Strengthen your Zuora foundation with best practice checklists from the Community, Knowledge Center, and Self Service Solutions so that you can confidently use Zuora. This checklist focuses on the Redistributing Revenue Using Mass Updater.
What is Billing Revenue Recognition?
If you have Z-Billing Revenue Recognition enabled (not Zuora Revenue) this process will help you redistribute revenue before you close out your books for the year. Billing Rev Recognition will generate an Revenue schedule at the time of invoice creation.
GOAL: For all transactions for the affected term are updated to reflect the revenue redistribution
STEP 1: Create new revenue rules (If applicable)
Make sure you add your new Revenue Rules in your Finance Settings:
STEP 2: Update product catalog rate plan charges for affected charges
In your Product Catalog, make sure to update the revenue rule in the Product Catalog Rate plan charge. No amendment is needed for New and existing subscriptions for this update.
STEP 3: Cancel all posted journal runs for the affected term
Click into Journal Runs, locate your specific Journal runs with the accounting period you are going to update and cancel the journal run.Note: Once the Journal run is cancelled in Zuora, be sure to make the same changes in your GL.
STEP 4: Re-open accounting periods for the affected term
STEP 5: Use Finance Mass Updater tool to redistribute revenue
STEP 6: Close the accounting periods one at a time
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