SECTIONSSummarized RT to Journal Integration Overview
The Summarized RT to Journal Integration is an integration between Revenue Management and Accounting. It allows you to create Accounting journals from summarized recognition transactions which results in fewer lines on your journals.
To set up this integration you must first set up the RT to Journal Integrations, then you must enable the Summarized RT to Journal Integration feature in Feature Console.
After completing the setup, you can create journals from a recognition transaction's detail page and from the list view. You can only create journals for recognition transactions that have the status "Committed" and have been summarized. The journals are created with the status "In Progress" and have a type of either “Revenue Recognition“ or ”Cost Amortization”. Separate journals are created for revenue and cost amounts. If a recognition transaction has summaries with both revenue and cost amounts, separate revenue and cost journals are created from it.
When journals are created from summarized recognition transactions, information is passed between Revenue Management and Accounting via Foundations. For information about which details are passed between these applications, view the publications and subscriptions for the Journal.Create message type on the Message Types tab of the Foundations Administration application. If you have custom fields on your recognition transaction summaries and you want to map their values to journal lines, add them to the CreateJournalFromSummarizedRRT publication for revenue journals, and to the CreateJournalFromSummarizedCostRRT publication for cost journals.
Each recognition transaction and its recognition transaction summaries are linked to the resulting journals and journal line items by lookup fields. The recognition transaction has lookups to the revenue and cost journals that have been created, and each recognition transaction summary has lookups to the corresponding revenue and cost journal line items. Similarly, the journal and journal line items have lookups to their corresponding recognition transaction and recognition transaction summaries. The Journal Status and Journal Date are also recorded on the recognition transaction.
Recognition Transactions Must Be Grouped by Company
In the FFA subscription to the Journal.Create message type, the mappings for Journal Currency and Period are resolved in relation to Company. Therefore it is imperative that recognition transactions are grouped by a field that identifies a source record's company.
- If you intend creating recognition transactions using the Recognize Schedules process, or the True-Up process, the recognition settings records for your source objects must have Company mapped to a field that identifies a source record's company.
- If you intend creating recognition transactions using Recognize All, the recognition settings records for your primary source objects must have Grouped By mapped to a field that identifies a source record's company.
- If you intend creating recognition transactions from the Recognize Revenue page, the RM Grouped Transactions feature in Feature Console must be enabled, and you must group your source data on the Recognize Revenue page by a field that identifies a source record's company.
The process to create journals will fail if the correct company cannot be identified on recognition transactions.