If a Revenue Event Type is listed on the Revenue Detail, a Revenue Event must be added to that Revenue Detail so that the Revenue Plan populates with the desired amount to recognize.
Event Types:
- ZAB Amount Based: A currency amount is defined for recognition purposes.
- ZAB Quantity Based: A quantity amount is defined for recognition purposes. The Discounted Sales Amount divided by the Revenue Detail Quantity multiplied by the Revenue Event quantity will define the currency amount to be recognized.
- ZAB Percent Complete: A percentage is defined for recognition purposes. The Discounted Sales Amount multiplied by the ZAB Revenue Event percentage will define the currency amount to be recognized. A calculation will be done by the system to create the delta between the previously recognized percentage and the new recognized percentage.
Fields on the Revenue Event record:
- Date: This is the date of the Revenue Event
- Quantity: This field should be used if the Revenue Event Type is “ZAB Quantity Based”
- Amount (Transaction Currency): This field should be used if the Revenue Event Type is “ZAB Amount Based”
- Cumulative Percent Complete: This field should be used if the Revenue Event Type is “ZAB Percent Complete”
- Revenue Detail: This is the Revenue Detail to which the Revenue Event is assigned.
- Accounting Book: This is populated from the Accounting Book on the Revenue Detail.
- Subscription: This is populated from the Subscription on the Revenue Detail.
- Subscription Item: This is populated from the Revenue Event Subscription Item on the Revenue Detail.
- Revenue Recognition Event: After Update Revenue Detail is run on the related Subscription, a Revenue Recognition Event will be assigned to this Revenue Event.
- Subsidiary: This is populated from the Subsidiary on the Revenue Detail.
- Department: This is populated from the Department on the Revenue Detail.
- Location: This is populated from the Location on the Revenue Detail.
- Class: This is populated from the Class on the Revenue Detail.
- ID: This is a system generated ID for the Revenue Event.
To create a Revenue Event:
1. Go to the Revenue Detail record > click ZAB Revenue Event > click New ZAB Revenue Event. The ZAB Revenue Event form will then load.
2. From the associated Subscription, choose Create Revenue Events (which will direct you to a Suitelet):
3. From the associated Subscription Item, choose Create Revenue Events (which will direct you to a Suitelet):
- Navigate to the Suitelet via Transactions > Zone Advanced Billing > Create Revenue Events
- Import ZAB Revenue Events (Setup > Import/Export > Import CSV Records > Custom Record > Set the Record Type to ZAB Revenue Event)
Revenue Recognition Events
Revenue Recognition Events trigger the creation of Revenue Plans. When enabling ZoneBilling Revenue, you are required to set up custom Revenue Recognition Events for “ZAB Billing” and “ZAB RA Creation”. Additional (optional) custom events can be set up for “ZAB Quantity Based”, “ZAB Amount Based” and “ZAB Percent Complete” as needed.
The field Creation Revenue Plans On on the Item record defines what the relevant trigger will be for the ZAB Revenue Detail.