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Revenue recognition

Hi,

Using the API https://rest.zuora.com/v1/action/subscribe  I performed the following in a single call,

  • Created an account
  • Created contact
  • Created CC payment method
  • Created an invoice for the subscription
  • Applied the first payment to a subscription

If I look at the revenue schedule, the colled amount (excluding taxes) is going under 'Unrecognized Revenue'. 

 

Even in the other scenarios the same is happening. Is there any configuration to set to make the revenue to be recognized?

 

While creating the product rate plans, I configured the following

Revenue Recognition Rule: Recognize upon invoicing

Recognized revenue: Subscription Revenue

 

Revenue_Capture.PNG

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6 REPLIES 6
Zuora Staff

Re: Revenue recognition

Hello,

 

Have you created your accounting periods? One of the main reasons the amount will be placed in undistributed is because the accounting periods are not created. Once they are created, you can then click into Accounting Periods link, next click on the link on the right colum, under the actions label, click on the link Distribute revenue from Open-Ended accounting period, this will distribute the undistributed amounts...

 

Please let me know if this works for you or if you have additional questions.

 

Thank you!

Monique



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Re: Revenue recognition

@monique Thank You. I could see many accounting periods (month wise until 2018) created under Finance - Accounting Periods.

 

How does these are going to help me? During the rateplan charges create, I have mentioned to capture the revenuw under 'Subscription Revenue'. Where can I verify this?

 

Is this the manual task everytime to distribute the revenue?

 

 

Thank You!

Zuora Staff

Re: Revenue recognition

Hi,
Could you please private message me with your tenant # and subscription/invoice with the revenue schedule?

Thank you,
Monique


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Re: Revenue recognition

@monique Did you get a chance to look at my request?

Zuora Staff

Re: Revenue recognition

Yes I am still reviewing your request you sent over. I will update you shortly.



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Zuora Staff

Re: Revenue recognition

 I have updated you in the private message.



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