Happy Business Starts Here

Zuora Documentation

How can I switch from monthly close process to quarterly close process?

Question:

Previously, the period-close process is performed monthly. How can I change it to the quarterly period-close process?

1 REPLY 1
Highlighted
Zuora Documentation

Re: How can I switch from monthly close process to quarterly close process?

Solution:

Suppose the current open period is Dec-18 and the next period to be opened is Mar-19. You must first close the current open monthly period and then run some programs to open the next quarterly period.

  1. To prepare to close an open period, ensure the prerequisite activities are completed. For example, If there are any unposted transactions for the period, run the RevPro3.0 Transfer Accounting program.
    For more complete descriptions of prerequisite activities before you can initiate the period-close process, see Prerequisite Activities.
  2. Close the current open period (e.g. Dec-18) by completing the period-close activities required by your company. The required period-close activities might vary based on business needs. The following lists a simple workflow as an example:
    1. Run the RevPro3.0 Netting Process program.
    2. Run the RevPro3.0 Current Period Post Summarize Data program.
    3. Complete report reconciliation.
    4. Run the RevPro3.0 Reporting Current Period Close program.

    For more information about recommended period-close activities, see Period-close Activities.
  3. Open the next quarterly period (e.g. Mar-19) after the following programs are run:
    • RevPro3.0 Reporting Period Open program
    • RevPro3.0 Move Previous Schedules to Current Open Period
    • RevPro3.0 Current Period Post Summarize Data

All revenue schedules are moved to the Mar-19 period.

 

If you think this post is helpful, please click Kudos below.