New Features and Enhancements in Revenue Management Spring 2022

The following new features have been introduced in the Spring 2022 release of FinancialForce Revenue Management.

Dependencies on Other FinancialForce Packages

Revenue Management Spring 2022 requires the following FinancialForce package to be installed:

You must install this package before installing or upgrading to Revenue Management Spring 2022.

(BETA) Recognizing Revenue against Revenue Schedules

Warning:

Revenue recognition against revenue schedules is BETA functionality in this release and should only be used in sandbox environments.

This BETA functionality allows you to recognize revenue against revenue schedules that use "Equal Split" and "Deliverable" templates. We recommend you do not enable this functionality without first contacting FinancialForce. If you perform the setup to use this functionality, you will not be able to use the original Revenue Recognition process, sometimes known as Actuals. Also you will not be able to run other processes that involve committing transactions, such as Transfer Previously Recognized and Deferred Revenue True-Up.

See (BETA) Revenue Recognition against Revenue Schedules for information about the limitations that apply.

For setup information, see (BETA) Additional Setup to Recognize Revenue against Revenue Schedules.

Scheduling Revenue Schedule Generation

You can schedule the Generate Revenue Schedules process to run automatically. The process generates revenue schedules for all source records linked to valid settings. If a source record has no revenue schedules, the process creates them. If a source record already has revenue schedules, the process updates them to reflect any changes.

For more information, see Scheduling Revenue Management Processes to Run Automatically.

Enhancements for Deferred Revenue True-Up

Scheduling Deferred Revenue True-Up

You can schedule the Deferred Revenue True-Up process to run automatically. The scheduled job runs deferred revenue true-up for all eligible source records.

Whether the resulting true-up transactions are created as "In Progress" or "Committed" is determined by the custom field Scheduled True-Up Creates Committed RRTs in the Revenue Management Batch Settings. By default this custom field is false meaning that the true-up transactions are created as "In Progress". Other true-up processes use this flag to set their default behavior but it can be changed at runtime.

For more information, see Scheduling Revenue Management Processes to Run Automatically.

Deferred Revenue True-Up All

By default Deferred Revenue True-Up All processes all source records linked to valid settings regardless of whether they are set to Include in True-Up, and creates a log line for each source record.

If you want Deferred Revenue True-Up All to process only source records that are set to Include in True-Up, select the Run True-Up All on Included Records Only field in the Revenue Management Batch Settings custom setting.

True-Up RRT to Journal integration

The True-Up RRT to Journal Integration builds on the other RRT to Journal integrations to create FinancialForce Accounting journals from revenue recognition transactions created by the true-up process. The journals are created in Accounting with the journal type "Revenue Recognition True Up Journal".

For more information, see True-Up RRT to Journal Integration Overview in the Integrations Help.

Equal Split Months/Actual Days in Part Periods Calculation Type

The new Equal Split Months/Actual Days in Part Periods calculation type allows you to calculate revenue and cost amounts for part periods based on their actual start and end dates. This differs from the Equal Split Months/Part Periods calculation type which treats the first and last periods as one whole period.

For examples illustrating the difference, see Using Equal Split Months Calculation Types.

Total Recognized and Total Amortized to Date on Projects for Business Analytics

If you use PSA and recognize revenue on milestones, timecards, expenses, or miscellaneous adjustments, you can now include recognized and amortized to date values in Business Analytics.

You can create fields on the Project object to store the recognized and amortized values for the entire project, and then create a custom process to populate them. If you provide the API names of the fields in the settings record for the Project object, Business Analytics can use these fields when creating PSA Analytics and Engagement Analytics apps. Business Analytics pulls in the data from the fields on the Project object and includes them in the several dashboards and datasets. For more information, see the following in the Business Analytics Help:

To support this feature, we have added two new fields to the Settings object in Revenue Management: Total Recognized to Date Value and Total Amortized to Date Value. For more information, see Settings Fields.

Note:

These fields are currently only used in Business Analytics. Revenue Management does not automatically populate the values. You must create a custom process to populate the fields on the Project object.

Revenue Management Workspace

The following changes have been made in the Spring 2022 release of Revenue Management Workspace.

Deprecated Managed Workspace Components

As part of our regular maintenance, in this release we have removed support for the following managed components.

We have added a prefix of DEPRECATED: to the component labels to identify these components explicitly. They still function for this release, but they are scheduled to be removed in a future release.

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.