About on-account accrued revenue
Important
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Applies To: Microsoft Dynamics AX 2012 R3, Microsoft Dynamics AX 2012 R2, Microsoft Dynamics AX 2012 Feature Pack, Microsoft Dynamics AX 2012
You can accrue revenue on Fixed-price projects and on Time and material projects while a project is in progress. You do this by creating an on-account invoice. The amount of accrued revenue that you select can be related to specific costs or to a specified percentage of the total contract amount. You can post an estimated amount as accrued revenue, and then reverse the estimate when you calculate the actual revenue earned on a project. For more information about how to create an on-account invoice, see Create on-account invoices for all projects.
Before you can accrue on-account revenue, you must select the ledger accounts to use for posting accrued revenue in the Project groups form. The following table shows postings by project transaction type for on-account accrued revenue.
Transaction type |
Posting results |
|---|---|
Post estimate |
If you select On-account invoicing in the Profit and loss field of the Project groups form for Fixed-price projects, the selected account is debited, and the on-account invoice amount is posted to the balance sheet. |
Reverse estimate |
If you select On-account invoicing in the Profit and loss field of the Project groups form, the account is credited. |
Eliminate |
The account is credited. |
Reverse elimination |
The account is debited. |
See also
Create and post invoice proposals