Revenue Recognition Date Changes
Revenue Recognition Rule Setup:
Amount Source is Event Percent Based on Amount
Rev Rec Start Date Source is Revenue Element Start Date
Rev Rec End Date Source is Revenue Element End Date
End Date Change Impact is Update Remaining Periods Only
Recognition Method is SL by Even Periods
The Rev Rec Start Date and End Date in a Revenue Arrangement was set to 1/31/2025. We then recognized the revenue in full in Jan 2025.
In June 2025, we realized that the revenue was incorrectly recognized in Jan 2025. It is yet to be recognized in July 2025.
We then changed the Rev Rec Start Date and End Date to 7/31/2025 in the Revenue Arrangement. BUT, the Rev Rec Start Date in the related Revenue Plan is not updated, only the Rev Rec End Date. The field help says that the Rev Rec Start Date can't be edited once revenue has been recognized.
So it isn't reversing the revenue in June 2025 when we changed the dates in June 2025 since the full amount has been recognized and the End Date Change Impact is set to Update Remaining Periods Only.
So, is there a way to reverse revenue in June 2025 and recognize it in July 2025 without manually editing the revenue recognition plan table itself? What's the implications of editing the revenue recognition plan table? I noticed that even after triggering the Update Revenue Plans, the manually edited Revenue Plan table wasn't overriden (which is good for us).