Revenue events are events that change revenue schedules. This article describes revenue events and explains how to create revenue event types.
About Revenue Events
A revenue event is a record or audit trail about a change to a revenue schedule. When you manually distribute revenue schedule, if no change is made to the revenue schedule, no revenue events will not be created. Note that you can create a maximum of 1000 Revenue Events for a single Revenue Schedule.
A revenue event is comprised of:
- Date: The date when the event occurred.
- Revenue Event Type: The action or activity triggering the revenue event.
- Recognition Start and Recognition End: The start and end dates for the revenue recognition period.
- Revenue Item: The distribution of revenue (or adjustments) into accounting periods.
The following is an example of revenue events associated with a revenue schedule:
Supported Revenue Event Types
The following Zuora-defined revenue event types are supported:
- accounting period(s) created
- invoice canceled
- invoice posted
- invoice item adjustment created
- invoice item adjustment canceled
- revenue distributed
- credit memo posted (only available if you enable the Invoice Settlement feature)
- debit memo posted (only available if you enable the Invoice Settlement feature)
- credit memo cancelled (only available if you enable the Invoice Settlement feature)
- debit memo cancelled (only available if you enable the Invoice Settlement feature)
If both the Invoice Settlement and Revenue features were enabled on your tenant prior to Zuora Release 230 (R230), August 2018, Zuora will create the credit memo cancelled or debit memo cancelled event type automatically when you cancel a posted credit memo or debit memo.
Create a Revenue Event Type
A revenue event type is a label for an action associated with a revenue schedule, such as revenue distribution or invoice cancelation. You can create your own revenue event type or change the label of an existing one. A maximum of 500 revenue events is allowed.
Revenue event types are either Zuora-defined or user-defined:
- Zuora-defined: This type is always active and cannot be disabled.
- User-defined: This type can be active or not.
Navigation: Click your username at the top right and navigate to Finance Settings > Configure Revenue Event Types.
A revenue event type consists of:
- Label: Required. A unique name for the revenue event type.
- Limit: 50 characters
- System ID: Required. A unique ID for an event that is used to trigger the revenue event.
- Limit: 50 characters
- Cannot end with
__z(double underscore), a reserve Zuora system ID suffix.
- Active: A check mark indicates that the event type is active and is available for use.
For User-defined revenue event types, you can edit the Label and the System ID if the revenue event type is currently not used by a revenue event. After the revenue event type is used by revenue event, you can only edit the Label.