When running revenue recognition, you may receive the following error - The revenue earned by date for this contract line item is before the last revenue recognition cut off date, or it is the same as the last revenue recognition cutoff date and there is revenue remaining to be recognized.
The solution to this is pretty easy. Go to your Engagement Contract Tab and set the earned by date further into the future.
The problem you are encountering is that the date when all your revenue is supposed to be earned by, is inside your revenue recognition date range. Check the following to confirm:
- You are recognizing less than 100% of revenue
- Your cutoff date is on or after your earned by date