Question

Revenue Recognition - Error

  • 9 December 2022
  • 4 replies
  • 146 views
nithyashankar
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Hi Team,

 

Currently, I am testing Projects with Revenue Recognition for Progress Billing. Created a Project and activated. It includes Revenue Budget and Cost Budget. For the Revenue side, I have created an AR invoice which gets posted in “unrecrev” Account group (Liability). Now I have run the “Run allocation by projects” to allocate the income to the project.

I got the error - PM Warning: Transactions were not created during the allocation. When I click on the process button.

 

Kindly suggest on the missing steps.

 

 

---- Nithya

4 replies

Laura02
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Hello @nithyashankar71 ,

I see you have a warning about no transactions being created during Allocation.

Please post a screen shot of the Project Balances tab, at least one transaction that should be allocated (so we can see the date and the account group), the Allocation Rule (both tabs), and

 

And any details used in Run Allocations by Projects screen.

Thank you!

Laura ~ Klear Systems, Inc. Irvine, CA. ~ Please remember to "Mark Best Answer" to help those who are facing the same problem.~
nithyashankar
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Userlevel 3
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Hi Laura,

Please find the below screenshot - Allocation rules - Calculation rules

 

 

Allocation settings,

 

 

May I know the actual steps for performing the Progress billing with Deferred Revenue concept.

---- Nithya
Chris Hackett
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Userlevel 7
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Hi @nithyashankar71  were you able to find a solution? Thank you!

Chris ~ Let us know how we're doing: https://forms.office.com/r/xmJUdZ1QE5 - A member helped you, please *Like* their post. A member provided an answer to your question, please mark it as *Best Answer*.
K
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Hey @nithyashankar71 I am having the exact same problem in our system. Please share if you were able to find a solution, all of my settings are identical to yours in the screenshots. Thanks!

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