Revenue recognition calculation based on Milestones

Pharmaceutical and Life Sciences companies have special project contracts where revenue is recognized in predefined date intervals and ratios. For supporting this kind of project accounting, the Estimation schedule form is available to set the date intervals and percentages for the calculation. On the form, the user can specify within a project start and end date, the separate intervals with the percentage of the contract value to be recognized within that certain period. The Period based revenue recognition feature calculates the daily amounts to be recognized in the corresponding estimation period based on the data entered in the table.