Revenue Contracts
Invoicing and revenue are not the same event, and this is where the difference is held. Allocation is a decision; the schedule is its consequence.
Where to find it
- Module: Accounting
- Group: Recognition
- Section: Revenue Recognition
- Screen: Revenue Contracts
Address in the console: /accounting/rev-contracts
List · 12 columns · 19 fields on its form · 3 of them required · 2 actions
What the list shows
These are the columns of the list, in the order they are drawn. Any of them can be sorted on, filtered on, hidden, or exported.
| Column | Kind | Field name |
|---|---|---|
| Contract | Code | contract_no |
| Name | Text | name |
| Customer | Text | account_name |
| Date | Date | contract_date |
| Transaction price | Amount | transaction_price |
| Invoiced | Amount | invoiced_to_date |
| Recognised | Amount | recognised_to_date |
| Deferred | Amount | contract_liability |
| Unbilled | Amount | contract_asset |
| Recognised % | Number | recognised_pct |
| Not allocated | Yes or no | allocation_missing |
| Status | Status | status |
The form
What is asked for when a record is created here. Required fields are marked; a choice drawn from a configuration list is one an administrator can extend without a release.
| Field | Type | Choices | Notes |
|---|---|---|---|
| Name required | Text | ||
| Customer | Choice | Looked up from existing records | |
| Opportunity | Choice | Looked up from existing records | |
| Project | Choice | Looked up from existing records | |
| Contract date required | Date | ||
| Start | Date | ||
| End | Date | ||
| Term (months) | Number | ||
| Currency | Choice | Looked up from existing records | |
| Contract value required | Number | ||
| Variable consideration | Number | Included only to the extent it is highly probable. | |
| Constrained amount | Number | ||
| Expected refunds | Number | ||
| Significant financing component | Yes or no | Money received a year before delivery carries interest, and the standard separates it from revenue. | |
| Financing rate % | Number | ||
| Commission (cost to obtain) | Number | ||
| Fulfilment cost | Number | ||
| Accounting principle | Choice | Looked up from existing records | |
| Notes | Long text |
What you can do here
Allocate primary
Steps 3 and 4: the transaction price split at relative standalone selling price, and the schedule built forward.
Asks for confirmation: Allocate the transaction price and rebuild the recognition schedule?
Modify
A modification is one of three things the standard allows, and they give materially different revenue.
Asks for: Treatment* Additional value Reason*
* required
The rules that apply here
Everything on this screen obeys the platform rules rather than rules of its own. The ones worth knowing before you use it:
- Narrowing a list — search, conditions, sort, totals, export and saved views.
- What may be changed — the five grounds a record may not be edited on.
- Companies and business units — what the switcher above this list is doing to it.
- Creating a record — required fields, where choices come from, and how the number is allocated.
- Importing a spreadsheet — this screen accepts one, and it runs through the same rules as typing.