Unbilled Revenue Report

Reports Menu -> Revenue -> Unbilled Revenue Report

Reports Menu -> Automatic Reporting -> Function RSXD16 -> runs Unbilled Revenue Report

This report can be used to identify and estimate any potential revenue earned on Contracts that has not yet been billed and on Invoices that are currently "On Hold".
An optional accrual journal entry can be generated for posting to the G/L.
The estimate of unbilled earned rental revenue if all open contracts were to be billed up to a cut-off point (usually month end), can be based on a choice of two formulas:

For example, if a contract had been previously billed to May 15th and the cut-off date was May 31st, the revenue from May 15th to May 31st would be calculated.
The report is an estimate only. It does NOT affect the contracts for future billing.

When the report is run for a date in advance, and using the P.O./Contract Accrual Report, it can be useful in giving a projection of month end performance at any point during the month.

The Unbilled Revenue Report can be setup to be run automatically with the results emailed to staff, by setting up RSXD16 with the relevant filters and email addresses in the Automatic Reporting.

Accrual Transaction feature:
Some firms accrue the unbilled revenue from their open contracts each month or at year end, in order to more accurately reflect the company's revenue position.
This report provides the option to automatically populate an Accrual Journal entry with the reported totals for rentals, sales, services, and damage waiver, that can then be posted using Post Standard Journals.
This processing is activated when an 'Accrual' type journal entry has been setup in Standard Journals and the journal number has been assigned for Unbilled Revenue Report Accrual Journal Entry Number in the Company Posting Parameters.
The 'Accrued Journal Entry' can be empty as the Unbilled Revenue Report will populate the transactions, replacing any transactions that may be previously have been entered.

Note: Currency exchange, and inventory exchanges, are not considered in the Accrued Journal.

If the journal is not generated automatically from the report output, the revenue amounts can still be manually recorded as an accrued journal entry and posted to the General Ledger.


Exclusions:
Certain Sales parts such as Fuel, and specific Rental products that are flagged in the Re-Order Information window in Sales Inventory, or in the Rental Information window in Rental Inventory never to cycle bill, are omitted from this revenue report, as they cannot be invoiced until the Contract is returned.

Rental revenue from Cylinder contracts created from Cylinder Entry is not considered in this report.

Any Power Kit components accompanying a Primary Non-Bulk Rental product on a Contract, are ignored in the revenue reporting as only the Primary products are ever invoiced.
For information on the Power Kit feature refer to Power Kits.

The report can be printed in summary or detail, includes or excludes revenue for sales products, and can be printed by division.
Selection filters for customer, site, contract, class and group are provided.
The summary breaks down the revenue totals by rentals, sales, damage waiver, services and taxes, and provides a grand total.
The detailed report provides an option to sort and print by "Bill To" or "Ship To" address and lists any Purchase Order# specified on the contract.

The rental amounts reflect any Rental Cap assigned to the product detail on the contract.

PREPARATION:
To accurately reflect the unbilled revenue for the month, confirm the following before printing the report:

The prompts to generate the report are:

BILLING DATE
Accept today's date or enter a preferred bill to date for the report.
This is the date for which the potential bill amount will be calculated for all open contracts.

Note: If rate changes have been made to products on a contract using the Update Contract Rental Pricing utility, and the report is being generated for a Billing Date prior to the effective date of the rate change, those products will be omitted from the report as related billing adjustments could not be made as of the old rate structure.


CUSTOMER, "ALL" OR "SEL"
Select one of the following options:
  • Type ALL to include all customers in the report.
  • To generate the report for a single customer enter the customer number or select one from the Accounting Customer Search window.
  • Type SEL to select a several specific customers for the report, as outlined in the Selected Customers window.

SITE #, "ALL" OR "SEL"
Select one of the following options:
  • Type ALL to include all Sites for the customers.
  • To generate the report for a specific Site, enter the Site number.
    • If the report is being generated for ALL Customers then only Global Sites can be selected in the window.
    • If the report is being generated for a single specific Customer the Site number for that customer can be selected from the Site Search window.
  • Type SEL to select specific Sites, as outlined in the Selected Sites window.

FROM CONTRACT #
Leave this field blank to include all Contracts, or type in the desired beginning Contract number, or select one from the Contract Search window.
TO CONTRACT #
Leave this field blank to include all Contracts, or type in the desired ending Contract number, or select one from the window.

