How to Constrain Revenue in RevPro
Revenue contract term is 5 years for a total contract value of $5000. Our requirement is to contrain the revenue and recognition only a portion of the commited value. Commited value is worth 1 year ($1000) that should be taken on day 1, and the remaining value ($4000) should be recognized after commited term is over.
In this example, we will get a single SO line of total contract value of $5000 from 2018 to 2023. Our term for convinience date is 2019. As soon as the line gets absorbed into RevPro on 2018, 1yrs worth of contract value ($1000) should be recognized in 2018. Once we hit 2019, the remaining amount ($4000) must be released in 2019.
How can this be done in RevPro 22.214.171.124?
Re: How to Constrain Revenue in RevPro
This scenario depends on the Billing & POB which got applied to the line. If it is an Auto POB with partial billing, then yearly invoices with $1000 for each year with revenue dates as null will work; else, if it is full billing with event POB applied to the line, then the revenue can be scored as below.
First, please bring the revenue release event for $1000 with Rule Start Date & Rule End Date within 2018 (for example 1-Jan-2018 to 31-Dec-2018). Then for the remaining $4000 to be released in the next 4 years duration, please bring the revenue release event with the Rule Start Date in 2019 (e.g. 1-Jan-2019) and Rule End Date in 2022 (31-Dec-2022).
Hope this helps. For any further details you may need, please let us know the POB setup.
Kavi Nilavu K
If you found my answer helpful, please give me a kudo ↑
Help others find answers faster by accepting my post as a solution √