Actual Revenue is the revenue earned for the current period. Actual revenue differs from Budget and Forecast revenue by reflecting the results of operations. Budget and Forecast revenue is used primarily for planning and may or may not be accurate.

Generate Actual Revenue is used to generate the actual revenue for the current period of the agreement. The Agreement Revenue Schedule for the current period will be updated to reflect the actual revenue amount. The RevRec Period Date is incremented to the end of next month and RevRec Period Number is incremented by 1. 

Note

You can opt to account for or ignore the leap year while calculating revenue from Custom Settings. Go to Setup > Build > Develop > Custom Setting and click Manage for Revenue System Properties. Click Edit for System Properties and select Ignore Leap Year For Revenue Recognition to ignore the leap year for revenue recognition.

To generate actual revenue

  1. Select an existing agreement.

  2. Under the Custom Links section, click Generate Actual Revenue. 
     

    Note

    The Return button will be gray until the generation of actual revenue is complete.





  3. Click Return. 

    Note

    The Agreement Revenue Schedules will now reflect actual revenue for the period.



    Note

    Agreement Revenue Schedules are generated automatically when you click Generate Forecast Revenue. For more information on Agreement Revenue Schedules, please refer to Agreement Revenue Schedules.