Run a monthly batch

Create a Revenue Recognition record for the period, calculate each project's recognised revenue and cost, review the lines, then approve to post the recognition transactions.

When to use this

At every month-end (or your chosen revrec cadence). The batch is the trigger that turns the deferred-revenue and deferred-expenses balances accumulated through the month into actual recognised revenue and cost in the GL.

Prerequisites

• All customer invoices for the period have been posted
• All vendor bills for the period have been posted
• The accounting period is still open
• The previous month's Revenue Recognition record is at Completed — recognition is sequential
• Permission to create and approve Revenue Recognition records (typically Administrator or PF Admin)

Walkthrough

1. Navigate to FullClarity → Project Financials → Revenue Recognition and click New.
2. Set the Date (transaction date for the posted recognition entries) and the Posting Period.
3. Pick the Subsidiary and, optionally, narrow by Billing Type if you want to recognise only certain billing types this run.
4. Select the projects to include. The worksheet creates one Revenue Recognition Line per project.
5. The worksheet shows for each project:
   • Total Contract / Budgeted Costs / Actual Costs / Billed to Date
   • Recognised to Date % and Recognised to Date $ (cumulative prior recognition)
   • Calculated % Complete — min(actual cost / budget cost, 1.0), forced to 100% if the project is marked complete
   • Calculated Rev $ and Calculated Cost $ — what the system proposes to recognise this period
6. Review the lines. Where a line needs an override before posting, see Adjust a revrec entry.
7. Submit the Revenue Recognition record. The status moves to Generating Journals and a background batch posts one Revenue Recognition transaction per line.
8. Wait for the status to reach Completed. Each line's Journal field now points to the posted transaction.

What success looks like

• Revenue Recognition record in Completed status, with one line per included project.
• One Revenue Recognition custom transaction posted per project per period.
• Each project's Deferred Revenue and Deferred Expenses GL account balances net to the not-yet-recognised position.
• The GL revenue accounts (split by cost category) show this period's recognised revenue.

Gotchas

• The batch only processes projects with revrec rules set up. Projects without a recognition basis configured are skipped silently. See Set up revrec rules.
• Once submitted, individual lines can't be edited. Override values must be entered before you submit. If the batch has already posted and a line is wrong, use a new recognition round next period to true it up.
• Closing the accounting period before submission blocks the post. Keep the period open until the Revenue Recognition record is Completed.
• Double-submission is guarded against. The batch checks status before starting — a second submission while the first is still Generating Journals will abort. You won't get duplicate journals.
• If the batch finishes in Completed With Errors status, some lines posted and some failed. Open each line and check the Journal field — lines without a journal didn't post. Resolve the underlying issue (e.g. missing GL accounts, locked period) and run a follow-up recognition round for the affected projects only.
• The recognition transaction posts split by cost category — one credit line per category. The GL shows recognition broken down by category (Labour, Materials, etc.) rather than as a single project total.

Related

• Set up revrec rules
• Adjust a revrec entry
• Capital project revrec