The following new features have been introduced in the Summer 2022 release of FinancialForce Revenue Management.
Dependencies on Other FinancialForce Packages
Revenue Management Summer 2022 requires the following FinancialForce package to be installed:
- FinancialForce Foundations Summer 2022.
You must install this package before installing or upgrading to Revenue Management Summer 2022.
Revenue Schedules
The following sections explain the functionality that has been added for generating revenue schedules, and recognizing revenue against revenue schedules.
If you are upgrading, you must enable the feature Upgrade to Summer 2022 in Feature Console. For more information, see Upgrading to Revenue Management Summer 2022.
Recognizing Revenue against Revenue Schedules
From Summer 2022, you can continue to recognize revenue against source records (sometimes known as Actuals) or you can switch to recognizing revenue against revenue schedules. You cannot recognize revenue using both processes at the same time. If you configure Revenue Management to recognize revenue against revenue schedules, you can still revert to recognizing revenue against source records by following the instructions in
For information about recognizing revenue against revenue schedules and how to configure it, see About Recognizing Revenue against Revenue Schedules.
For important information about permissions and sharing, see Permissions and Sharing when Working with Revenue Schedules.
% Complete Templates
You can now generate revenue schedules for source records using % Complete templates.
A revenue schedule line is generated for each incremental difference in a source record's % complete. For example, if you mark a source record as 10% complete in its first period and 25% complete in its second period, the revenue schedule line for Period 1 will be for 10% of the source record's value and the revenue schedule line for Period 2 will be for 15%.
The revenue schedule lines are generated with the status "Recognizable", meaning that they are available for revenue recognition.
Deliverable Templates
If you have source records using "Deliverable" templates, you must mark them as completed (delivered) to make them available for revenue recognition.
- When a source record is not marked as completed, its revenue schedule line is generated with the recognition status "Pending", meaning that it is not available for revenue recognition.
- When a source record is marked as completed, its revenue schedule line is generated with the recognition status "Recognizable", meaning that it is available for revenue recognition.
Opening Balances
Revenue Management now treats an existing Recognized to Date Value on a source record as its opening balance when revenue schedules are first generated for the source record. A revenue schedule line with the status "Opening Balance" is generated for this value. These "Opening Balance" revenue schedule lines are not included in revenue recognition because their revenue has already been recognized.
This means that if you want to migrate from recognizing revenue against source records to recognizing revenue against revenue schedules, your existing Recognized to Date Values are accounted for when revenue schedules are generated.
If you are migrating to Revenue Management from a third-party application, you can transfer opening balances by populating a source record's Recognized to Date Value with its opening balance amount. A revenue schedule line with the status "Opening Balance" will then be generated for that amount.
Changes to Recognition Status on Revenue Schedule Lines
Values in the Recognition Status picklist on the Revenue Schedule Line object have been updated for the new functionality in this release.
- The "Opening Balance" status has been added. It indicates that a revenue schedule line represents an opening balance value.
- The "Recognizable" status has been added. It indicates that a revenue schedule line is available for revenue recognition.
- The "Pending" status is now used to indicate that a revenue schedule line is not yet available for revenue recognition. Typically this status applies when the source record uses a Deliverable template and the item is not yet marked as completed.
Alert Cards for Pending Revenue and Unscheduled Revenue
Alert cards have been added to the Revenue Recognition Home Page to show:
- The amount of scheduled revenue that is "Pending" in a specific period, or in all periods up to a specific period. This gives you visibility of the value of source records using Deliverable recognition that have not been marked as completed.
- The amount of unscheduled revenue for source records using % Complete recognition. For example, if a source record's total revenue is 1000 and 10% has been scheduled, 900 is unscheduled and is included in the amount shown on this card.
Integrating Revenue Management and FinancialForce Accounting
If you use both Revenue Management and FinancialForce Accounting, you can integrate them using the Enabling Revenue Recognition for FFA feature in Feature Console. By enabling the feature, your org is configured with a standard integration that lets you recognize revenue and generate revenue schedules for sales invoices and sales credit notes. The status of a sales invoice or sales credit note must be "Complete" before its line items are included in revenue recognition.
For information about enabling the feature, see Enabling Revenue Recognition for FinancialForce Accounting.
Modifications to the RRT to Journal Integration for Cost
The RRT to Journal Integration for Cost has been modified to fix an issue where Accounting journals for cost amounts were created with the wrong sign.
Previously the integration mapped the cost value from the Journal Amount Amortized field (ffrr__JournalAmortizedAmount__c) on a revenue recognition transaction line, or on a revenue transaction summary when creating summarized journals. Now the integration maps the cost value from the Amount Amortized field (ffrr__AmountAmortized__c).
See “Upgrade Information" for detailed information about the changes, and what to do if you have been using a workaround.
Discarding Transactions Linked to Accounting Journals
Validation has been added to ensure that when a revenue recognition transaction is linked to an Accounting journal, you can only discard the revenue recognition transaction if the Accounting journal has been discarded, canceled, or reversed.
Invoking Recognize All via the API
You can now automate recognizing revenue for all currencies and all revenue streams by invoking the Recognize All process via the API.
Pass configuration parameters to the ffrr.RevenueRecognitionService.recognize method to specify:
- The recognition date
- The currencies to be recognized
- Whether revenue recognition transactions are created as "In Progress" or "Committed".
Validation will prevent the process from starting if it is already running.
For more information about Recognize All, see About Recognize All.
For information about where to find the Revenue Management API documentation, see Permission Sets and Other Technical Documentation.
Fixes
Fixes are now listed on the Known Issues page of the FinancialForce Community. You can access this page from the Release Hub menu. For a brief description of the issues that have been fixed in this version of Revenue Management, see the related section of the Known Issues page.