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Create Unbilled Revenue Initial Journal Entry
Access this page from the SBS ARCB Billing Schedule Card, and at the header level, select Actions > Unbilled Revenue > Create Unbilled Revenue Initial Journal Entry.
Use this page to create an unbilled revenue journal entry for all line items in a single billing schedule.
Tip: To create the initial journal entry for a single line on the SBS ARCB Billing Schedule Card, select a line and use the Unbilled Revenue > Create Initial Journal Entry to open the Unbilled Revenue Parameters page.
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.
Create Unbilled Journal Entry
To create an unbilled revenue journal entry for all billing schedule lines, follow these steps:
- On the SBS ARCB Billing Schedule Card page, create a billing schedule.
- For all lines that use the unbilled revenue feature, ensure to select the Unbilled Revenue check box and check the Unbilled Revenue Defaults.
- From the header level actions, select Actions > Unbilled Revenue > Create Unbilled Revenue Initial Journal Entry to open the Create Unbilled Revenue Initial Journal Entry page, and check the values for creating the initial journal entry for the lines. Change any of the values as needed.
If any of the values are empty, the initial unbilled journal entry is not created. - Select OK.
Fields
This page contains the following fields:
| Field | Description |
| Journal Template |
Select the default journal template for the journal entries. Available before the initial unbilled journal entry is created. |
| Journal Batch |
Select the default journal batch used for the journal entries. Available before the initial unbilled journal entry is created. |
| Unbilled Revenue Account |
Select the account for the unbilled revenue journal entry. Available before the initial unbilled journal entry is created. |
| Unbilled Discount Account |
Select the account for the unbilled discount journal entry. Available before the initial unbilled journal entry is created. |
| Transaction Date |
Specify the date on which the initial unbilled journal entry for the line is created. Available before the initial unbilled journal entry is created. |
| Recalculation Date |
Specify the date for recalculating the initial unbilled journal entry. When the date is empty, the current date is used for the recalculation. A recalculation of the initial unbilled journal entry is required when a change is made to the line item (e.g., updated quantity). |
| Comments | Specify any comments. |
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. |
| Close | Closes the window and cancels the action. |
