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1st question --Does anyone know where to find out what the smooth billing, create revenue and smooth revenue boxes on the contract entry/update screen are used for exactly (to check or not to check)?
2nd question-
Scenario:
We have a contract that start/end date to cover 5 years and billing is setup to bill monthly every 3 months (all on contract entry screen), so when we transfer from a quote to a contract and go through field services to recognize revenue, it naturally is creating 5 contract line items and a revenue summary that spreads the revenue recognition over the 12 months evenly for each year.
Problem:
We want to change the revenue recognition (unposted) because of the upfront $ that was paid. It doesn't seem that you can manipulate the lines in the revenue summary, so where would you change the revenue recognition unposted entries ..or do you have to setup the revenue recognition differently prior to a step ..allowing you to edit the unposted revenue summary lines later?
Sincerely grateful for any advice:)
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To answer your 1st question:
Smooth billing:
this determines if the contract will bill based on whole or pro-rated periods if billing is not on the 1st day of the month. For example a 12 m contract will generate 13 invoices including 11 full months if this checkbox is not selected.
Create revenue:
if you leave it unchecked and the contract is billed monthly, the billing routine can automatically recognize revenue
smooth revenue:
same logic as for Smooth Billing
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