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- Maintenance Contract Over or Under Billed: This
This report helps you identify contracts that are unbalanced before you recognize revenue. - Maintenance Contract Deferred Revenue: This
This report allows you to see financial and contract details for the Deferred Revenue GL account during reconciliation. For more information, see Maintenance Contract Deferred Revenue in the SSRS Reports documentation.
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If you are using the manual method of revenue recognition, revenue is recognized when the invoice is posted. If you are using the percentage-of-completion or revenue schedule revenue recognition method, invoicing and recognizing revenue are two separate processes.
When you recognize maintenance contract revenue for a specific period, a general ledger batch called RECOGNITION is created.
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If you are using the percentage-of-completion revenue recognition method, you receive messages stating that year-end closing should be run prior to recognizing revenue in subsequent fiscal years and that maintenance contracts ending in the period should be closed or renewed prior to recognizing revenue. Choose Continue in both caution windows. You need to close or renew contracts before recognizing revenue for a contract's final period.
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If the period has already been posted, you can still print the Revenue Recognition Posting Journal report.
Verifying the General Ledger amounts
When the revenue recognition routine is run, a Microsoft Dynamics GP General Ledger entry is created and saved under the Batch ID "RECOGNITION."
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