Revenue Recognition
Use Revenue Recognition to associate registration revenue with various departments, organizations, or legal entities, within or outside of your company. Each revenue center allows you to have a different ecommerce account for each individual entity within your company. Using Revenue Centers with ecommerce accounts allows you to have multiple ecommerce accounts for each currency.
Example: Global World, the parent company of OnPoint Communications is made up of four separate legal entities which act like individual companies. OnPoint Communications is one of the legal entities in Global World. Each of the four legal entities uses the same LTO instance to manage their training courses. When an attendee registers and pays for a course, the registration revenue needs to be associated with the correct legal entity.
The Global World LTO admin defines a Revenue Center for each of the legal entities. Each of the legal entities has their own ecommerce account assigned to their Revenue Center. The admin then assigns the various Business Units to the corresponding Revenue Center. OnPoint has four departments: Mobile Devices, Back-End Systems, Voice over IP, and Communications Management Systems that are represented by Business Units. These Business Units are assigned to the OnPoint Revenue Center. Each Business Unit is also tied to an OnPoint course.
When an attendee registers and pays for the OnPoint course, OnPoint Communication Solutions for Mobile Devices, the registration is associated to the Mobile Devices Business Unit and the registration fees are passed to the OnPoint Revenue Center.
Enabling Revenue Centers
Before you can begin to create Revenue Centers, you must enable this feature.
CAUTION: Once you enable the Revenue Centers feature it cannot be disabled.
To enable the revenue center feature:
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Choose Administration Menu->Global Information.
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Check the option box, Define Multiple Revenue Centers.
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Click Ok in the warning dialog box.
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Click Save.
Adding Revenue Centers
When the Revenue Centers feature is enabled, the Revenue Centers tab is added to Global Information screen. Use this tab to add your revenue centers to the LTO system.
NOTE: A default revenue center is added to your company when you use either Business Units or Revenue Centers.
To add a revenue center:
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Choose Administration Menu->Global Information.
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Click on the Revenue Centers tab.
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Enter a name for the Revenue Center.
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Enter an Accounting Code, if needed.
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Enter a Description, if needed.
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Select the desired Business Unit in the Available column in the business unit section. Use CTRL + click to select multiple groups.
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Click the black left arrow to move the selected business units to the Selected column.
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Click Save
NOTE: Repeat as needed for other Revenue Centers.
NOTE: Each Business Unit can belong to only one Revenue Center. If you add a business unit that is already assigned to revenue center to a new revenue center, the business unit will be moved from the previous Revenue Center to the new one.
Ecommerce Accounts
Each Revenue Center can have its own ecommerce account to ensure the registration revenue is sent to the correct account. This also allows you to have multiple ecommerce accounts per currency. The Revenue Center needs to be defined before you assign the ecommerce account to it.
To assign an ecommerce account to a revenue center:
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Choose Extras Menu->E-Commerce Accounts.
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Create a new ecommerce account or search for and open an existing one.
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Select the Revenue Center from the pull-down.
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Click Save.