New Features and Enhancements in Revenue Management Winter 2023
The following new features have been introduced in the Winter 2023 release of Revenue Management.
If you are upgrading from a previous version, see Upgrading to Revenue Management Winter 2023. This provides a summary of the items that have been added for each feature and details of any required upgrade steps.
Dependencies on Other FinancialForce Packages
Revenue Management Winter 2023 requires the following FinancialForce package to be installed:
- FinancialForce Foundations Winter 2023.
You must install this package before installing or upgrading to Revenue Management Winter 2023.
Revenue Schedules Support Home and Dual currencies
Revenue schedules now support home and dual currencies. If the settings records for your source records include mappings for Home Currency, Document Rate, Dual Currency, Dual Rate, when you recognize revenue against revenue schedules, amounts in home and dual currency are now populated on the resulting revenue recognition transaction lines.
Revenue Schedules Support Cost Amortization
Revenue schedules now support cost amortization. If Revenue Management is set up for cost amortization, cost amounts are scheduled and amortized in the same way that revenue amounts are scheduled and recognized.
On the Revenue Recognition page:
- The alert cards can all be configured to report on cost instead of revenue.
- The Revenue Summary grid displays both revenue and cost amounts.
Bulk Generate Revenue Schedules Defaults to Synchronize
The process to bulk generate revenue schedules now runs the synchronize process instead of the generate process. The difference between generate and synchronize is that in addition to generating revenue schedules, synchronize also removes obsolete revenue schedules by deleting any where the source record is unavailable. This ensures that obsolete revenue schedules do not accumulate and affect your data.
If you are upgrading and want to revert to the previous behavior, see Upgrading to Revenue Management Winter 2023. However you will then need to run the Delete Schedules Where Source Unavailable process manually to ensure that obsolete revenue schedules do not accumulate.
Deleting Obsolete Revenue Schedules
Obsolete revenue schedules are deleted automatically by the bulk synchronize process. However if your org is configured to disable this automatic deletion, you will need to delete them by running a process from the Revenue Management Task Launcher.
The Delete Schedules Where Source Unavailable process deletes revenue schedules where the source record is no longer available. A source record can be unavailable for any of the following reasons:
- The source record has been deleted.
- The source record is no longer marked as active for revenue recognition.
- The source record has had its recognition template removed.
You can include the RM Source Unavailable Summary Alert Card on the Revenue Recognition page to keep track of the number of revenue schedules where the source record is unavailable, and the amount of revenue that is recognized against these schedules. You will need to review these revenue schedules and take corrective action if necessary.
For more information, see Deleting Obsolete Revenue Schedules.
Placing Revenue Schedules On Hold
You can configure Revenue Management so that a revenue schedule is placed on hold if its associated source record is placed on hold. The revenue schedule is then excluded from revenue recognition until its "On Hold" status changes.
For information about how to configure Revenue Management to support this, see Excluding Revenue Schedules from Revenue Recognition.
You can include the RM Schedule On Hold Summary Alert Card on the Revenue Recognition page to keep track of the amount of revenue currently on hold.
Filtering Revenue Schedules for Recognition
When recognizing revenue from the Revenue Recognition page, you can recognize all the revenue displayed in the Revenue Summary grid or you can filter that data to only recognize revenue for specific companies, currencies, accounts, products, or revenue streams. Only revenue schedule lines that match all your filters will be recognized.
For more information, see Recognizing Revenue against Revenue Schedules.
End-to-End Automation
The RevenueScheduleAutomationService is a global API that allows you to automate the end-to-end process for recognizing revenue against revenue schedules, from generating the schedules through to creating FinancialForce Accounting journals.
The processes that can be started from the RevenueScheduleAutomationService are:
|
Sequential Order |
Process |
|---|---|
| 1 | Delete Schedules Where Source Unavailable |
| 2 | Generate Schedules |
| 3 | Recognize Schedules |
| 4 | Summarize Transactions |
| 5 | Create Journals |
The processes always run in the sequential order shown in the table above, but you can specify which process to start from and which process to finish at. For example, if you have a customization that posts revenue recognition transactions to a third party accounting system you might want the automation service to only run processes 1-3.
You specify the first and last process, and other options via configuration parameters.
For more information, see Automation of the End-to-End Process for Recognizing Revenue against Revenue Schedules.
FinancialForce Help
A FinancialForce Help Lightning component has been added to the default utility bar associated with FinancialForce apps. In Revenue Management, it opens Help for the current page or tab. If a Help page specific to the current page or tab cannot be found, the default FinancialForce Help page is displayed.
For more information, see FinancialForce Help Overview.
Introducing FinancialForce Trailhead: Release Highlights
If you want to learn more about the new features in this release, see the ERP Cloud - Winter 2023 Release Highlights Trailhead module. This module will guide you through the new features in our ERP Cloud products.
Fixes
Fixes are listed on the Known Issues page of the FinancialForce Community. You can access this page from the Community Support Hub. For a brief description of the issues that have been fixed in this version of Revenue Management, see the relevant section of the Known Issues page.
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