Enable Revenue Contracts for Revenue Cloud

This Feature Console page configures a standard setup to create revenue contracts for Salesforce orders via engagements, and when revenue is recognized for those revenue contracts the resulting revenue recognition transactions are grouped by Legal Entity.

An engagement record can be linked to an order and its related order amendments. By creating a revenue contract for the engagement, the original order and any order amendments are managed on the same revenue contract.

Before You Begin

You must enable the following features in Feature Console:

  • Revenue Cloud Connector
  • Create Setup for Using Revenue Contracts

This is because the Revenue Contracts for Revenue Cloud feature builds on the setup created by these features.

Enabling Revenue Contracts for Revenue Cloud

To enable the Revenue Contracts for Revenue Cloud feature, work through the steps in the order shown on screen. Most of the steps are automatic but there are some steps that you must complete manually. When an automatic step has completed, its Status changes from "Not Done" to "Done".

  1. For feature step 1, click Perform. This step updates existing settings and templates, creates required fields, and creates a field mapping definition. It also updates the Revenue Management on SF Revenue Cloud permission set to include the new fields.
  2. For feature step 2, click Perform. This step updates the Foundations Engagement object in preparation for linking engagements to Salesforce orders and revenue contracts.
  3. For feature step 3, click Perform. This step updates the page layout for Salesforce Order to include a lookup to the Engagement object.
  4. For feature step 4, click Perform. This step updates the Revenue Contract object in preparation for creating revenue contracts from engagements.
  5. For feature step 5, follow the instructions in Configuring Salesforce Flows to create Engagements from Orders to automate the creation of engagements from Salesforce orders. Click Mark as Done when you have completed the configuration.

When you have completed all the steps, use the Status slider in the Feature section to mark the feature as enabled.

Next Steps

  • Assign the Revenue Management on SF Revenue Cloud permission set to users needing to view and edit the fields that are created by this feature, and to users creating Salesforce flows to create engagements from orders. The fields are listed in Metadata Changes when Enabling Revenue Contracts for Revenue Cloud. Note that this permission set does not give access to the Salesforce objects. You must manage object access in your own permission sets.
  • Ensure that your order products, invoice lines, credit note lines, and usage summaries are configured to use templates that the Revenue Cloud Connector feature created for use with revenue contracts. The names of these templates are suffixed with "- RC" for example, Order Product - Deliverable - RC. The Revenue Contracts for Revenue Cloud feature updates these templates to include a Performance Obligation Template.
  • For information about how to create revenue contracts for engagements, see Generating Revenue Contracts for Engagements.
Note:

By default, revenue schedules are generated automatically when revenue contracts are created asynchronously (typically via the API). If you do not want revenue schedules to be generated in this way, set the Disable Generate Schedules for Contracts field in the Revenue Management Settings custom setting to true.