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RevPro Workbench

Table of contents

Workbench is the complete integration screen where the focus is more on the Revenue Contract (RC), Performance Obligations (POB) and POB line items. From the Workbench, you can perform the following actions on RC, POB, and lines:

  • Creating Manual RCs
  • Choosing grouping templates from the drop-down list
  • Linking and delinking the RC, POB, and lines with the new RCs
  • Editing POB
  • Re-allocating RC, POB, and lines
  • Closing RC, POB, and lines
  • Generating forecasts
  • Switching guidance or allocations
  • Releasing or deferring POB
  • Pre-summarizing RC

In the Workbench, in addition to managing Revenue Contracts, POB, and lines, you can also do the following:

  • Manage Mass Actions – You can also create batches where you can select an existing template and create a batch where the grouping rules are applied on the RC.
  • Approvals – You can approve or reject both the RC as well as the MJE in this screen. You can also perform a bulk approval of all the RCs. Click to tick.jpgapprove the RC/MJE or X to reject the approval.
  • Holds – You can view the holds that are pending for approval as well as approve the holds that were released. You can also filter the holds based on the RC, POB, or Line. Click tick.jpg to approve the holds and click approve.jpgthe to approve the released holds.

Revenue Contracts

The complete details of a revenue contract are provided in the screen as shown in the figure below. You can enter the search parameters and perform a search to view Book Name, Customer Name, Contract Value, and pricing related details.

Revenue Contract Home Page.jpg

Perform the following steps to search and view the Revenue Contract details:

You can create a new Revenue Contract by clicking Create Manual RC and then enter all the details discussed in this document from Step 4 to create a new RC. RevPro does not allow you to create a new RC without linking with an existing RC, POB, and lines.

  1. Navigate to Workbench Revenue Contracts.
  2. In the Search Pane, enter the Revenue Contract number and click Search to list the Revenue Contract details in the Results pane.
  3. Select a Revenue Contract from the Results pane, right-click and select View Revenue Contract to open the RC details.
  4. Revenue Contracts details are listed below:
    • Book – The Accounting Book in which the RC is associated.
    • Customer – Name of the Customer for whom the RC has been created.
    • Contract Value – Value of the contract.
    • Price Adjustment – Variable Consideration related price adjustment value specified for the RC, if any.
    • Transaction Price – Total value of the contract that includes variable consideration, if any.
    • Revenue To Date – Revenue released until the current open period
    • Unreleased Contract Value – Revenue still yet to be released is displayed. The schedule is not yet created and revenue may or may not get released.
    • Released Future Revenue – The contract value of the future period for which the schedule is created.
    • Contract Asset – Over recognized value about the billing is defined as Contract Asset.
  5. In the Overview pane, the following details are displayed:
    • Revenue To Date pane shows the pictorial representation of the revenue recognized till date against the total contract value.
    • Revenue Waterfall pane shows the pictorial representation of the periodic recognition of revenue.
  6. In the bottom left pane, the RC value, adjustments, and revenue released amount details are listed in the Transaction, Base, and Reporting Currency.
    • Contact Value – Value of the contract.
    • Booked Value – Initial value of the contract while booking with the Customer.
    • Billing – Billing value of the contract.
    • Contra AR – Amount specified as contra AR.
    • Billings Backlog – Backlog amount that has to be billed.
    • Price Adjustment – Any adjustment amount associated with the Contract.
    • Revenue To Date – Revenue released till date is displayed.
    • Impairment – Any amount that lies as an impairment if the RC line is canceled after part of it or fully is recognized.
    • COGS Released Cost of goods that is recognized.
    • COGS Capitalized Capitalized costs are not expensed in the period they were incurred but recognized over a period of time.
    • Margin Margin of profit set on the RC in percentage is specified.
    • Other Cost Released, Other Cost Capitalized – Any other cost that is released or capitalized related to the RC.
  7. In the bottom right pane, the RC creation related details are listed below:
    • The Hold Revenue check box appears selected if the revenue hold is applied for the RC.
    • The Hold Transfer check box appears selected to indicate that there is a hold on the transfer of the unreleased contract value.
    • Select the Transferred check box, if the RC has been transferred.
  8. In the Transactions pane, you can select the Layout to view the RC in that format.

