Revenue Recognition for Project Base Services with Report Analytics
I am writing this blog to assist especially new Key Users who are creating or trying to get better understand how to run Revenue Recognition for Project Base Services with Report Analytics. Basic Idea is to share a very general information related to this blog is to provide bit more comprehensive and technical information that can be helpful for this topic.
What is Project:
An activity conducted to complete everyday tasks cannot be regarded as a project because a project is an activity to meet the creation of a goods or services. This indicates that the project proceeds step by step.
What is Sales Order:
A sales order is a legal document that is issued between customer and seller. It confirms the exchange of products or services and specifies the transaction’s particulars, such as the volume, cost, and standard of the delivered items or services. A sale order often includes details of the customer, shipping address, date of the transaction, products ordered, descriptions, quantities, pricing and taxes etc.
Why Report Analysis is Necessary:
The business decisions are based on reports and analytical evaluation that address relevant business problems and issues. Business reporting provides valuable information that is essential to the purpose poses significant questions. Analyzing reports helps you to identifying the problematic areas and prevent future problems.
1. Process Flow:
Navigate To Sales Order View WorkCentre > Go to New Sales Order View > Add Products for Sales Order > Click on Create Projects View > Select One Task for Each Item in Project Structure > Select Responsible Person > Select Responsible Unit > Click Ok and Release the Sales Order > Note Down the Sales Order ID And Project ID
Navigate To Project Management WorkCentre > Go to Project View > Select Project ID Created in Sales Order > Click on Edit to Edit the Project > Click on Project Plan and Edit the Project Tasks and Mile Stones in Gant Chart > Add Relevant Data in Reverent Fields > Select Release as Project Status in Basic Data Tab
Navigate To Cost and Revenue WorkCentre > Go to Project View > Select Project ID Created in Sales Order to View Project > Click on Reports Views and Select Report List > Select Report Project Cost and Revenue Details by Project > Check the Report > Click on Table and Chart to View the Report with Charts
There are many ways and techniques to view your reports in SAP Bydesign.
I have tried to explain the process flow of Revenue Recognition for Project Base Services with Report Analytics in simple terms. It may be helpful for those who want to understand the basic and advanced process in SAP Business ByDesign.
Looking forward to hearing your ideas and comments.