Concept: Revenue Recognition for Student Charges
When you charge students before fully providing goods and services, such as tuition, you
can record those charges as deferred revenue. You can then recognize the deferred
revenue as you provide the goods or services over time. To mark a charge item for
deferred revenue, select the
Deferred Revenue
check box on the
charge item.Revenue Recognition Schedules
Workday:
- Creates revenue recognition schedules when you approve charges identified as deferred revenue.
- Divides the charge into monthly installments based on the number of months in the academic period.
When you adjust charges related to charge items marked for deferred revenue, Workday:
- Divides the adjustment into monthly installments.
- Backdates installments as necessary to spread the adjustment evenly over the academic period.
You can use these reports to track revenue recognition schedules:
- Find Student Revenue Recognition Schedules
- Find Student Revenue Recognition Installments
Revenue Recognition Accounting
You can use these tasks to generate revenue accounting:
- Schedule Student Revenue Recognition Accounting: Move deferred revenue installments to recognized revenue on a regular basis.
- Create Student Revenue Recognition Accounting: Process up to 1000 installments at a time on an ad hoc basis.