    Line Right Click Menu.jpg

    • Select RC, POB, or Line and based on the selection, the details will be listed in the below pane.
    • The release percentage of the lead line determines the release percentage of the POB. The lead line is the primary line that is released and all the non-lead lines are also released along with the lead line. Consolidated POB consists of a lead line and a non-lead line.
      • Lead Line - This is created through Advance Rule only and we cannot create from any other screen. The lead line determines the revenue pattern for that POB.
      • Non-Lead Line - This line follows the revenue pattern of the lead line.
        • POB Name – Name of the POB associated with the RC. Click the + button that is part of a lead line to expand and view the non-lead lines associated with the lead line.
        • Based on the Columns selection made, you can list the relevant fields in the screen.
        • When you select and double-click, the following details are listed in the Details pane:
          • A single POB and its details.
          • A line associated with the POB, the line details.
          • Single or multiple non-lead line details associated with the lead line.
  9. In the Line Details pane, you can find the following panes that are associated with the POB, Line, and SO:
    • Billings – Invoice and released revenue related details are listed.
    • Cost Elements – Total cost of the sales are listed along with the released cost.
    • Transaction Pricing – Variable consideration applied on the value are listed.
    • Revenue Actions – Revenue that is recognized and the details of the released revenue are listed.
    • Waterfall – Amortization of revenue/cost across periods.The manual or events that triggered the release of the revenue and the revenue recognized is also listed.
    • Accounting– Gives the accounting insight of the particular POB/line along with the revenue in the transactional, functional and reporting currency.
    • VC Actions – Variable Considerations related actions along with the adjustments period and value are listed.
    • Revenue Holds– Type of holds that were applied on the RC and their released dates are listed.
    • Reduction Orders – Reduction orders associated with the RC are listed.
  10. Click the drop down that appears on the right side of the screen and the following menu appears:

    right click menu.jpg

    • Link RC/POB/Lines – Opens the Link RC/POB/Lines screen and you can select a specific RC, POB or Line with the existing RC and click the Save button to link. Orphan RC/POB/Lines can be selected and linked to the existing RC.
    • Delink – Opens the Delink screen and you can select the method as RC, POB, or Line. Based on the method, relevant details are listed. Select the relevant record and click the Delink button to delink the RC, POB, or Line from the current RC. Add Filters and Clear Filters button appears when you select POB and Line. Enter the field name, operator, and value. Select Apply Filters to list the relevant POB or Lines that has to be delinked and delink it.
    • Version – New Version tab appears and you can view the list of versions of that RC. You can select one version and select another version and click Compare to see the changes the RC has undergone. This feature helps you to compare and also view the details and see the earlier versions of the RC.
    • Manage Layout – Opens the Manage Transaction Layouts screen where you can view the layout and you are also allowed to define a new layout to the RC or modify the existing layout and click Save.
    • Re-Allocate – Click this link to re-allocate the adjusted revenue amount of the RC, POB, or Line.
    • Close RC – Click this link to close the RC, POB, or Line. Ensure that you double check before closing the RC. When you close the RC, no new line gets added to the RC even if grouping is satisfied.
    • Allocation Ineligible – Click this link to make the allocation eligible. A success message appears immediately. Reverse allocation revenue is created in the RC.
    • Freeze /Unfreeze – You can freeze or unfreeze the RC and it can be done only at the RC level.
    • Generate Forecast – Click the link to generate the forecast for the RC, POB, or Line.
    • Switch Guidance – ASC 605 or 606 guidance can be switched to see how the RC details change based on the guidance.
    • Switch Allocation – To change the existing allocation method in an RC to a new allocation method for example, from Prospective to Retrospective or from Retrospective to Prospective.
    • Release/Defer POB – Select the POB to release or defer the POB from RC.
    • Pre-Summarize RC – Select to pre-summarize the RC details. This gives an outcome of the RC.
  11. In the Billings pane, Invoice related details are listed along with the released revenue and their start and end date are listed.
  12. In the Waterfall pane, you can list the POB or Line level transactions, the type of currency and waterfall type that can be cost, revenue, adjustments or VC, and the Forecast whether it is based on Actuals, Forecast or both.
  13. In the Accounting pane, you can view the type of the accounting that it is a Contract Liability or Revenue along with the revenue in the transactional, functional and reporting currency.
  14. In the Revenue Summary pane, recognized Billing/Cost/Revenue and the released revenue details are listed.
  15. In the Notes & Attachments pane, you can attach files that are related to the RC/POB/Line.
  16. In the Approvals pane, the details of the approver and the status of the approvals are listed.
  17. In the RC Holds pane, the holds that were placed on the RC are listed. You can click the Release Holds button to release the holds placed on the RC or Apply Holds to place an RC on hold.
  18. In the Reduction Orders pane, Reduction orders associated with the RC are listed.
  19. You can create a filter by clicking Advance Search to and search for the Revenue Contracts. 
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