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Knowledge Center > Zuora RevPro > Month End Process > Prerequisites Before Closing a Period

Prerequisites Before Closing a Period

This article introduces the prerequisite activities and tasks you need to do before initiating the period-end close process.

Prerequisite Activities

The following table shows the names, types, and description of the prerequisite activities. You need to run these activities before initiating the period-end close process. See the Prerequisite Tasks section below.

Activity Type Activity Name Description
Report Staging Report Report used to verify for unprocessed and errored transactions in the stage table and submit data collection.
Report Billings Report Report used to reconcile the total billings interfaced to RevPro with an upstream application.
Report Bookings Report Report used to reconcile the total bookings interfaced to RevPro with an upstream application.
Program RevPro3.0 Data Collection Based on the outcome of the bookings/billings reconciliation and the unprocessed/errored transactions in the stage table, data collection may need to be submitted to process transactions in the stage table.
Report Event Stage Report Report used to verify for any unprocessed events in the event stage table.
Report Orphan Transactions Report

Report used to verify that there are no orphan transactions, which need to be linked to their respective RCs in order to ensure correct accounting in the current open period.

Report SSP Exception Report Report used to identify any transactions where RevPro was unable to derive SSP and therefore, unable to perform allocations.
Report/Workbench Approval Report/workbench used to identify the RCs, which are pending for approval. Approvals may be configured to hold revenue accounting. Users to validate that pending approval status is still appropriate or review and approve respective RCs.
Report/Workbench RC Holds Report/Holds Report/workbench used to identify the RCs, which have held still applied. Holds may be configured to hold revenue accounting. Users to validate that hold is still appropriate or review and release respectively holds.
Program

RevPro3.0 POB Immediate Release

This program scans through the POBs, which are expired and then releases them accordingly.
Program

RevPro3.0 Event Collection Process

This program processes any pending events available in the event stage table and releases or defers revenue as called out on the event. 
Report UnReleased POBs Report Report used to identify the performance obligations POBs, which have not been released. Users to validate that status of POB is correct or to manually release. The review of this report may be an iterative process based on approvals, hold releases and release programs.
Program RevPro3.0 Transfer Accounting This is the final step to post all unposted schedules to the GL. It excludes all lines which are on hold.

Prerequisite Tasks

Perform the following tasks before initiating the period-end close process:

Task 1: Collect and Process Unprocessed or Errored Records

You must ensure all the unprocessed and errored records in transaction stage table are collected and processed. To do so, run the Line Staging Report, which provides visibility to these records.

  1. Navigate to Reports > Run Reports in Zuora RevPro.

    A1_T1_S1_1.png

  2. Select Line Staging Report from the SOX And Audit category.

    A1_T1_S1_2.png

  3. Input the values for the required parameters, and click Run Report.

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  4. Validate the data and fix any records with errors using either the Data Interface UI or by re-uploading or resending the previously failed records that have been corrected. 

Task 2: Process the Remaining Transactions

You can run the data collection program to process any remaining transactions in the transaction staging table.

To process the remaining transactions:

  1. Navigate to Reports > Schedule Jobs in Zuora RevPro.

    A1_T1_S2_1.png

  2. In the Schedule Program tab, select RevPro 3.0 Data Collection Master from the Program Name list to launch the job.

    A1_T1_S2_2.png

    Or create a new revenue contract (RC) batch from the RC Batch screen and submit by selecting Collect Data.

    A1_T1_S2_3.png

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  3. After the job is completed, verify if there are any failed records in the transaction stage table in one of following ways:
    • Run the Line Staging Report.
    • Select the Inbound sub-menu under the Data Interface menu.
  4. Repeat Step 1 and 2 if required.

Task 3: Check for Unprocessed Events

You can run the Event Staging Report from the Transactions Report category to check all the unprocessed events staged in the events stage table.

To check unprocessed events:

  1. Run the Event Staging Report from the Transactions report category.

    A1_T1_S3_1.png

  2. Review and validate the records in the report. If required, run the Event process program to process events.

Task 4: Check for Orphan Transactions

To check the orphan transactions, run Orphan Transactions report under the SOX and Audit report category. If there are any orphan transactions in Zuora RevPro, fix the orphan transactions by linking the orphan transactions to the existing RC’s or creating a new RC.

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Task 5: Run SSP Exception Report

Run the SSP Exception Report to check for any transactions where RevPro was unable to derive SSP and, therefore, allocations were not performed. To correct this issue, you can create or upload new SSPs and manually update SSP for specific transactions and re-allocate the affected RCs.

Run SSP Exception Report, which is available under SOX And Audit report category.

A1_T1_S5_1.png

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Task 6: Review RCs Approval Rules

You need to review all RC’s in Zuora RevPro where approval rules have been applied and revenue is being held due to pending approvals.

To review RCs approval rules:

  1. Run Approvals Report to display all pending approvals and who needs to approve them.

    A1_T1_S6_1.png

  2. Approve RCs. Navigate to the Workbench menu, and select the Approvals sub-menu. This displays all the RCs pending approval by the user.

    A1_T1_S6_2.png

  3. RCs can be approved at the screen by selecting the RCs to be approved or drilling into each RC and approving there. All approvals require an approval comment.

    A1_T1_S6_3.png

Task 7: Review RC Holds

You need to review all RC’s where holds have been applied and revenue is being deferred pending release of the hold.

To review RC holds

  1. Run the RC Hold/Release Report from the SOX and Audit report category to see all unreleased holds.

    A1_T1_S7_1.png

  2. Release holds. Navigate to the Workbench menu and select the Holds sub-menu option:

    A1_T1_S7_2.png

  3. All the pending holds (RC, POB and line level) are displayed. You can release holds from this screen or drill into the RC and release the hold.

    A1_T1_S7_3.png

  4. The release of all holds requires comments and a release reason.

    A1_T1_S7_4.png

Task 8: Release Expired POBs

To release any POBs, which have expired., run the RevPro3.0 POB Immediate Release Master.

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Task 9: Process Pending Release Events

To process the pending release events:

  1. Run the RevPro3.0 Event Collection Process to process any pending release events. This is needed to be run at the end of the review process. Because there may be RCs, which have been approved and holds released for which events can now be processed.   

    A1_T1_S9_1.png

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  2. After submitting the program, the program processes the pending events. After completion of the program, verify the Events Report for any unprocessed events in the events staging table.  

Task 10: Review Unreleased POBs

You need to review all the unreleased POBs to validate that they do not require manual releases.

  1. Run the Unreleased POB Report from the Transactions Report Category to review all unreleased POBs.

    A1_T1_S10_1.png

    A1_T1_S10_2.png

  2. For any POBs that need to be manually released, select the Workbench menu, the Revenue Contracts sub-menu to search, and select the RCs with POBs to be manually released. All manual releases require a comment and are tracked. You may always want to run the POBs Released Report from the Transactions Report Category to validate all POBs that were manually released and ensure that they do not need to be deferred.

Task 11: Ensure All Schedules are Posted

Perform RevPro3.0 Transfer Accounting before initiating the period close to ensure there are no unposted schedules. This excludes any transactions with transfer holds.

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