Manage my timesheet and event-based revenue recognition in SAP
After having managed to plan a customer project , let’s review time recording in the manage my timesheet app, which is the prerequisite for an event based recognition functionality in SAP S/4HANA Cloud.
FIORI timesheet app Manage my timesheet
The FIORI timesheet app manage my timesheet is where it is possible to record the time spend on a specific project.
Open the SAP FIORI application manage my timesheet , which is the FIORI timesheet app corresponding to the former SAP transaction codes CAT2 Time Sheet: Maintain Times and CATS Cross-Application Time.
Go to the calendar, and enter the time worked on the project in hours for the FIORI timesheet, save and submit the change.
Event based revenue recognition SAP FIORI application
Let’s now open the SAP FIORI application revenue recognition (event based), which the application for the SAP event based revenue recognition in SAP Cloud.
If you are still in the FIORI timesheet app, click on the home icon on the top left corner of the SAP FIORI interface to go back to the list of FIORI apps, and open the SAP event based revenue recognition application.
Use the search filters to find your project, for example by selecting the display currency EUR for Euros, and by enter a to fiscal year period corresponding to the current fiscal year period, such as current month number followed by current year.
You can also add account principle filter and company code filter to facilitate the project search, and continue by clicking on the GO button.
Analyze event base revenue recognition
You should now be able to find your project in the project definition list, and if not, change the search criteria until you can find it.Once the project has been found, click on the superior icon at the end of the project line to open the event based revenue revenue recognition SAP details.
There are three main areas of an event based revenue recognition in SAP:
- Actual, which contains actual revenue and cost posted during the recorded time,
- Adjustments, in which the revenue adjustment and the COS adjustment are displayed. They are calculated by the event based revenue recognition SAP program, in reference to the actual cost, and depends onthe contract that has been applied to the work package, such as fixed price for example,
- Recognized, where the recognized revenue, recognized COS, minimal accrual, and recognized margin. These values are in accordance to the combined actual cost and revenue from postings, and the eventual adjustements.
What is SAP COS and SAP COS adjustment?
SAP COS: Cost Of Sales
The SAP COS stands for Cost of Sales.
In corresponding screens, SAP COS is simply referred to as COS, for Cost Of Sales. It is sometimes used with other terms, such as COS adjustment or recognized COS.