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Administrator Guide
Last Updated: 2023-06-23
Create Revenue Recognition Schedules for Customer Invoices

Create Revenue Recognition Schedules for Customer Invoices

  • Create a customer invoice with 1 or more lines enabled for deferred revenue.
  • Security:
    • Process: Customer Invoice - Core
       domain in the Customer Accounts functional area.
    • Process: Revenue Schedule - Core
       domain in the Customer Contracts and Project Billing functional areas.
You can create a revenue recognition schedule for 1 or more invoice lines:
  • From a single invoice not linked to a contract.
  • With deferred revenue.
  • With the same revenue recognition method and end date.
Workday doesn't populate the revenue recognition schedule with intercompany worktags. The intercompany worktags display when you create revenue recognition accounting.
  1. Access the
    Create Revenue Recognition Schedule for Customer Invoice
     task.
  2. For intercompany invoices, select an
    Invoice Line Company
    .
  3. As you complete the
    Revenue Recognition Information
     section, consider:
    Option Description
    Schedule Type
    To improve reporting capabilities, select a schedule type for revenue recognition.
    Milestone
    Select milestones for the entire revenue recognition schedule. Milestones must be complete for revenue recognition to occur on the installment.
  4. Select the lines to add to the revenue recognition schedule.
  5. Click
    Save and Continue
     to view the draft of the revenue recognition schedule.
  6. As you complete the revenue recognition schedule, consider:
    Option Description
    Manage Lines
    Click to add or delete lines that use the revenue recognition schedule.
    Define Installment Amounts
    Click to enter
    Regular
    ,
    First
    , and
    Last
     installment amounts for each invoice line.
    Use when you specify a
    Revenue Recognition Method
     of
    Defined Installment
    .
    Generate Installments
    Click to generate installments using the
    Revenue Recognition Method
     you selected.
    Customize Installments
    When you customize installments and save your changes, Workday automatically updates the
    Revenue Recognition Method
     to
    Custom
    .
  7. (Optional) To add supporting documentation, select
    Revenue Recognition Schedule
    Manage Attachments
     from the related actions menu of the revenue recognition schedule.
Workday routes the revenue recognition schedule to the
Revenue Recognition Schedule Event
 business process for review and approval. The customer invoice line references the revenue recognition schedule.
Create revenue recognition accounting.