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Administrator Guide
Last Updated: 2023-06-23
Create Revenue Allocation Rules

Create Revenue Allocation Rules

Security:
Set Up: Revenue - Allocations
 domain in the Customer Contracts and Project Billing functional areas.
You can create revenue allocation rules that enable you to compare scenarios of your revenue allocations and display them in reports. These scenarios and reports help you comply with the new Revenue Recognition rules.
  1. Access the
    Create Revenue Allocation Rule
     task.
  2. As you complete this task, consider:
    Option Description
    Allocation Basis
    You can define how revenue is allocated according to your
    Fair Value Price List
    .
    Depending on which option you select, Workday will automatically allocate the revenue according to the percentages you define.
    The lower and upper ranges are calculated based off of the
    Lower Range Percentage
     and the
    Upper Range Percentage
     percentages and the
    Fair Value Price List
    .
    Fair Value Price List
    You can select a
    Fair Value Price List
     to define the standard selling price for an item.
    You can define
    Fair Value Price Lists
     in Workday using the
    Maintain Fair Value Price List
     report.
    Do Not Auto-Allocate Revenue
    Select this check box if you don't want Workday to calculate revenue override amounts for all contract lines.
    You’ll be able to calculate the
    Revenue Override Amount
     by selecting
    Run Allocation
     process on the
    Run Multiple-Element Revenue Allocation
     task.
  3. (Optional) Create an
    Override Revenue Allocation Rule
     for each company that requires a separate revenue allocation rule.
The rules that you create populate revenue allocation information for your companies.
  • Create customer contract sets.
  • Create revenue allocation scenarios.