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Unbilled Revenue Mass Processing

Modules > Advanced recurring contract billing > Billing schedules > All billing schedules > [select a billing schedule] > Unbilled revenue processing > Create revenue journal entry

Modules > Advanced recurring contract billing > Billing schedules > Active billing schedules > [select a billing schedule] > Unbilled revenue processing > Create revenue journal entry

Modules > Advanced recurring contract billing > Periodic tasks > Unbilled revenue mass processing

Use this page to create the unbilled revenue journal entry for one or more selected billing schedules.

  • Create unbilled revenue journal entries for billing schedule lines
  • Stub billing schedule lines that have a journal entries
  • Reverse stub lines billing schedule lines that have already been stubbed

Notes:

  • The unbilled revenue journal entry can be created for any renewal term, provided that all billing detail lines from the previous term have been billed.

    • For example, a billing schedule line has an annual billing frequency for a 12-month period, January to December 2020. The line has three terms: the initial term, a second term (January to December 2021), and a third term (January to December 2022).

    After invoices for all the billing detail lines from the initial term are created, the journal entry for the second term can be created.

  • For deferral items that use the unbilled revenue feature, the billing line as well as the discount lines are processed.
    For these items, the unbilled revenue journal entry and the deferral schedule for both the billing line and the discount line are created.

The journal entries that are created for non-deferrable items and deferrable items posts a credit to different revenue accounts.

Non-deferrable item

An item is non-deferrable when the Deferrable check box is cleared. The following journal entries are created: 

Unbilled Revenue account   DR  
  Revenue account   CR

The unbilled revenue account is attached to each billing line item. The revenue account is the sales account for the billing schedule line. If the revenue account value is empty, the default account for the customer-item combination is used.

Deferrable item

An item is deferrable when the Deferrable check box is selected. The following journal entries are created: 

Unbilled Revenue account   DR  
  Deferral Revenue account   CR

The unbilled revenue account is attached to each billing line item. The deferral revenue account is the deferrable account for the billing schedule line. Also, the deferral schedule for the total extended amount with any discount is created.

When revenue splitting is used, the deferred amount is the contract revenue amount, which is the total period revenue of the billing schedule line item. The recognition type is credit, and the distribution type is revenue.

After the journal entries are created, the deferral schedule for the extended amount (without any discount) is created, and the information is copied to the Renewals tab of the billing schedule for reference.

Stubbing

When the unbilled revenue journal entry is stubbed, the total invoice for the term is calculated. A temporary journal entry is created and stubbed so that invoices for the remaining billing period can be created.

If a change to the term is made, the a reversal journal entry for the original amount is created, and a new journal entry for the new amount is created. For example, the amount for a period is 100.00. The amount is then increased to 120.00. In this case a reversal journal entry for 300.00 is created, and then a new journal entry for 320.00 is created.

Mass Create Unbilled Journal Entry

To create an unbilled revenue journal entry for a multiple billing schedules and stub the lines, follow these steps: 

  1. Create the unbilled revenue journal entries: 
    1. In Process Option, select Create journal entry.
    2. Select the Transaction date and the journal Name.
    3. Choose Select and add data filters so that only the range of records that you want appears in the list.
      Only billing schedule lines where the unbilled revenue journal entries have not been created appear in the list.
    4. From the lines list, select the lines that you do not want to process, and select Remove.
    5. Select OK.
    6. When you are asked to confirm the action, select Yes.

    2. The initial journal entries are created. Also for deferral items, the deferral schedules are created. Next, you are ready to stub the lines.

  2. To stub the lines: 
    1. In Process Option, select Stub.
    2. Specify the Transaction date and the journal Name.
    3. Choose Select and add data filters so that only the range of records that you want appears in the list.
      Only billing schedule lines where the unbilled revenue journal entries have been created appear in the list.
    4. From the lines list, select the lines that you do not want to process, and select Remove.
    5. Select OK.

    3. The billing schedule periods and deferral schedule periods that are stubbed have dates earlier than the specified Transaction date (which is the cutoff date).

Create a Single Unbilled Journal Entry

To create a single unbilled revenue journal entry for a billing schedule line, follow these steps: 

  1. On the Billing Schedules page, create a billing schedule.
  2. When adding items, to make an item deferrable, select the Advanced deferrals action.
    1. On the Transaction Deferral, set Deferred to Yes, and edit the page as needed and select OK.
  3. For a line, select Unbilled revenue and in the dialog that opens: 
    1. Set Unbilled revenue to Yes.
    2. Review and edit the unbilled revenue and unbilled discount accounts for the item as needed and select OK.
  4. Back on the Billing Schedules page. select Unbilled revenue processing > Create revenue journal entry.
    The Unbilled Revenue Mass Processing window opens and is automatically updated based on the billing schedule.
  5. From the lines list, select the lines that you do not want to process, and select Remove.
  6. Select OK.
  7. When you are asked to confirm the action, select Yes.

When revenue splitting is used, the transaction amount is the contract revenue amount instead of the total contract amount.

Reverse Stub

To reverse stub the lines, follow these steps: 

  1. In Process Option, select Reverse stub.
  2. Specify the Transaction date and the journal Name.
  3. Choose Select and add data filters so that only the range of records that you want appears in the list.

    4. Only billing schedule lines that have been stubbed appear in the list.

  4. From the lines list, select the lines that you do not want to process, and select Remove.
  5. Select OK.

Fields

This page contains the following fields: 

Field Description
Processing options

Select the process you want to perform: 

  • Create journal entry: Creates unbilled revenue journal entries for various billing schedule lines.
  • Stub: Stubs billing schedule lines that have the unbilled journal entries already created.
  • Reverse stub: Reverses the stubs for the billing schedule lines that have already been stubbed.
Transaction date

Displays the transaction date. The default date is the current date, which you can change as needed.

Name

Displays the journal name. The default value is from the page in Advanced Revenue & Expense Deferrals. You can change the name as needed.

List
Billing schedule number Displays the billing schedule number.
Customer account Displays the customer account ID or number.
Customer name Displays the customer name.
End user account Displays the end user account ID or number.
End user name Displays the end user name.
Item number Displays the item number for the line.
Product name Displays the product name.
Total revenue amount Displays the total extended amount or total extended amount for whole billing periods.
Total discount amount Displays the total discount amount for whole billing periods.
Unbilled revenue account Displays the unbilled revenue account number.
Revenue account Displays the revenue account number.
Deferral revenue account Displays the deferral revenue account number.
Unbilled discount account Displays the unbilled discount account number.
Discount account Displays the discount account number.
Deferral discount account Displays the deferral discount account number.

Buttons

This page contains the following buttons: 

Button Description
OK

Creates unbilled revenue journal entries and closes the window.

After the journal entry is created, you cannot delete the billing line.
Cancel Closes the page.