What does it do? This includes anything in the background, running in SQL or whatever else.
When and how often does the report need to be run?
Does it need to be run before or after any other reports?
Are there any error messages associated with this report? Also, including how to resolve them will help a lot.
If you include any ‘general setup info’ section, I would explain any required parameters there.
Are there any custom parameters? Usually entered in the second parameter tab. (SQL statements or other options)
Revenue recognition is a process whereby the amount that is shown on an income statement is “recognized” either over the life of an order or on some triggering event. The cash amounts are moved from the deferred revenue accounts to the real revenue accounts as defined in the PRODUCT_REVENUE_DISTRIBUTION table. For instance, a subscription for $120 for 12 issues will move $10 per issue from the deferred revenue account to the real revenue account.
This batch report should run periodically (usually monthly) to recognize all deferred revenue that qualifies for recognition as revenue in the time period covered by the process all subsystems in Personify.
This batch process generates the following reports (see below for sample reports):
FAR670Detail: displays summary information and detail order information to back up summary totals.
FAR670Summary: displays a listing of account totals.
FAR670Skip: displays a list of orders that could not have revenue recognized because of one of the following reasons:
Invalid Account – Either deferred or AR account is no longer valid
Mismatch – This mostly will apply to back-issues for journals where there is no issue inventory to send. This will occur when periods to recognize income exceed the number of rows in SUB_ISSUE_FULFILLMENT table for an order. Therefore revenue cannot be recognized.
| Parameter | Description | Required? |
|---|---|---|
| Subtitle | This field is used to enter in a subtitle that appears underneath the report heading. | No |
| Run Mode |
|
Yes |
| Transaction date | The FAR_TXN.txn_date. This is also the date that is used when comparing to “Specific Date” recognition method. For Monthly recognition use only the month value to determine which month, then recognize for the last day of that month. | Yes |
| Subsystem | The subsystem for which to run the revenue recognition. Select "ALL" to allow the process to run against all orders at one time. Defaults to SUB. | Yes |
| Organization | Defaults to the organization of the logged in user and cannot be changed. | Read-only |
| Organization Unit | Defaults to the organization unit of the logged in user and cannot be changed. | Read-only |
| Parent Product Code | The parent product code for which to run the revenue recognition. | Yes |
| Product Code | Enter the product code to limit the revenue recognition for a specific product. | No |
| Report Format |
|
Yes |
| Short Month Processing | This parameter only applies to MONTHLY revenue recognition method code. MONTHLY revenue recognition is applicable for MBR or SUB Subsystems. The valid values are "BEGIN" or "END". Enter BEGIN to recognize the short month at the beginning of the Membership/Subscription term. Enter END to recognize the short month at the end of the Membership/Subscription term. | No |