Note: The Contract selection filter does not apply to the "On Hold" Invoices.


FROM PRODUCT CLASS
Leave this field blank for all Products Classes, or type in the desired beginning Product Class number, or select one from the Product Class Search window.
TO PRODUCT CLASS
Leave this field blank for all Products Classes, or type in the desired ending Product Class number, or select one from the window.

Note: In the Accrual Journal postings, the Class G/L Revenue accounts will respect any divisions setup to use "Revenue Posting by Tax Code".


FROM GROUP
Leave this field blank for all Products Groups, or type in the desired beginning group, or select one from the Group Search window.
TO GROUP
Leave this field blank for all Products Groups, or type in the desired ending group, or select one from the window.

DIVISION, "ALL" OR "SEL"
  • Type ALL to include all divisions in the report.
  • To print the report for a single division, leave this field blank for the Head Office Division, or enter a specific division code, or select a division from the drop-down list.
  • Type SEL to select several specific divisions or divisions by accounting region to include in the report, as outlined in Division Select By Region.

The division selection is restricted by the Divisional Restricted Views assigned to the operator when the report is generated from the menu.
Divisional restricted views do not apply when the report is generated from Automatic Reporting.


PRINT BY DIVISION
Check this box to sort the contracts on the report within division.
Uncheck this box to disregard divisions in sorting and printing the contracts. The division does print for each contract.

INCLUDE ON HOLD INVOICES
Check this box to include current invoices that have not been posted because they have been flagged "On Hold" in Hold/Release Current Invoices.
Uncheck this box to exclude any invoiced revenue on the report even if it has not been posted.

Note: These invoices may or may not have originated from a contract and the invoice resulting from a contract that is returned to a different store could have been created for a different Division.
When the invoice has a source contract, it is the Contract Out division that prints on the PDF output.
Both "Out Div" and document "Div" are included on the spreadsheet output.
If an Accrual Journal is generated, the rental and sales revenue is reported as of the Contract Division OUT and the Services and DW revenue is reported as of the Invoice Division which was the Contract Division IN.


SELL SALES ITEMS
Check this box to include sales parts and rentals on the report.
Uncheck this box to exclude sales, and to print only rental equipment on the report.

PRINT CLASS TOTAL ONLY
Check this box to print only revenue totals per Product Class.

Uncheck this box if Product Class totals are not required on the report.

Note: Because these Product Class Totals do not include any damage waiver, services, or taxes that may also be on the contracts, the feature to populate an accrued journal entry is not provided if only the Class totals are printed.


SORT BY
Select one of the following sort options:
  • Select Bill To Name to sort and print the contracts by billing name on the detailed report.
  • Select Ship To Name to sort and print the contracts by Shipping name on the detailed report.

REPORT TYPE
Select one of the following reporting options:
  • Select Summary to print only the Summarized report totals for Rental Revenue, Sales Revenue, Damage Waiver, Services, Taxes, and Grand Totals by division.

  • Select Detail to generate the Detailed report.
    The detailed output lists each Contract or Invoice with the document number separately, with the billing amounts for each outstanding item in the range. The product detail shows each product # and description, rental or sale, quantity, unit price, net price and extended amount. The detailed report can print the contracts according to the division.
    The rental amounts reflect any maximum Rental Cap assigned to the product detail on the contract.
    The spreadsheet output also exports the 'Billed Thru' date as explained below and the optional G/L Revenue Accounts.
    The 'Date Out' does not apply to Invoices.

    Billed Thru Date:

    • Out: status (O) on Contract will have a ‘Billed Thru' date of the report “Billing Date” to reflect the potential revenue to this date less the "Accum Inv Amount"
    • Off Rent: status (F) on Contract will show a ‘Billed Thru’ date of the “Off Rental Date” as there will be no more revenue since then
    • Returned: status (R) will show a ‘Billed Thru’ date as of the “Rental Return” date as no more revenue is calculated

PRINT FULL ADDRESS
Uncheck this box if the contract address is not required on the report.
Check this box to print the contract "Bill To" or the "Ship To" address on the detailed report, according to the Sort By choice.

ACCRUED JOURNAL ENTRY
This option is disabled if only the Class totals are being printed, or if the operator does not have security access to create Standard Journals transactions.

