Revenue is at the heart of all business processes. The collecting of data from many sources is made easier by automated revenue recognition, smoothly. This makes it easier to manage revenue contracts Using automation, you can free up time and resources, allowing you to focus on other tasks and operations.
The Objective of this Blog is to elaborate a mechanism to upload the amount of revenue to be recognized for each sales order line item based on predefined calculations. This blog starts by providing a brief understanding of Revenue Recognition Automation. To accomplish this, previously we have to manually enter the revenue to be recognized at the sales order item level per month. This process is time consuming and error prone. In this blog we will show you how revenue is recognized in an automated process and enhancements that have been introduced.
Process Involves:
- Create Sales Order
- Create Project
- Run Revenue Recognition Automation
Enhancements For Revenue Recognition Automation:
For this purpose, we have created a Process Flow for Revenue Recognition.
Custom Work Center:
A Custom Work Center have been created with two Views
- Generate Revenue List
- Post Revenue
Process Flow For Sales Order and Project:
Create Sales Order with Project and Note Down the Project and Sales Order ID
Navigate Sales Order Work Center > New > Sales Order
Process Flow To Generate Revenue List:
Navigate To Revenue Recognition Automation Work Center > Click on Generate Revenue List > Click on List Data > Then Click on Generate Data.
Process Flow For Post Revenue:
Navigate the Revenue Recognition Automation Work Center > Click on Revenue Recognition Automation > Click on Mark for Posting > Then Click on Posted
I hope it would be helpful for those who want to understand the basic process of ‘Revenue recognition Automation’ in SAP Business ByDesign.
Do follow and Stay connected through your valuables comments and thoughts in comment section.
https://blogs.sap.com/2018/06/08/understanding-revenue-recognition-over-time-an-explanatory-example/
https://blogs.sap.com/2022/11/02/revenue-recognition-for-sale-order-based-on-accrual-method-part-1/
