When to Use Balanced Incurred vs Forecast instead of Incurred vs. Forecast
Balanced Incurred vs Forecast rule uses Internal Pivot Date when recognizing revenues. If an organization uses Accounting Dates this is a great option. For timesheets, the rule will recognize revenue for time entries until the current accounting date, otherwise it will recognize until yesterday.
If the Current Accounting Period is November 30, 2022, pending recognition for the week of 11/27 – 12/3 is broken down to only 11/27 – 11/30 dates.
If the Current Accounting Period is December 31, 2022, then pending recognition for the week of 11/27 will be for the full week.
Incurred vs Forecast rule will recognize all the approved time entries no matter what the current accounting period date.