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Solution Overview

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This solution introduces a comprehensive framework for managing Revenue Recognition (Rev Rec) and Revenue Adjustments within project configurations in AdaptiveWork. It enables accurate financial tracking, supports governance processes, and integrates easily with external systems to improve visibility into both forecasted and actual revenue performance.

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1. Time-Phased Data Enhancements

The solution adds the following fields to Time-Phased Data:

  • Recognized Forecast Revenue

  • Adjustment Budget Revenue

  • Adjustment Actual Revenue

These fields can be included in the Financial Planning View to provide a time-based view of both recognized revenue and any adjustments. The logic driving these fields is determined by the billing cycle scenario, defined in the related Fields and Formulas configuration. 

2. Support Across All Project Levels

The Rev Rec fields and logic are supported at:

  • Milestone

  • Task

  • Project

This ensures consistent revenue recognition tracking, regardless of how financial data is structured within your project hierarchy.

3. Project-Level Aggregated Fields

At the project level, the following fields are introduced to support fiscal year revenue planning:

  • FY Recognized Expected Revenue

  • FY Expected Adjustments

  • FY Actual Adjustments

These aggregated fields provide high-level visibility into how much revenue is expected to be recognized and adjusted over the course of the fiscal year.

4. Integration and Governance

To enable integration with other systems and enforce governance rules, the following configuration elements are added:

  • Financial Rev Rec Resource Links

  • Financial Adjustment Resource Links

These links facilitate automation, system integration, and consistent revenue handling across enterprise systems.

5. Automation and Data Management

The solution supports automatic creation and updates of Rev Rec and Adjustment Time-Phased Data via:

  • API

  • Business Rules

  • Configuration

  • Data Loader

This ensures that revenue data can be maintained efficiently and programmatically.

6. Versioning Support

The solution is compatible with project versioning. Revenue Recognition and Adjustment data are version-aware, allowing users to track and compare recognized revenue across different versions or snapshots of a project.

7. Phasing Configuration Enhancements

As part of the broader financial planning and forecasting framework, the solution also includes five new fields that are added to the Project entity. These fields help monitor the lifecycle and completeness of revenue recognition and adjustments.