Set up the recognition process - overview

To set up the process of the revenue or expense recognition in Visma Net, you first need to configure the required deferral codes in the Deferred revenue workspace in the Deferral codes (DR202000) window.

• For each deferral code, define such settings as the recognition method to be applied, general ledger accounts to be used, and schedule settings.

• Assign a deferral code to the applicable items, or add the code to the required line of a document that requires deferrals.

• On release of documents with deferral codes specified, the system generates recognition transactions in accordance with the schedules defined by the deferral codes.

• To make the system release and post recognition transactions that come due, run the recognition process in the Run recognition (DR501000) window, so that the transactions are posted in each specified period and a portion of the revenue or expenses is recognised.