Revenue Recognition end date

Revenue Recognition Enhancement

As part of this enhancement, Revenue will be calculated until the specified date in the recognize date field. Approved time will be considered till the recognized date to calculate revenue.

Recognize date defaults on the last day of the current month when a new recognized revenue record is created. Users can modify the recognized date based on requirements.

To access this functionality, navigate to:

Projects > Revenue Recognise > Select the line

New menu button ‘Update effort completed’ is introduced which updates the ‘Effort completed’ based on the Recognise date including the Approved project time entries.

Effort Completion and Revenue Calculation

There are two fields available which display the effort completed:

• Effort completed till date: Indicates the total approved time till date.
• Effort completed by end date: Indicates total approved time till the ‘Recognise date’.

Revenue will be calculated based on ‘Effort completed by end date’.