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AC: Does The Invoice Date Determine When Revenue Is Recorded?

The Invoice Date determines the period in which revenue is recorded. The default Due Date is calculated using the Invoice Date and the customer's credit terms. If the Invoice Date is changed, the Due Date is automatically recalculated. The Due Date cannot be earlier than the Invoice Date.

  • Sep 18, 2023
  • Knowledge

Title
AC: Does The Invoice Date Determine When Revenue Is Recorded?
URL Name
AC-Does-The-Invoice-Date-Determine-When-Revenue-Is-Recorded

Question
  • Does the Invoice Date determine when Revenue is recorded?
Product Area
Revenue Recognition Transactions
Environment
  • Certinia Accounting
  • Fall 2021 SP3
Answer
  • Yes, the Invoice Date does determine the period in which revenue is recorded
Additional Notes
  • The default Due Date is calculated using the Invoice Date and the Credit Terms on the customer Account. If these are not set, use the standard Credit Terms for the current company.
  • The Due Date can be amended, but it cannot be earlier than the Invoice Date.
  • If the Invoice Date or customer Account is amended, the Due Date is re-calculated automatically.
  • If the Invoice uses a payment schedule, this field shows the first Due Date from the payment schedule details.
Release Version
Professional Services CloudCustomer Success CloudFinancial Management CloudRevenue Management
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Knowledge:AC: Does The Invoice Date Determine When Revenue Is Recorded?