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Administrator Guide
Last Updated: 2023-06-23
Create Revenue Installments for Billable Transactions

Create Revenue Installments for Billable Transactions

  • Approve billable transactions.
  • Security:
    Process: Revenue Schedule - Core
     domain in the Customer Contracts and Project Billing functional areas.
When you approve billable transactions, you can accrue revenue by generating revenue installments using 1 of these tasks:
  • Create Revenue Installments for Billable Transactions
  • Schedule Revenue Installments for Billable Transactions
Workday displays revenue as available to accrue when you change a:
  • Transaction billing status from billable to nonbillable.
  • Transaction billing status from nonbillable to billable.
  • Transaction from a
    Deferred
     to an
    Invoice
     revenue treatment.
  1. Access the
    Create Revenue Installments for Billable Transactions
     task.
    As you complete the task, consider:
    Option Description
    Transaction Type
    Select:
    • Project Time and Expense
       to create revenue installments and recognize revenue independently from billing for
      Project Time and Expense
       customer contract lines. To enable this process, select the
      Independent Revenue Processing
       check box on the revenue recognition schedule.
    • Fixed Fee Project
       for
      Percent Complete
       revenue recognition methods.
    • Usage-Based
       to create revenue installments and recognize revenue independently from billing for
      Usage-Based
       customer contract lines. To enable this process, select the
      Independent Revenue Processing
       check box on the revenue recognition schedule.
  2. As you complete the
    Revenue Accruals
     tab, consider:
    Option Description
    Select
    You can update revenue installments until the installment status is
    Complete
     or
    Canceled
    .
    Amount to Accrue
    Workday adds the amount to existing
    Available
     revenue installments when the billing transactions have the same grouping criteria. Otherwise, Workday creates a new revenue installment.
    Amount Scheduled to Accrue
    The amount excludes deleted and offset revenue installments.
    Completed Accrual to Date
    The amount accrued for revenue installments in
    Completed
     status as of the installment date.
  3. On the
    Revenue Offsets
     tab, view offset revenue installment lines for billable transactions.
    Workday displays offset revenue installment lines that you:
    • Changed from billable to nonbillable status.
    • Changed from a
      Deferred
       to an
      Invoice
       revenue treatment.
    • Changed in a way that affects accounting.
    • Deleted after you recognized revenue.
    • Split into multiple transaction lines.
    Revenue offsets only apply to
    Project Time and Expense
     customer contract lines.
To view the revenue recognition schedule, access the
Schedules
 tab on the customer contract.