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Revenue Recognition for Progress Billing

  • October 17, 2022
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brianmcmillin100
Freshman II

In the Acumatica produced YouTube video Set up Allocation Rules to Recognize Revenue - Acumatica Construction Edition from April of 2020 viewers are cautioned against using Auto Completion of the Cost Budget if there is more than one cost line per task:

 

Is this still a limitation?

If not, in which release was it resolved?

If so, is it dependent upon the selection of Completion Method (Budgeted Amount or Budgeted Quantity)?

Best answer by Heidi Dempsey

Here is a PDF, hopefully that works.

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      Heidi Dempsey
      Community Manager
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      @brianmcmillin100 Yes it is a limitation although i do have a sample allocation rule that can follow the cost code or inventory id of the Project Transaction.  I have attached a simple scenario to show you how it can work.  Feel free to reach out with any questions.

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        brianmcmillin100
        Freshman II

        @Heidi Dempsey Thank you.  I am hopeful your proposed scenario will meet our needs, but the hosting server for the attachment isn’t ready to let me view it 3 days later: 

        Scanning file for viruses

        Can you try to repost please?

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        Heidi Dempsey
        Community Manager
        Forum|alt.badge.img+3
        • Heidi Dempsey
        • Community Manager
        • Answer
        • October 31, 2022

        Here is a PDF, hopefully that works.

        Translate
          Freshman I

          Hi Heidi,

          Is your proposed scenario still valid in 2024 R1 and later versions, specifically with the ‘Non-Billable WIP Account Group’ in the project task for WIP reversal? I can no longer specify the ‘Project Unbilled AR’ account for invoicing to chew up previously recognized revenue.

          Thanks, Eric

           

           

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