Revenue recognition criteria

Is there any option to change revenue recognition criteria based on "Invoice date" instead of the "Payment receive date"?

Hi Lalindu,

Unfortunately, it is not possible. Because there may be revenues not attached to an Invoice therefore it is not available.

Isn't it possible to set the "Invoice date" as the default date only for the revenue recognition date when we record a payment against an invoice from "Get paid" option?

Assume that I'm receiving payment for an invoice raised in 02nd January 2021, on 30th June 2021, Since the service was provided on 02nd January 2021, it should be a revenue for January month 2021. As currently when we select "ad payement" , its take payement received date as a revenue recognition date(Cash Basis). However, the cash receive date should not be the revenue recognition date when we using accrual basis to recognize the revenue.

at least there should be 2 days to select one as "Payment receive date" and "Revenue Recognition Date".

Any solution?

Correction: at least there should be 2 dates to select one as "Payment receive date" and another as "Revenue Recognition Date".

Thank you for your feedbacks Lalindu we appreciate it and forwarded them to the development team to evaluate.

Regards,