Recognize against Recognition Schedules

This Feature Console page performs setup to allow you to recognize revenue and cost against recognition schedules. If you intend recognizing against recognition schedules, you must enable this feature regardless of whether you are setting up Revenue Management for the first time or upgrading from an older version.

Before You Begin

Before you enable this feature, ensure that:

  • You have configured Revenue Management as detailed in Setting up Revenue Management.
  • You have completed the setup described in Additional Setup for Recognition Schedules, and are familiar with generating recognition schedules.
  • If you are upgrading from a version earlier than Summer 2022, you have enabled the Upgrade to Summer 2022 feature. See Upgrade to Summer 2022. You must also enable any other upgrade features between your original version of Revenue Management and the version you are upgrading to.

Enabling the Recognize against Recognition Schedules Feature

To enable this feature:

  1. It is important that you read the points listed in feature step 1:
    • Not all use cases are supported. See the Help for details of what is currently supported.
    • [Upgrading Customers Only] The Upgrade to Summer 2022 feature and steps must be enabled before this feature is enabled.
    • While the feature step "Enable revenue recognition against recognition schedules" is enabled you can only recognize revenue and cost against recognition schedules. If you want to recognize revenue and cost against source records, you must discard any transactions created by this process before disabling the feature step. See step 3 for more information.
    • Any Recognition Transactions with the status "In Progress" must be committed or deleted before enabling this feature.
  2. After reading the points listed in feature step 1, click Mark as Done if you are happy to proceed.
  3. For feature step 2, click Perform. When the step has completed, its Status changes from "Not Done" to "Done". While this feature step is enabled you can only recognize revenue and cost against recognition schedules. See How Do I Disable Recognizing against Recognition Schedules? if you want to revert to recognizing revenue and cost against source records.
  4. For feature step 3, click Perform to set the Global Opening Balance Cutoff Date to today. This date is used by default if source records do not specify their own cutoff date. You can change it by editing the Global Opening Balance Cutoff Date field in the Revenue Management Settings custom setting.

Now complete the next steps described below.

Next Steps

  • Assign the Run Recognition Schedule Recognize Process custom permission to users who will be recognizing revenue and cost against recognition schedules. This grants users permission to run the recognize process against recognition schedule lines they have access to.
  • [Optional] Remove access to the Recognize Revenue and Forecast Revenue tabs so that users do not try to use them by mistake.
  • [Optional] Set up the Generate Recognition Schedules scheduled job to generate recognition schedules regularly. For more information, see Scheduling Revenue Management Processes to Run Automatically. For information about automating your recognition schedule processes end-to-end, see End-to-End Automation of Recognition Schedule Processes.