Revenue Recognition Approval Workflow
The Revenue Recognition Approval Workflow manages the validation and approval routing of revenue arrangements before they are further processed. You can assign revenue recognition limits to determine if an arrangement requires approval and to identify the designated approver. You can set up an approval hierarchy by designating a series of approvers, each with an assigned maximum approval limit. You can also customize the workflow to add and remove features based on your business requirements.
The Revenue Recognition Approval Workflow validates an arrangement based on the maximum total revenue limits that are assigned to reviewers and approvers. For example, an arrangement is created with a total revenue amount of 17,800. The default General Limit of the workflow is set to 10,000. The reviewer and approver limits are set up as follows:
|
Role |
Revenue Recognition Limit / Approval Limit |
|---|---|
|
Revenue Accountant (Reviewer) |
15,000 |
|
Revenue Manager 1 (Approver 1) |
30,000 |
|
Revenue Manager 2 (Approver 2) |
50,000 |
The arrangement is routed to Revenue Manager 1 for approval due to the following:
-
The total revenue amount exceeds the general limit.
-
The total revenue amount exceeds the Revenue Accountant’s limit.
-
Revenue Manager 1 has an approval limit that can cover the total revenue amount.
-
The arrangement is not routed to Revenue Manager 2 because the total revenue amount does not exceed the previous approver’s limit.
Availability
The Revenue Recognition Approval Workflow is available to users of the Advanced Revenue Management module.
Limitations
Be aware of the following limitations of the Revenue Recognition Approval Workflow:
-
The Multiple Currencies feature is not supported. Approval limits align with the base currency of the account. No conversion is made for cases where transaction amounts do not use the base currency.
-
The Multi-Book Accounting feature is not supported because the workflow only supports single currency transactions.
The SuiteFlow conditions used for Bulk Approvals for records using custom approvals have been updated for the revenue recognition record. Prior to 2016.2, both the workflow button’s condition and the Next Approver condition were used to filter records for bulk approvals for the revenue recognition record. The Next Approver condition checks that the Next Approver field on the record contains the current logged in user. Beginning in 2016.2, the Next Approver condition is no longer used to filter records for bulk approvals for this record. Records are now filtered for bulk approvals using only the workflow button’s condition. If you would like to continue to filter records based on the Next Approver field, you must add the condition to the workflow button condition. If you require assistance, contact Customer Support.