a month ago
For event based revenue recognition of enterprise project we need plan cost and plan revenue
How to plan both the cost and revenue in public cloud
I checked import financial plan data app , but after planing on revenue accounts by PLN category still revenue is not reflecting
Request clarification before answering.
For Enterprise Projects in Public Cloud you need to use Financial Plan upload for all costs and revenues. The both use category PLN. Make sure the revenue is a negative amount. And make sure all of your G/L accounts are in the correct G/L Account Hierarchy for EBRR and reporting to work.
I attached a screenshot of an upload file that worked.
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Good day @Yogesh_Ajgar
Thank you for your question.
Please review these references for more details:
Project Control - Enterprise Projects, Event-Based Revenue Recognition, Project Cost and Revenue Planning
Revenue-Carrying Enterprise Projects with Event-Based Revenue Recognition, Import Financial Plan Data
In public cloud, you can only enter planned cost through the import Financial Plan Data function. You have to maintain planned revenue through project billing and not through GL planning.
You can plan your costs by: Using the project control app, then go to your Work Packages or import financial plan data for activity types like labour, materials and expenses.
You can also plan your revenue in the same app under Project Billing. You can maintain the billing plan and milestone amounts for fixed price objects. For Time and Expense projects, the revenue is derived automatically based on the hours you planned and your billing rates.
You cannot plan revenue GL because it is not connected to EBRR and that is the reason why import financial plan data does not show revenue. You can only use project billing data such as billing plans, billing rules, etc., for that.
Let me know if you have further questions.
Best regards
Chris
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