Revenue Recognition

The Financial Integration (FI) aspect of Compiere means Accounting Consequence, and stuff that makes Accountants rule. Well, IANA.

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Revenue Recognition

Postby hema » Thu Dec 16, 2004 5:29 pm

Hi,

I would like to know how Revenue Recognition works. Are the values in the Revenue Recognition Plan tab generated when, for example, a product is sold? When do we use the Revenue Recognition Run tab?

Many thanks,
Hema
hema
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Postby lofx » Thu Dec 16, 2004 5:38 pm

Hi!!

this is rather difficult to explain, as we found in our research we didn't need this feature so far.......................
revenue recognition is supposed to be used for long term contract, when payments or invoices will be split during a long period, but for accounting purposes or other you need to place those invoices in different periods................

it is a rather complicated feature that i would (personally) not go into much detail unless it was a real need for my business, features like recurring documents or distribution lists might be much more useful if you need to make invoices "automatic".

hope this clarifies a little bit................
if you really need help with this issue i will do a further research...........
lofx
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