Schedule Revenue Recognition for Awards

Configure the Revenue Recognition Schedule Event
business process and security policy in the Financials: Revenue and Customers: Revenue functional areas.

Define an award for 1 or more companies.

Define an award schedule.

Security: Process: Revenue
domain in Customer Contracts functional area.

Create or update a revenue recognition schedule for an award. This enables you to schedule revenue recognition independent of billing.

You can define schedules only for fixed amount award lines that have the deferred revenue check box selected. If needed, you can tie revenue recognition to date milestones.

For multicompany awards, create a revenue recognition schedule for each award line company. Workday limits revenue recognition schedules to the award lines per company.

Access the

Create Revenue Recognition Schedule for Award

task.

Select the

Company

with the award that you want to create the revenue recognition schedule for.

(Optional) For multicompany awards, enter an intercompany for

Line Company

associated with an award line.

Workday displays award lines by only that company for selection.

As you complete the

Revenue Recognition Information

, consider:

Option	Description
Milestone	Date milestones for the entire revenue recognition schedule. Milestones must be completed for revenue recognition to occur on any installments.

As you complete the

Generate Installment Information

, consider:

Option	Description
Revenue Recognition Method	Custom - Select to build your schedule using custom installment amounts . Defined Installment - Select to build your schedule using specific regular, first, and last installment amounts. Number of Days - Select to build your schedule using intervals of a specific number of days. Spread Even - Select to build your schedule by spreading the award amount evenly across the installments.

Select the award lines to add to the revenue recognition schedule.

Available award lines have the deferred revenue check box selected.

As you complete the draft revenue recognition schedule information, consider:

Option	Description
Manage Lines	Manage award lines using the revenue recognition schedule. The lines can span multiple awards.
Manage Milestones	Date milestones for the revenue installment. Milestones must be completed for revenue recognition for the installment to occur.
Generate Installments	For Defined Installment billing, click to generate the installment revenue recognition schedule using the specific installment amounts you entered in Define Installment Amounts . For Spread Even installment revenue recognition, click to spread the installment payments evenly according to the frequency, number of installments, and from date.
Customize Installments	Change generated installment amounts to adjust the Revenue Recognition Method to Custom .

Workday initiates the

Revenue Recognition Schedule Event

business process for review and approval of the award revenue recognition schedule.

Create revenue recognition accounting using the Generate Accounting for Revenue Recognition Installments task.