Flowrev Help Portal

The invoice line's service start and end dates, in conjunction with the item recognition parameters set on the Items page or on the invoice line specifically, is used to identify and process the invoice line items that are to be deferred from the invoice date (if required), and the date or duration over which each is to be recognized. Required schedules are generated from the Flowrev "revenue" page, using the "Generate Revenue Schedule" button, which is executed after setting all invoice recognition parameters/dates.  The same applies to bills, for which the schedules are created from the "Costs" page using the "Generate Costs Schedule" button.

For lines (invoice or bill line) with recognition period:

• ONCE: when the service start date is in a different month from the date the full amount of the invoice line will be deferred on the invoice/bill date (if required), and recognized on the service start date.
  
  

  The service end date is not relevant, nor is the recognition computation type (i.e. per diem, even period, balloon) - this is because the full amount is recognized at one time in full.

  
  If the service start date is within the same month as the invoice date, then a recognition schedule is created only if the line is mapped to a current liability account for invoices (current asset for bills) and the service date was set either manually from the invoice details page or, if using auto-date, via the service date macros detailed in this article's list items 1. and 2. ( {start-end} on line description or reference field) only. Users can also consider mapping such invoice lines to a "Revenue" account to have the amount recognized "immediately" on the invoice date. Or to an "Expense" account for bills.
  
  
• MONTHLY: when the duration of an line spans across multiple months, the full amount of the line will be deferred on the invoice/bill date (if required) and a recognition schedule created for the end of each month within the duration defined by the service start and end dates.
  
  

  If the end date is prior to the last day of a month, then the recognition for that last month occurs on the service end date (and not on the last day of the month).

  
  If the service start and end date is within the same month as the invoice/bill date, then a recognition schedule is created only if the invoice line is mapped to a current liability account (current asset for bill line) and the service date was set either manually from the invoice details page or, if using auto-date, via the service date macros detailed in this article's list items 1. and 2. ({ start-end} on the line description or reference field) only. Users can consider mapping such invoice lines to a "Revenue" account to have the amount recognized "immediately" on the invoice date. And such bill lines to an "Expense" account.
  
  
• QUARTERLY: when the duration of a line spans across multiple fiscal quarters, the full amount of the line is deferred on the invoice/bill date, and recognized at the end of each quarter (with the last recognition happening on the service end date if it is prior to the last day of the quarter).
  
  If the service start and end date is within the same quarter as the invoice date, then a recognition schedule is created only if the line is mapped to a current liability account (current asset account for bills). Users can consider mapping such invoice lines to a "Revenue" account to have the amount recognized "immediately" on the invoice date. And such bill lines to an "Expense" account.
  
  
• YEARLY: when the duration of a line spans across multiple fiscal years, the full amount of the line is deferred on the invoice/bill date, and recognized at the end date of each fiscal year within the invoice duration.
  
  If the service start and end date is within the same fiscal year as the invoice date, then a recognition schedule is created only if the line is mapped to a current liability account (current asset account for bills). Users can consider mapping such invoice lines to a "Revenue" account to have the amount recognized "immediately" on the invoice date. And such bill lines to an "Expense" account.
  
  
• NONE: No recognition schedule is ever created for items / invoice / bill lines set to None.