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Post Revenue Hierarchies
If recognised revenue is to be posted to the General Ledger, this hierarchy applies. The revenue updates to the GL as at the end of the current JC period.
If the pro-rata method is Actual or Estimate, then general ledger accounts linked to the Sales Codes of the Activity Codes used in the Cost (for Actual) or Estimate lines are updated:
|
Debit |
Revenue |
Sales Code's Revenue Recognition Account (uses Profit Centre account to fill wildcards) |
|
|
Suspense Account |
|
|
Credit |
Revenue |
Sales Code's Sales Account (uses Profit Centre account to fill wildcards) |
|
|
Suspense Account |
The revenue is alternatively updated to the GL revenue and sales accounts assigned to the job in JC Job Maintenance - Additional if these conditions exist:
- The pro-rata method is Actual, and there are no costs against the job;
- The pro-rata method is Estimate, and there are no estimates set up for the job; or
- The pro-rata method is None - Job defaults (revenue is not spread over the sales codes)
|
Debit |
Revenue |
JC Job's Revenue GL Account (uses Profit Centre account to fill wildcards) |
|
|
Suspense Account |
|
|
Credit |
Revenue |
JC Job's Sales GL Account (uses Profit Centre account to fill wildcards) |
|
|
Suspense Account |
The reversing entries of the above are generated at the same time, dated the beginning of the next JC period.