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You may manage Revenue differently depending on your local Accounting standards and your Revenue streams, whether that comes from Software Implementations or Professional Services and whether these are sold as Fixed Price or T&M. In Precursive you can define your Revenue Recognition Method of choice on the Phase level (Details tab).

Can I change a Phase Revenue Recognition Method?

You can easily change the selected method from the Details Page of a Phase up until the next Reporting Period is closed. When the next Reporting Period is closed, Actual Snapshots are generated and you will get the following error. To change method after a Reporting Period is closed, you have to first delete all the Snapshots of the actuals:

1. Navigate to the 'Related' tab of your Phase
2. Find the 'Snapshots' component and click on 'View All'
3. Use the drop down arrow on the right side of the lines with 'Actual' on the name to delete these records
4. Change the Revenue Recognition Method on the 'Details' tab of your Phase

To regenerate the 'Actuals' you have to un-close/reopen the latest Reporting Period and close it again. Please see How to Close a Reporting Period for more information.

Related Resource

Revenue Management Add-on 
How to Close a Reporting Period