a Subsidiary to limit the list of revenue recognition schedules or plans displayed for this period.
5) Filter the list of revenue recognition plans by: a. Transaction Type a. Customer: Project
6) Click [Create Journal Entries]. Quick Reference Guide 31 Note: If the Start Date of a plan is in a closed period, the amount that would have been reclassified in that period is posted to the first open period.
7) Click [Refresh] to update the status.
8) Click link in the Message column to view any errors.
9) Click Complete in the Submission Status column to open the Processed Reclassification Journal Entries page.