Deferred Revenue Posting
Deferred Revenue Posting creates a general ledger register to post revenue from the deferred revenue account to the revenue account for all agreements with deferred revenue. Users activate this feature by selecting Deferred Revenues on the Agreements menu. Monthly processing of deferred revenue is recommended.
This feature automates the process of creating journal entries for deferred revenue recognition for Agreements that are billed by "Summary" or “Detail". A journal entry is automatically created debiting the Deferred Revenue account and crediting the Job Revenue account identified in Job Type Maintenance for the job type specified on each service agreement. The amounts posted are specified on the agreement schedule or on the equipment schedule, for agreements billed by “Summary” or “Detail”, respectively.
- Cut-off Date: Enter the last day of the month for which the posting file is being run. Click "All" to run report of all deferred revenues that need to be posted without filtering. Click "Selected" to filter deferred revenues within a specific range.
- From: Select the starting point of the range by specifying a specific "Agreement Type" or "Agreement Number" to include results from.
- To: Select the ending point of the range by specifying a specific "Agreement Type" or "Agreement Number" to stop including results from.
- Order of Output: The order in which output records are printed. There are five choices - Agreement # (Agreement Number), Agreement Type, Customer # (Customer Number), Start Date, and Anniversary Date.
- G/L Posting: Select “Summary” or “Detail.”
Once the report has been run, the user will click Process to update the information on the report to the General Ledger.