Enabling Revenue Recognition for PSA

This Feature Console page provides an automated way to configure PSA for revenue recognition. When you enable the feature, fields are added to the source objects (Project, Milestone, Expense, Timecard Split, Miscellaneous Adjustment) and recognition settings and templates are created for revenue recognition. Project is assumed to be the primary object, and the other objects are at Level 2 with Project as their parent. See Metadata Changes when Enabling Revenue Recognition for PSA for full details.

Enabling the feature also creates the Revenue Management on PSA permission set which gives access to the fields that are created.

Notes:

This Feature Console feature was re-engineered in Revenue Management Spring 2023. If the feature was enabled in an earlier version of Revenue Management, you cannot enable it again in this version. Regardless of which version of Revenue Management this feature was enabled in, you can use the Update RM-PSA Integration for Schedules feature to update the setup for recognition schedules.

If you are upgrading to this version of Revenue Management and PSA has already been configured manually for revenue recognition, do not enable this feature. If you want to update the setup for recognition schedules, follow the instructions in Additional Setup for Recognition Schedules.

Ensure that you have system administrator permissions before attempting to enable this feature. For more information about prerequisites, see Enabling and Disabling Features.

If you have not previously enabled this feature, work through the steps in the order shown on screen. When a step has completed, its Status changes from "Not Done" to "Done".

  1. For feature step 1, click Perform. This step creates fields, recognition settings and templates, and the Revenue Management on PSA permission set.
  2. For feature steps 2-6, click Perform. These steps update page layouts for the PSA Project, Milestone, Expense, Timecard Split and Miscellaneous Adjustment objects.
  3. For feature step 7, click Perform. This step updates the page layout for the Recognition Transaction Line object.

When you have completed all the steps, use the Status slider in the Feature section to mark the feature as enabled.

Next Steps

  • Open each recognition settings record that has been created and update the Income Statement and Balance Sheet GLA fields to use the correct codes for your business.
  • Assign the Revenue Management on PSA permission set to users needing to view and edit the fields that are created by this feature. The fields are listed in Metadata Changes when Enabling Revenue Recognition for PSA).
  • Ensure that users have the appropriate permissions before they attempt to run revenue recognition or generate recognition schedules. A full list of permission sets is provided in the Revenue Management Technical Pack, available from the Certinia Community.
  • Create recognition years and periods. For more information, see About Recognition Years and Periods.
  • Assign recognition templates to your source records. For example, if you intend to recognize revenue on milestones, you must assign a template to your milestone records.
Note:

This standard integration performs the configuration to recognize revenue against PSA source objects. If you want to: