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[IMP] accounting: add extra details and tips to Deferred Revenues documentation (#519)

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Jonathan 2020-01-09 16:52:03 +01:00 committed by Antoine Vandevenne (anv)
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accounting/receivables/customer_invoices/deferred_revenues.rst
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================= =================
Deferred Revenues Deferred Revenues
================= =================
**Deferred revenues**, or **unearned revenue**, are payments made in advance **Deferred revenues**, or **unearned revenue**, are payments made in advance by customers for
by customers for products yet to deliver or services yet to render. products yet to deliver or services yet to render.
Such payments are a **liability** for the company that receives Such payments are a **liability** for the company that receives them since it still owes its
them since it still owes its customers these products or services. customers these products or services. The company cannot report them on the current **Profit and
The company cannot report them on the current **Profit and Loss statement**, Loss statement**, or *Income Statement*, since the payments will be effectively earned in the future.
or *Income Statement*, since the payments will be effectively
earned in the future.
These future revenues must be deferred on the company's balance sheet These future revenues must be deferred on the company's balance sheet until the moment in time they
until the moment in time they can be **recognized**, at once or over a can be **recognized**, at once or over a defined period, on the Profit and Loss statement.
defined period, on the Profit and Loss statement.
For example, let's say we sell a five-year extended warranty for $ 350. For example, let's say we sell a five-year extended warranty for $ 350. We already receive the money
We already receive the money now but haven't earned it yet. Therefore, now but haven't earned it yet. Therefore, we post this new income in a deferred revenue account and
we post this new income in a deferred revenue account and decide to decide to recognize it on a yearly basis. Each year, for the next 5 years, $ 70 will be recognized
recognize it on a yearly basis. Each year, for the next 5 years, $ 70 as revenue.
will be recognized as revenue.
Odoo Accounting handles deferred revenues by spreading them in multiple Odoo Accounting handles deferred revenues by spreading them in multiple entries that are
entries that are automatically created periodically. automatically created in *draft mode* and then posted periodically.
.. note::
The server checks once a day if an entry must be posted. It might then take up to 24 hours before
you see a change from *draft* to *posted*.
Prerequisites Prerequisites
============= =============
Such transactions must be posted on a **Deferred Revenue Account** rather than
on the default income account. Such transactions must be posted on a **Deferred Revenue Account** rather than on the default income
account.
Configure a Deferred Revenue Account Configure a Deferred Revenue Account
------------------------------------ ------------------------------------
To configure your account in the **Chart of Accounts**,
go to :menuselection:`Accounting --> Configuration --> Chart of Accounts`, To configure your account in the **Chart of Accounts**, go to
click on *Create*, and fill out the form. :menuselection:`Accounting --> Configuration --> Chart of Accounts`, click on *Create*, and fill out
the form.
.. image:: media/deferred_revenues01.png .. image:: media/deferred_revenues01.png
:align: center :align: center
:alt: Configuration of a Deferred Revenue Account in Odoo Accounting :alt: Configuration of a Deferred Revenue Account in Odoo Accounting
.. note:: .. note::
This account's type must be either *Current Liabilities* or *Non-current This account's type must be either *Current Liabilities* or *Non-current Liabilities*
Liabilities*
Post an income to the right account Post an income to the right account
----------------------------------- -----------------------------------
Select the account on a draft invoice Select the account on a draft invoice
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
On a draft invoice, select the right account for all the products of which the
incomes must be deferred. On a draft invoice, select the right account for all the products of which the incomes must be
deferred.
.. image:: media/deferred_revenues02.png .. image:: media/deferred_revenues02.png
:align: center :align: center
@ -56,19 +58,21 @@ incomes must be deferred.
Choose a different Income Account for specific products Choose a different Income Account for specific products
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Start editing the product, go to the *Accounting* tab, select the right
**Income Account**, and save. Start editing the product, go to the *Accounting* tab, select the right **Income Account**, and
save.
.. image:: media/deferred_revenues03.png .. image:: media/deferred_revenues03.png
:align: center :align: center
:alt: Change of the Income Account for a product in Odoo :alt: Change of the Income Account for a product in Odoo
.. tip:: .. tip::
It is possible to automate the creation of revenue entries for these products It is possible to automate the creation of revenue entries for these products (see:
(see: `Automate the Deferred Revenues`_). `Automate the Deferred Revenues`_).
Change the account of a posted journal item Change the account of a posted journal item
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
To do so, open your Sales Journal by going to To do so, open your Sales Journal by going to
:menuselection:`Accounting --> Accounting --> Sales`, select the journal item you :menuselection:`Accounting --> Accounting --> Sales`, select the journal item you
want to modify, click on the account, and select the right one. want to modify, click on the account, and select the right one.
@ -77,29 +81,29 @@ want to modify, click on the account, and select the right one.
:align: center :align: center
:alt: Modification of a posted journal item's account in Odoo Accounting :alt: Modification of a posted journal item's account in Odoo Accounting
Deferred Revenues entries Deferred Revenues entries
========================= =========================
Create a new entry Create a new entry
------------------ ------------------
A **Deferred Revenues entry** automatically generates journal entries at
the right time until the full amount of the income is recognized.
To create a new entry, go to :menuselection:`Accounting --> Accounting --> Deferred A **Deferred Revenues entry** automatically generates all journal entries in *draft mode*. They are
Revenues`, click on *Create*, and fill out the form. then posted one by one at the right time until the full amount of the income is recognized.
Click on **select related purchases** to link an existing journal item to To create a new entry, go to :menuselection:`Accounting --> Accounting --> Deferred Revenues`, click
this new entry. Some fields are then automatically filled out, and the on *Create*, and fill out the form.
journal item is now listed under the **Related Sales** tab.
Click on **select related purchases** to link an existing journal item to this new entry. Some
fields are then automatically filled out, and the journal item is now listed under the **Related
Sales** tab.
.. image:: media/deferred_revenues05.png .. image:: media/deferred_revenues05.png
:align: center :align: center
:alt: Deferred Revenue entry in Odoo Accounting :alt: Deferred Revenue entry in Odoo Accounting
Once done, you can click on *Compute Revenue* (next to the *Confirm* Once done, you can click on *Compute Revenue* (next to the *Confirm* button) to generate all the
button) to generate all the values of the **Revenue Board**. This board values of the **Revenue Board**. This board shows you all the entries that Odoo will post to
shows you all the entries that Odoo will post to recognize your recognize your revenue, and at which date.
revenue, and at which date.
.. image:: media/deferred_revenues06.png .. image:: media/deferred_revenues06.png
:align: center :align: center
@ -107,56 +111,54 @@ revenue, and at which date.
What does "Prorata Temporis" mean? What does "Prorata Temporis" mean?
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
The **Prorata Temporis** feature is useful to recognize your revenue
the most accurately possible.
With this feature, the first entry on the Revenue Board is computed based The **Prorata Temporis** feature is useful to recognize your revenue the most accurately possible.
on the time left between the *Prorata Date* and the *First Recognition Date*
rather than the default amount of time between recognitions.
For example, the Revenue Board above has its first revenue with an amount of With this feature, the first entry on the Revenue Board is computed based on the time left between
$ 4.22 rather than $ 70.00. Consequently, the last entry is also lower and the *Prorata Date* and the *First Recognition Date* rather than the default amount of time between
has an amount of $ 65.78. recognitions.
For example, the Revenue Board above has its first revenue with an amount of $ 4.22 rather than
$ 70.00. Consequently, the last entry is also lower and has an amount of $ 65.78.
Deferred Entry from the Sales Journal Deferred Entry from the Sales Journal
------------------------------------- -------------------------------------
You can create a deferred entry from a specific journal item in your **Sales Journal**. You can create a deferred entry from a specific journal item in your **Sales Journal**.
To do so, open your Sales Journal by going to To do so, open your Sales Journal by going to
:menuselection:`Accounting --> Accounting --> Sales`, and select the journal item you :menuselection:`Accounting --> Accounting --> Sales`, and select the journal item you want to defer.
want to defer. Make sure that it is posted in the right account (see: `Change the Make sure that it is posted in the right account (see:
account of a posted journal item`_). `Change the account of a posted journal item`_).
Then, click on *Action*, select **Create Deferred Entry**, and fill out the form the Then, click on *Action*, select **Create Deferred Entry**, and fill out the form the same way you
same way you would do to `create a new entry`_. would do to `create a new entry`_.
.. image:: media/deferred_revenues07.png .. image:: media/deferred_revenues07.png
:align: center :align: center
:alt: Create Deferred Entry from a journal item in Odoo Accounting :alt: Create Deferred Entry from a journal item in Odoo Accounting
Deferred Revenue Models Deferred Revenue Models
======================= =======================
You can create **Deferred Revenue Models** to create your Deferred Revenue
entries faster.
To create a model, go to :menuselection:`Accounting --> Configuration --> Deferred You can create **Deferred Revenue Models** to create your Deferred Revenue entries faster.
Revenue Models`, click on *Create*, and fill out the form the same way you would
do to create a new entry. To create a model, go to :menuselection:`Accounting --> Configuration --> Deferred Revenue Models`,
click on *Create*, and fill out the form the same way you would do to create a new entry.
.. tip:: .. tip::
You can also convert a *confirmed Deferred Revenue entry* into a model by You can also convert a *confirmed Deferred Revenue entry* into a model by
opening it from :menuselection:`Accounting --> Accounting --> Deferred opening it from :menuselection:`Accounting --> Accounting --> Deferred
Revenues` and then, by clicking on the button **Save Model**. Revenues` and then, by clicking on the button *Save Model*.
Apply a Deferred Revenue Model to a new entry Apply a Deferred Revenue Model to a new entry
--------------------------------------------- ---------------------------------------------
When you create a new Deferred Revenue entry, fill out the **Deferred Revenue
Account** with the right recognition account.
New buttons with all the models linked to that account appear at the top of the form. When you create a new Deferred Revenue entry, fill out the **Deferred Revenue Account** with the
Clicking on a model button fills out the form according to that model. right recognition account.
New buttons with all the models linked to that account appear at the top of the form. Clicking on a
model button fills out the form according to that model.
.. image:: media/deferred_revenues08.png .. image:: media/deferred_revenues08.png
:align: center :align: center
@ -164,29 +166,27 @@ Clicking on a model button fills out the form according to that model.
Automate the Deferred Revenues Automate the Deferred Revenues
============================== ==============================
When you create or edit an account of which the type is either *Current Liabilities*
or *Non-current Liabilities*, you can configure it to defer the revenues that When you create or edit an account of which the type is either *Current Liabilities* or *Non-current
are credited on it automatically. Liabilities*, you can configure it to defer the revenues that are credited on it automatically.
You have three choices for the **Automate Deferred Revenue** field: You have three choices for the **Automate Deferred Revenue** field:
#. **No:** this is the default value. Nothing happens. #. **No:** this is the default value. Nothing happens.
#. **Create in draft:** whenever a transaction is posted on the account, a draft #. **Create in draft:** whenever a transaction is posted on the account, a draft *Deferred Revenues
*Deferred Revenues entry* is created, but not validated. You must first entry* is created, but not validated. You must first fill out the form in
fill out the form in :menuselection:`Accounting --> Accounting --> Deferred Revenues`. :menuselection:`Accounting --> Accounting --> Deferred Revenues`.
#. **Create and validate:** you must also select a Deferred Revenue Model #. **Create and validate:** you must also select a Deferred Revenue Model (see:
(see: `Deferred Revenue Models`_). Whenever a transaction is posted on `Deferred Revenue Models`_). Whenever a transaction is posted on the account, a *Deferred
the account, a *Deferred Revenues entry* is created and immediately Revenues entry* is created and immediately validated.
validated.
.. image:: media/deferred_revenues09.png .. image:: media/deferred_revenues09.png
:align: center :align: center
:alt: Automate Deferred Revenue on an account in Odoo Accounting :alt: Automate Deferred Revenue on an account in Odoo Accounting
.. tip:: .. tip::
You can, for example, select this account as the default **Income Account** You can, for example, select this account as the default **Income Account** of a product to fully
of a product to fully automate its sale completely. (see: `Choose a different automate its sale completely. (see: `Choose a different Income Account for specific products`_).
Income Account for specific products`_).
.. seealso:: .. seealso::
* :doc:`../../others/configuration/account_type` * :doc:`../../others/configuration/account_type`