Revenue methods are formulas used for calculating revenue when you run Revenue Generation. After you consider a project's contract type and other factors, you specify a revenue method in the Project Info Center that accurately recognizes each project's revenue.
You specify a revenue method for each project whose
Charge Type is
Regular.
- When you set up Revenue Generation to track one unbilled account, you can choose from the six standard revenue methods. If none of these are appropriate for a project's billing or contract terms, you can create your own user-defined revenue methods.
- When you set up Revenue Generation to track multiple unbilled accounts with revenue categories, you must create a user-defined revenue method for each revenue category that you set up in Accounting Company Settings.
If you use the Multicompany feature, user-defined revenue methods that you set up here are used by all companies in your enterprise.
User-defined Revenue Methods
After you create a user-defined revenue method, the next time you open a project's Accounting tab in the Projects Info Center, the new revenue method appears in either the
Revenue Type drop-down list (if you track one unbilled account) or in the drop-down lists for the revenue category fields in the
Revenue Method section (if you track multiple unbilled accounts).
You can delete any user-defined revenue method as long as it is not currently referenced in any project info center record.