Adjusting Revenue Amounts

Use this procedure to adjust revenue amounts and have the adjustment reflected in the ceilings and tolerances for the contract, use Revenue Adjustment (BR43.1). Adjustments created on Revenue Adjustment (BR43.1) are often used to correct a revenue amount during the current period if it is known that the actual adjustment will not occur until a later period. Revenue Adjustment can be used to simulate the revenue effect of the future adjustment.

To adjust revenue amounts

Access Revenue Adjustment (BR43.1).
To adjust revenue amounts, use the following guidelines to enter field values:

Control Group

The control group number is automatically assigned by the system to group revenue adjustments. Type a description for the control group.

Trans Date

Type the transaction date for the revenue adjustment. If you leave this field blank, the default value is the system date.

Post Date

Type the posting date for the revenue adjustment. If you leave this field blank, the default value is the system date.

Activity

Select the posting level activity for which the revenue adjustment is being entered.

Acct Cat (Account Category)

Select the cost type account category for which you are adjusting the revenue amount.

Amount

Type the amount of the revenue adjustment.

Note: Revenue adjustments are created with cost and billable amounts of zero.

Currency

The currency associated with the contract is displayed.

Company

Select the GL company, accounting unit, account and subaccount associated with the revenue adjustment.

Desc (Description)

Type a description for the revenue adjustment. If no description is entered, the control group description is used.

Resource Type

Select the resource type associated with the revenue adjustment.

Resource Co (Company)

If a resource type was selected, select the resource company associated with the revenue adjustment.

Resource

If a resource type was selected, select the resource associated with the revenue adjustment.

Billing Category

Select the billing category associated with the revenue adjustment.

Note: The billing category is supplemental information used with transaction writer or custom reports. It is not used in any revenue calculations.

Billing Value

If a billing category was selected, type the value of the labor category associated with the revenue adjustment.

Note: The billing value is supplemental information used with transaction writer or custom reports. It is not used in any revenue calculations.

Offset Trans Date

Type the transaction date for the offset transaction.

Offset Post Date

Type the posting date for the offset transaction.

Offset Desc

Type the description for the offset transaction.

Note: All information for the offset transaction is duplicated from the adjustment transaction except the amount and the transaction and posting dates. The amount is the same as the adjustment amount but with the opposite sign. You must enter transaction and posting dates for the offset transaction.

Follow-up Tasks

After entering the revenue adjustment, run Revenue Calculation (BR130) to create AC and GL journal entries and perform ceiling and tolerance calculations.