The Scheduled Revenue and Expense object is a tool used to perform journal entries to amortize revenue associated with a billing.
- Navigate to the Billing record for amortizing revenue.
- Click Amortize Revenue.
- Complete the following required fields:
- Start Date - will auto populate with the Billing Cycle Start Date from the Billing record
- End Date - will auto populate with the Billing Cycle End Date from the Billing record
- Amount - This is the total amount of the Billing not the monthly amount.
- Debit GL Account
- Credit GL Account
Note: This automatically posts a Debit and a Credit to the General Ledger in the Accounts you have specified for each Accounting Period from the Start Date to the End Date.
Note: If the Start Date or the End Date are not the beginning or end of a month, a proration calculation will be done based upon the number of days in the first and last Accounting Periods.