How can we generate an invoice for recognition transection after runing Recognition it only generates a batch number. If we want an invoice, what do we do?
How we can generate Invoice for Recognition transection ?
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Hello
If your customer needs to receive a separate invoice every month, instead of invoicing the annual contract at one time and using Deferred Revenue to recognize revenue monthly, consider using 12 separate recurring invoices. Deferred Revenue will not be needed when Recurring Transactions are used to invoice your customer 12 separate times.
Deferred Revenue is used to recognize revenue from one lump some invoice over a period of time. Deferred Revenue posting is different from Recurring transactions and is different from giving a customer 12-month installment terms.
Deferred Revenue example:
- Customer is invoiced one time, on January 1, for a $2400 contract covering January 1, 2024 to Dec. 31, 2024.
- The invoice debits Accounts Receivable for $1200 and credits Unrecognized Revenue account in Post Period January.
- Each month when Revenue Recognition process is run, Acumatica produces a journal transaction that moves 1/12 of the contract price, $200 from Unrecognized Revenue to the Support Contract Sales account.
Another idea is to use 12-month installment terms as shown below. Installment Credit Terms will show the customer they may pay in 12 monthly installments. Using 12-month installment terms will not produce 12 consecutive invoices, and will not recognize revenue each month. Only Recurring Transactions feature will produce separate invoices, and only Deferred Revenue will recognize revenue monthly.
Laura
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