After running a trial balance, the Action Needed tab shows the items that you must clear before you can close the accounting period. Open the Action Needed tab to view more information about the items.
Draft invoices, draft payments, processing payments, and processing refunds must be cleared before you can close the accounting period.
Unprocessed charges are also displayed on the Actions Needed tab, but they will not prevent you from closing the accounting period. You can review those charges and choose whether to process them.
Unprocessed charges and draft invoices are the most common items that people encounter when trying to close their books. You don't have to take care of unprocessed charges on your balance sheet, but you do have to clear draft invoices.
You can use a bill run to clear unprocessed charges, and you can clear draft invoices by either posting or cancelling them. If you decide to do a bill run, be sure to do it before you run another trial balance or you risk generating draft invoices.
In the Accounting Period detail page, the Action Needed tab displays four types of invoice and payment processes, defined as either Required or Optional. The following sections describe how to fix these issues:
After you have taken care of any required actions, run a trial balance again. If there are no more required actions, you can close your accounting period.
Each draft invoice must be posted or cancelled before closing the accounting period.
Draft payments are uncompleted payments created in Zuora through an old API call, and must be deleted before closing the accounting period. Draft payments have no financial impact on your accounting system.
A payment is in the
Processing state when Zuora tries to collect an electronic payment through a payment gateway and the gateway fails to report whether the payment was successful. Work with your payment gateway to find the correct status of the payment, and contact Zuora Global Support to update the payment status.
A refund is in the
Processing state when Zuora attempts to process an electronic refund through a payment gateway and the gateway fails to report whether the refund was successful or not. Work with your payment gateway to find the correct status of the refund, and contact Zuora Global Support to update the refund status.
If you have any unprocessed charges, you can decide whether to resolve these and include them in the current accounting period.
Click the click here to download link to download a comma-separated value (
.csv) report that gives you more information about the charges, including the account number, subscription number, charge type, and charge dates.
In most cases, you will want to resolve unprocessed charges in this billing period, even if the service spans across multiple billing periods. If you need to spread unprocessed charges over multiple accounting periods, charge for the amount that you want to include in the current accounting period before closing it.
For example, if you are using monthly billing periods, and you are charging for a service that began in January and continues into February, Zuora recommends that you create a bill run for unprocessed charges in the January billing period before you close the books for January. This ensures that the January accounting period will accurately reflect all of the income generated for that month.
If you process usage charges, make sure that you have loaded all of the usage information for the service period, or only process recurring and one-time charges.