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E1: 42: How to Setup and Use Revenue Recognition with Sales Order Management (Doc ID 3013823.1)

Last updated on MAY 13, 2024

Applies to:

JD Edwards EnterpriseOne Sales Order Management - Version 9.2 and later
Information in this document applies to any platform.

Goal

The Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB) created a joint standard regarding the recognition of revenue.

The overall functionality of Revenue Recognition is explained in Doc ID 2212312.2 E1: 03B: JD Edwards EnterpriseOne Revenue Recognition Enhancement for Accounts Receivable ( FASB ).

EnterpriseOne Revenue Recognition Enhancement extends to all of our modules that support invoicing customers in various disciplines such as:

The goal of this document is to provide a simple, step-by-step example of how-to setup and process Sales Order Management Invoices for Revenue Recognition.

NOTE: All of the data displayed in the examples below are from JD Edwards Demo Data. No actual Customer Data or Personal Data is displayed.

Solution

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In this Document
Goal
Solution
 Automatic Accounting Instructions (P40950 and P0012) Setup for Sales
 Revenue Recognition Triggers (P03B420) Setup for Sales
 Sales Update (R42800) Processing With Revenue Recognition
 Revenue Recognition (P03B116) Processing for Sales Invoices
 Manual Revenue Recognition
 How to recognize all Revenue AND Cost of Goods Sold for Sales Invoices
 How to Recognize Partial Revenue and Cost of Goods Sold for Sales Invoices
 How to Recognize Less than Full Sales Invoice Revenue and Close Remaining Amount
  Summary and Conclusion
References

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