Revenue earned by date is before cutoff date
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 to later than your cutoff date.
The earned by date is when you are supposed to have reached 100% revenue recognition. Projector complains because your revenue recognition end date is later than this. Or in other words, "how can you be earning revenue in January when you were supposed to be done in December?"