Zuora Revenue 37.017.00.00 Release Notes

Significant Financing Component

Zuora Revenue has now introduced Significant Financing Component (SFC), which calculates your billing in advance or arrears to calculate the net present value and determines the estimated interest on income or expense. The interest on income or expense is the difference between your billed amount and net present value. 

The estimation is treated as a variable consideration on the contract and amortized over the periods. From this release, Zuora Revenue will offer you the following features:

• Calculate interest on income or expense with an interest rate and date range provided by you.

• Recognize any contract modifications, recalculate interest on income or expense, and modify the amortization schedule as required.

• Accrue and amortize SFC estimates and adjustments triggered due to contract modifications.

Manually Edit SSP

Earlier, when you manually edited the SSP of an RC, the system overrode your manual changes through the updated sales order. From this release, the system will not override manual changes, and prospective calculations will only use the manually uploaded value.

Navigate to SSP > Upload and review the two new templates created to capture the changes for percentage and price-based SSPs.

You can also revert the manually edited value using the Manually Revert SSP button so the system derives the value for the updated sales order.

Historical Waterfall Report

Earlier, you used multiple period-wise reports of the past periods and consolidated the data in a spreadsheet to review the quarterly or annual revenue activity by period. From this release, you can review the quarterly or annual revenue activity for any past period using the Historical Waterfall Report. 

To smoothen your quarterly or annual close activities, this report can generate revenue data for up to 13 periods, starting from any historical period you choose. For example, if your current open period is May 2023, to generate a Historical Waterfall Report for your prior year, you can run the report to generate data from January 2022 to December 2022.

The revenue activity of the historical period is the actual revenue that was posted to the General Ledger from Zuora Revenue.

Zuora OneID now available for Zuora Revenue

Zuora's OneID is a robust identity and access management platform designed to enhance security and streamline user access across various Zuora applications and services. Zuora's OneID offers you the following features:

Migrate your existing user accounts from individual tenants to OneID 

With OneID, you can continue to use your existing tenant-level user account along with the same role and permission access. Local user accounts from each Zuora tenant can be preserved by migrating and mapping them to the Global user account in OneID. OneID activation post-migration lets you view tenant access without adding them to groups or assigning them through the MyApps page.

Export a global report of users along with their roles and access levels across Zuora tenants 

Previously, OneID allowed separate tenant logins to generate user management reports for auditing. Across Zuora tenants, exporting a report of users, roles, and access levels is now possible. Admins can utilize the feature that permits creating, downloading, and deleting user management reports.

Audit Trail to track OneID events 

OneID has introduced the Audit Trail feature to track and log various user management activities such as provisioning/de-provisioning, user profile modifications, user login/logout events, the date and time, and the affected field or data, and so on. 

You can use the Audit report from the OneID portal for the User and Role updates.

Manage user tenant access in OneID 

Previously, bulk user provisioning was feasible only for users with the same access type and level. With OneID's enhancement, provisioning management for all user levels is possible. Turning off the Group Enabled option allows users to be assigned tenant access directly without being added to groups. 

Zuora’s OneId is generally available for versions 37.016.06.00 or higher.  Zuora plans to decommission the current login mechanism beginning in August 2024.

NetSuite Connectors - Early adopter

The new NetSuite Connectors are now available for Zuora Revenue and NetSuite. This feature will help you quickly download/upload data between applications. It is purpose-built using APIs and does not require writing any codes. Zuora offers the following connectors;

• Revenue Inbound connector - Uploads transactional data from NetSuite upstream, such as Orders, Invoices, and Credit Memos, into Zuora Revenue.

• Revenue outbound connector - Transfers the revenue journal accounting entries and posts the journals into the NetSuite general ledger.

These connectors provide a configurable UI with flexible field mapping and allow you to run them when necessary or schedule them as needed. The connector also provides execution logs for diagnosing issues and can trigger email notifications.

Mass Actions for Attributes

On the Labels page, we have now introduced the Mass Actions column to enable you to exercise control over the configuration of attribute fields in Mass Actions. You can edit the Labels page if you have access to Labels.

• The fields under the Mass Actions column are enabled by default if the fields under Enable for Criteria and Editable columns are toggled to Yes. All other columns are set to No by default.  

The Manage Mass Actions page is further enhanced to support the following functions:

• Earlier, the limit to add attribute fields under the Update Attributes action field was restricted to 5. We have now increased the limit to 20. This upgrade will also help you view the added values together on the review page, which was again restricted to 5 earlier.

• Earlier, fields once configured, remained static on the Review Data page. You will now have a ‘Delete’ option by the right of each field in case you need to remove the added fields.

• Earlier, you could only configure plain text under Mass Actions for attributes. We have now applied validation based on the data type to help you input numbers and select dates.

For more information, see Manage mass actions.