Adjust a revrec entry

Override a calculated revenue or cost amount on a Revenue Recognition line before the batch posts. Use this when the system calculation doesn't match the finance team's view of recognised position for that project this period.

When to use this

When a calculated revrec line needs an override before approval — for example when the accountant wants to defer recognition on a specific project, a cost adjustment hadn't posted yet when the batch was calculated, or one project's actual % complete doesn't reflect reality (e.g. a milestone is reached but the cost hasn't caught up).

Prerequisites

• A Revenue Recognition record in Pending status (calculated but not yet submitted to the journal-generation batch)
• Permission to edit Revenue Recognition Lines

Walkthrough

1. Open the pending Revenue Recognition record.
2. Open the line for the project that needs adjustment.
3. Enter override values:
   • Revised % — override the calculated % complete.
   • Revised Rev $ — override the revenue amount this period.
   • Revised Cost $ — override the cost amount this period.
4. Add a Notes entry explaining why — these notes carry into the audit trail and help the auditors and future-you understand the override.
5. Save the line. The header total updates to reflect the override.
6. When the whole record is ready, submit it as normal — see Run a monthly batch.

What success looks like

• The Revenue Recognition Line shows the override values in the Revised fields.
• The original Calculated fields are preserved next to the Revised fields for audit comparison.
• The header Total Recognised Amount reflects the sum of revised values across all lines.
• After submission, the posted Revenue Recognition transaction is based on the revised values, not the calculated ones.

Gotchas

• Overrides do not flow backward into the deferred-account reclassification. The GL plug-ins reclassify invoices and bills as they post — they don't know about your override. The override only changes the recognition journal.
• Prior-period adjustments self-correct over time. The next month's calculation reads "Recognised to Date" from the prior periods, including this override. If you over-recognised this month, next month's calculated $ will be lower automatically.
• Don't edit a recognised value after the record is Completed. Edits to a posted Revenue Recognition Line don't repost the journal. If you need to change a posted recognition, either post a correcting recognition next period or have an administrator reverse and rerun.
• Re-running Calculate after an override wipes the override. If you want to discard your override and go back to the system numbers, that's the way to do it. If you want to keep your override, don't recalculate.

Related

• Run a monthly batch
• Set up revrec rules