on 02-14-2017 8:57 PM
Hi Experts,
My customer wants to use the revenue recognition functionality in ByDesign but the issue is that they have never run this functionality even though they have been using the system since 2012. They manually transfer balances from deferred accounts to actual accounts.
My query is if they try to run the revenue recognition now to close year end 2016 what would be the impact from the systems point of view and what can we do to mitigate those issues (this is a non-finance person speaking).
Kind Regards
Bilal Hashmi
Hello Bilal,
they can just switch it on, but I would recommend to complete the close of 2016 first. They have practice in it and introducing new functionality during year close is never a good idea.
But having completed the close, they can switch it on.
Recommendation:
I hope this helps. Please consult also the help documents on automated accrual method determination, to apply them consistently (usually required by GAAP).
Best regards,
Thomas
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