It’s possible for the information on a transaction to become inaccurate for revenue recognition purposes. This can happen for a number of reasons, such as human error or evolving terms of a sale. The transaction override feature allows you to make corrections, regardless of when you created the transaction.
Creating a transaction override
You can find the transaction overrides section at the bottom of the Revenue Recognition page.
How transaction overrides work
You can create transaction overrides for transactions that occurred in both past accounting periods and in the current accounting period. If the transaction occurred in a past accounting period, corrections are implemented prospectively at the end of the current accounting period. You can view these corrections in the reports for the current period after it closes.
If the overridden transaction occurred in the current accounting period, it’s not reflected as a correction in the current period. Instead, it’s recognized using the new attributes from the override.
Creating a transaction override doesn’t alter the attributes of the transaction model being overridden.
You can make changes to a transaction override by deleting the override and creating a new one. If you delete an override that impacts transactions in closed accounting periods, the first open accounting period will reflect the effect of the deletion. If the deleted override impacts transactions in open accounting periods, the effect applies directly to those accounting periods.