Staff can create a deferred revenue method to control when revenue is recognized by your association. A deferred revenue method records revenue in a deferred GL account until the recognition date occurs.
In the tab bar, click , or in Salesforce Classic, click.
- Click Deferred Revenue Methods.
- Click New.
Record Type of new record, select the option that matches the type of revenue you are deferring.
When setting a product to be deferred, you can only use deferred revenue methods for that product type. For example, you cannot use a membership deferred revenue method with a registration product.
- Click Continue.
Deferred Revenue Method Name, enter a name that is easily searched when assigning the deferred revenue method to a product.
Deferred Revenue GL Account, enter the GL account used to track the deferred revenue, click , and select the GL account.
- If you are creating a deferred revenue methodfor a standard membership, subscription, or event, you can leave the
Deferred Schedule Calculator Classblank. If the deferred revenue method will not use standard functionality, a custom Apex class, may be entered.
- If the deferred revenue method is for membership products, or subscription products, in
Membership Recognition, select:
Straightline—Revenue recognizes an equal portion each month of the membership or subscription term. If the term is 12 months, each month will recognize one-twelfth of the revenue.
All On Start Date—All revenue recognizes on the membership or subscription start date.
- If the deferred revenue method is for registration products, in
Event Recognition, select
End Date—Revenue recognizes on the last day of the event.
Event End Month—Revenue recognizes on the first day of the month on which the event ends.
Event Start Month—Revenue recognizes on the first day of the month on which the event begins.
Start Date—Revenue recognizes on the first day of the event.
X Days From Start Date—Revenue recognizes a set number of days before or after the first day of the event.
If the deferred revenue methodis for registration products, and
X Days From Start Date, in
Days From Event Start Date, enter the number of days before, or after, the first day of the event to recognize the income.
If you want to recognize the income 30 days before the first day of the event, enter
If you want to recognize the income 15 days after the first day of the event, enter
- Click Save.