SBS ARED Deferral Schedule Line Recognition

Use this page to process the recognition or reverse the recognition of deferral lines.

Tip: To process the recognition or reverse recognition of lines for several deferral schedules, use the SBS ARED Recognition Process or SBS ARED Reverse Recognition Process forms.

Recognize Deferral Revenue

To recognized the revenue for a deferral line, follow these steps: 

1. On the SBS ARED Deferral Schedules page, select the line that you want to recognize from the Schedule Line FastTab, and select Recognize > Recognize.
2. On the SBS ARED Deferral Schedule Line Recognition page, specify the various dates, description, and other options as needed.
3. Select Recognize.
4. When you are asked to confirm the action, select Yes.

Reverse Recognition of Deferral Revenue

To reverse the revenue recognition for a deferral line, follow these steps: 

1. On the SBS ARED Deferral Schedules form, select the lines that you want to reverse the recognition from the Schedule Line area, and select Line > Functions > Reverse Recognize.
2. On the SBS ARED Deferral Schedule Line Recognition form, specify the options as needed.

In particular, specify the Recognition Journal Template and Recognition Journal Batch.

3. In the Actions tab, select Process > Recognize.
4. When you are asked to confirm the action, select Yes.

After the schedule line is recognized or reverse recognized, a report showing the results appears.

 

Delete Recognition Journal Line

If a user wants to delete a line, all the lines having respective Document No. and Deferral Schedule No. will get deleted automatically for a single recognized period.

1. On the Schedule Line , Select the Recognition Journal No

2. General Journals page will be opened.

3. Select the Line and then click on three dots and then Delete

4. A pop-up message will appear to confirm deletion “ Go ahead and delete?”

5. Click on “Yes”

6. A message will appear saying “Deleting one line will remove all recognition journal lines. This action is irreversible. Confirm deletion?”

7. The Deferral Schedule Line of which the recognition journal is deleted will become unrecognized and Document No. field will become empty.

 

 

Fields

This page contains the following fields: 

Recognized Processes Table

Field	Description
Cutoff Date	Specify the date on which to recognize amounts.
Description	Specify a description of the journal that is created. When you select the recognition action, the default value is automatically updated. You can change it if needed.
Override Transaction Date	Indicates whether the transaction date is to be overridden with the transaction date specified on this form:  On: The transaction date can be overridden for all lines with the transaction date specified on this form. Off: The transaction date cannot be overridden for all lines. By default, the date used on the journal voucher is the end date of the deferral schedule line.
Transaction Date	Specify the date on which the recognition voucher is posted for all deferral scheduled lines. Available when Override Transaction Date is turned on. Note: After this date is set, the transaction dates on individual deferral schedules can still be changed. This date must be within an open fiscal period.
Transaction Date for Closed Periods	Specify the transaction date for deferral schedule lines that are not in an open or valid period. This date must be within an open fiscal period. Available when Override Transaction Date is turned off.
Journal Template for Recognition	Select the template for recognition journal entries. The default value is from the SBS ARED Advanced Revenue & Expense Deferrals Setup page.
Journal Batch for Recognition	Select the template for the recognition batch journal entries. The default value is from the SBS ARED Advanced Revenue & Expense Deferrals Setup page.

Buttons

This page contains the following buttons: 

Button	Description
Actions tab
Process	Select an action to perform on the selected line:  Recognize: Recognizes or reverses the recognition of the revenue for the selected lines.