Setting Opening Balances

Warning:

This topic describes functionality relating to recognizing revenue or cost against source records (sometimes known as Actuals Closed Refers to the original revenue recognition process where staging data is generated for source records. The Recognize Revenue page and Recognize All use this process.). If you are recognizing revenue or cost against recognition schedules, see Opening Balances for Recognition Schedules.

If you need to migrate data into Revenue Management, you can transfer opening balances by setting a source record's Revenue Recognized to Date Value to the opening balance amount. You must do this before any recognition transactions are created for recognizing revenue on the source record.

Similarly, you can set the source record's Cost Recognized to Date Value to an opening balance for cost. You must do this before any recognition transactions are created for recognizing cost on the source record.

The following steps explain how opening balances are handled:

When you run recognition for the first time after setting opening balances, the opening balance amount is displayed in the Previously Recognized columns for revenue and cost on the Recognize Revenue page.
If there are amounts to recognize for the current period, these are displayed as usual in the Recognize This Period columns.
When you create the recognition transaction, the opening balance amounts are recorded separately in the Revenue Opening Balance and Cost Opening Balance fields on transaction lines so that they are not double-counted.
If amounts have been recognized for the current period, these are recorded as usual in the Revenue Recognized and Cost Recognized fields.
When the recognition transaction is committed, the Revenue Recognized To Date Value on the source record is updated to show the sum of the Revenue Opening Balance + Revenue Recognized. For cost, the Cost Recognized To Date Value on the source record is updated to show the sum of the Cost Opening Balance + Cost Recognized.

Amounts recognized in future revenue recognition processes are added in the usual way to the source record's Recognized To Date Values.

Notes:

At step 3, if no amount is recognized for the current period, the updated Recognized To Date Values on the source record is the same as the opening balance amount. Recognition transactions with only opening balance values are not included in recognition transaction summaries.

If the Actual vs Forecast functionality is enabled on your org, recognized opening balance values are included in Actual vs Forecast calculations.

Once the Revenue Opening Balance field or Cost Opening Balance field is populated on a recognition transaction line, an opening balance cannot be reset for that source record. For example, if a future transaction balances out the first transaction and the source record's Recognized to Date Value is null, entering a value in that field again does not result in the opening balance being reset.

Opening balances are included in previously recognized amounts if you run the Transfer Previously Recognized process to transfer previously committed values to performance obligations.

Home and Dual Opening Balance Fields

The following fields on the Recognition Transaction Line custom object are not added to the object's page layout by default. If you want to include them on the page layout, add them manually.