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.

Warning:

Once this feature is enabled you cannot recognize revenue and cost using Actuals, nor can you discard recognition transactions created by that process. For further information, we recommend you read the following:

• Revenue Management System Overview
• Migrating from Actuals to Recognition Schedules
• Getting Started with Recognition Schedules

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.
• You enable any upgrade features between your original version of Revenue Management and this version.
• If you are migrating from Actuals 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., your recognition to date has been verified and signed off. This is because you cannot discard recognition transactions created by the Actuals process once this feature is enabled.

Enabling the Recognize against Recognition Schedules Feature

To enable this feature:

1. Read feature step 1. If you are happy to proceed, click Mark as Done.
2. For feature step 2, click Perform. When the step has completed, its Status changes from "Not Done" to "Done".
3. 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.