During the Generate Actuals step of the Rev Rec Close process, finance teams need to generate actual revenue for all agreements belonging to a particular Legal Entity. The Generate Actual and Rollback Actual buttons on Revenue console allow finance teams to manage all agreements and agreement fees of a legal entity with a single action.

You can perform the following actions to manage Actual Revenue from Revenue Console.

  • Generate Actual
  • Rollback Actual

Execution of Generate Actual or Rollback Actual batch job creates a record in the Revenue Run Result object. If the batch job execution fails or any agreement is not processed, a record is created in the Revenue Run Result Entry object.

Revenue Run Result Entry captures the failure result of the batch job. A The email notification is sent to the email ID of the logged in user. Email notification contains the following information:

  • Number of batch jobs processed
  • Number of Agreements Processed
  • Number of Agreements Successfully Processed
  • Number of Failed/Filtered/Invalid Agreements.

In case a batch job fails, the email notification contains a .csv file with error details and error message about the root cause of the batch job failure.

To enable email notifications, set Enable Email Notification as true from Revenue System Properties.

Generate Actual Revenue

Generate Actual generates actual revenue for this period for all agreements.

The Generate Actual button runs Generate Actual Revenue Job on all agreements. Requirements for generating actual revenue for each agreement and agreement fee are unchanged from the Generate Actual Revenue job which can be run from individual agreements. For more information on the Generate Actual Revenue job, refer to Generate Actual Revenue.

Eligible Agreement Reports provides a view of all agreements which have not had revenue generated for this period. Actual revenue for each agreement in this report is generated by Generate Actual action. Eligible Agreement Reports will have 0 agreements after Generate Actual is run.

To generate actuals using Revenue Console,

  1. Click the Revenue Console tab.
  2. Select the Legal Entity.
  3. Click Generate Actual.
    The appropriate process begins and you are redirected to the Revenue Run Result Detail page.

Agreement Revenue Schedules will be updated to include actual revenue for the current period.

Rollback Actual Revenue

Rollback Actual Revenue reverses the actual revenue for this period for all the agreements.

The Rollback Actual button runs the Rollback Actual Revenue Job on all agreements. Requirements for rolling back actual revenue for each agreement and agreement fee are unchanged from the Rollback Actual Revenue job which can be run from individual agreements. For more information on the Rollback Actual Revenue job, refer to Rollback Actual Revenue.

After this job completes, Eligible Agreements Report contains all agreements where:

  • RevRec Active box must be checked.
  • RevRec Period Date on the agreement must be same as the Current Period Date on the Revenue Console.
  • Status Category must be In Effect.
  • Status must be Activated.

To rollback actual revenue using Revenue Console,

  1. Click the Revenue Console tab.
  2. Select the Legal Entity.
  3. Click Rollback Actual.

The appropriate process begins and you are redirected to the Revenue Run Result Detail page.

Agreement Revenue Schedules are updated to reflect the rollback of actual revenue for the current period.