Introduction

Revenue Schedules dictate how the revenue for a charge is to be spread out over time. 

Billing Schedules dictate when charges are READY to be invoiced (charge ready date, start/end date for the period, etc). 

Best Practices: 

The total Billing Schedule should match the total Revenue Schedule because organizations should be recognizing all, but not more than what is invoiced. 

Revenue Schedule Basics

Revenue Schedules determine when revenue is recognized. The revenue schedule may be different than the billing schedule when a company decides to recognize revenue over a period of time, using specific revenue rules such as:

• Straight-line proration
• Straight line even period
• Exact days in period prorated
• Custom schedule

Typically, the revenue recognition schedule period is monthly, but this can also be set at the revenue rule as weekly, quarterly, semi-annually, annually, etc.

The revenue schedules for all Subscriptions determine the revenue that is recognized by the user’s company for each period via monthly or quarterly accounting and financial reports.

Preconditions:

Finance must be enabled in Menu > Setup > Finance.

Considerations: 

Ordway has a setting that auto-reallocates Revenue Schedules based on manual edits to the Billing Schedule (Ordway auto keeps them in sync). Ordway will automatically "catch up" anything that is in a closed period.

Contact Ordway Support to enable the Auto-update revenue schedules when manual edits are made to billing schedule lines setting.

Edit or Delete Revenue Schedules

Steps:

1. Navigate to Menu > Finance > Revenue Schedules.
2. Click the Revenue ID for the Schedule to review. 
3. Click Edit from the Gear icon to edit the Schedule.
   
   
4. Scroll down to the Schedule section. 
5. Edit the Posting Date and Period Revenue for each period.
6. Use the Delete icon to delete the revenue recognition from a period.
7. Save when finished.