Percentage of Revenue Recognized is not Equal to the Project Progress

Revenue Arrangement is associated with a Project and uses Percent Complete revenue recognition rule. Percent Complete Override in the Project record was also set to 28%, however in the associated Revenue Recognition in the related revenue arrangement is already 71%.

Solution

Customer may want to check when was the actual date the revenue recognition journal entries were generated versus when was the Percent Complete Override percentage in the Project record was populated for the period.

If the generation of the revenue recognition journal entries was done before the Percent Complete Override value for the period is populated, the system will use the actual completion rate of the project/ task.

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