Revenue recognition is an accounting procedure that officially accounts for revenue earned.
To use the Revenue Workbench, you’ll need to enable permissions for these roles:
|Role||Permissions to assign|
|Administrator||Revenue Contract Clauses and Revenue Contracts permissions|
|Revenue Manager||Revenue Data (gives access to the Revenue > All Revenue tab > and Revenue Runs (gives access to the Revenue > Revenue Runs tab and the ability to generate runs from the All Revenue tab)|
|Project Manager||Revenue Contracts (gives access to view, edit, and assign contracts) and Revenue Data (gives access to view revenue reports)|
Then, ensure the applicable permission sets are assigned to users who will be involved in managing revenue.
Before revenue managers can recognize revenue for a project, that project must be assigned a revenue contract.Each contract is comprised of one or more clauses. These clauses define rules that determine when revenue earned for a project becomes recognizable.
Replicon comes with two revenue clauses, and their associated contracts, available out of the box. Each of these rules has some configurable elements, that you can modify to suit your requirements.If you use a completely different method for recognizing revenue, contact Replicon, and we can create a custom revenue clause for you.
To set the default settings for an existing clause:
To configure a revenue contract using existing clauses:
If enabled, the rule is available for project managers to assign to new projects they create.
No, there can only be one version of each method, since all variable parameters are always available for selection at the project-level. Modifying parameters only changes which value is used by default.