i have a little problem. Could Anyone explain to me in simple terms what revenue recognition is? what is the purpose of it in Compiere?
Thanks a lot,
Sometimes when u obtain revenue not so much for a simple product but lets say a service of project thats big substantial amount and has to be implemented over a long period lets say 12 months, thus u collect progress payments or even if its paid upfront doesn matter, as u like to realise the revenue in stages or periods. Thus u recognise the revenue over a different period and not on a certain period, either for tax purposes. Or just a flexibility in the business system, where u can take a sale and yet delay or split its entry into the books.
I bet the next person who explains this cannot be this simple. :)
thanks a lot red1.................... I knew i could rely on you to explain this..................:)
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