This feature is activated if an Accrued Journal Entry number has been assigned for Unbilled Revenue reporting in the Company Posting Parameters.
The Journal transaction assigned can be empty as the report will populate the transactions with accounts, divisions and amounts, however if it is not empty as it had already been populated by a prior run, any existing transactions will be over-written.
The prompts are:

CREATE ACCRUAL JOURNAL ENTRY
Uncheck this box to prevent an Accrual Journal entry record from being created using the totals from this report.

Check this box to automatically populate an Accrual Journal entry and reversing entry with the reported totals for rentals, sales, services, and damage waiver.

ACCRUED REVENUE G/L ACCOUNT
If an Accrual Journal is to be created for the unbilled revenue, enter the 'holding' G/L account number to be used to balance the revenue postings in the Accrual Journal entry, or select one from the window.

When an Accrual Journal is generated for an Invoice that was created from a Contract and the Invoice Division is different from the Contract Out Division, all rental and sales revenue is reported as of the Contract Division OUT and all Services and DW revenue is reported as of the Contract Division IN which has become the Invoice division.

If the operator has security access to the Standard Journals programs, the accrual transactions are displayed after the report has been accepted.

Note: Any existing unposted journal details in the Accrual Journal entry will be deleted, and will be replaced with the values based on this report.


RATE STRUCTURE TO USE
This field will default to the selection last run by the operator.
Select one of the following formulas on which to base the unbilled rental revenue calculation:
  • Select Current to estimate the earned billings using the exact rate structure defined for each rental product on each contract.
    The resulting revenue reflects that value that would be billed if the contract was returned as of the cut-off date, so refer to Rental Return for rental revenue calculation details.

    Note: This formula is the default that still applies to non-conforming products when the Monthly formula is selected.

  • Select Monthly to use the more conservative formula on eligible rental products, which is based on the monthly rate.
    i.e. Monthly Rate / 28 Days * bill days
    This formula generates a zero revenue value for rentals pre-billed past the cut-off date of the report.

    Calculation Requirements for determining 'Monthly' Rental Revenue:
    When the Monthly formula is selected, any rental products that are configured to meet the "Monthly" criteria rules and requirements will reflect unbilled revenue based on the Monthly formula.
    Any rental products that do NOT meet the "Monthly" criteria rules and requirements will reflect unbilled revenue based on the default Current formula. This would include rental items with a negative quantity, and items without a monthly rate in the rate structure on the contract.

    The "Monthly" criteria rules and requirements include:

    • Contract must have a positive rental quantity.
    • Rental product detail must have a Rate Code in the Contract rate structure that has the same 'Hours' as the Hours In A Month defined in the Calendar.
    • If the accumulated billings is more than the calculated billing the system will report $0.00 and not credit anything back.
    • The Monthly billing method will not charge more than the monthly rate per month.
      i.e. If a detail is already partially billed for the month (possibly at a higher daily rate), the unbilled revenue will not exceed monthly rate.
    • All rental products on a Contract that has been flagged for Seasonal billing, where the "Rental Rate Code" assigned in the document Rental Period window matches the Seasonal Rate code defined in the Company Rates Parameters, will always use the Current calculation.
    • Rental Cap processing is respected.

    Note: The unbilled amounts for associated Damage Waiver, any Services as a percent of rental, and Taxes will also be impacted by the formula selected, as they are based on a percent of the rental revenue value.


REPORT OPTIONS
This value defaults to the operator preference as defined in Operators.
Select one of the output options to Print a report or export the data to Excel as outlined in Report Options.

INCLUDE REVENUE G/L ACCOUNT
This option is only available for the "Detailed" output with the Excel spreadsheet format where additional columns can be added.

Leave this field blank to exclude the G/L Account column.
Check this box to include the 'G/L Account' with 'Description' columns for the potential Revenue.


Finished?
A printer can be confirmed or re-selected from the Printer option located on the menu bar at the top of the screen.

Click ACCEPT to begin printing the report, or CANCEL to abort.

G/L Standard Journal Entry:
If an Accrued Journal Entry has been created and the operator has security access to the Standard Journal programs, the journal details are displayed as outlined in Standard G/L Journals.
The journal can be dated and posted to the G/L using Post Standard G/L Journals.

Note: If the report is re-run and another Accrued Journal entry is created before an earlier journal is posted, the earlier transactions will be over-written by the subsequent ones without ever being posted.

Topic Keyword: RSXD16
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