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DRAFT: Zuora Revenue Release Notes


DRAFT: Zuora Revenue Release Notes

This article provides a summary of new features, enhancements, and resolved issues in Zuora Revenue version

New features and enhancements

The following new features and enhancements are available in this release. 

New contract impairment type supported

Previously, when RORD (reduction order) line is collected to cancel the existing contract, only the following types of contract impairment are supported to indicate how the impairment amount is to be processed in Zuora Revenue. However, in some contract impairment scenarios, the allocation revenue gets reduced in proportion to that of the contractual revenue, which is not aligned with the accounting requirements.

  • Contract Impairment (Type 1)
  • New POB (Type 2)
  • Null (Type 3)

To fill in this gap, a new type of contract impairment is introduced, which is called R and R within SSP (Type 4). When the RORD line is collected with the Impairment Type flag being R AND R WITHIN SSP, the adjustment revenue (impairment amount) in the original contract is kept as is and amortized over the term of the original contract. The original contract will also be closed to avoid future linking. For more information about the contract impairment functionality, see Contract impairment.

RORD processing enhancement

Previously, when processing RORD lines, Zuora Revenue will first debit the billed contract liability (CL with Unbill Flag = N) and then debit the unbilled contract liability (CL with Unbill Flag = Y). In some scenarios when both the billed and unbilled CL balances exist in the period, if the RORD line cannot completely knock off the billed revenue but also have an unbilled CL balance, the debit balance of contra account receivable (Contra AR) and credit balance of billed CL are populated. This might cause accounting issues in the future:

  • If no credit memo for the RORD line (CM-RO) line is collected in the future, the Contra AR entry will never be cleared, which causes overstatement in both asset (Contra AR) and liability (CL Billed) of the company’s balance sheet.
  • When the CM-C line is uploaded to clear the billed CL balance (which has been consumed by the RORD line), the CM-C line cannot be collected by Zuora Revenue. It will cause an understatement of the billed CL balance and an overstatement of the unbilled CL balance.

For accurate accounting purposes, RORD processing is updated in this release in the following ways:

  • When RORD line is collected, Zuora Revenue will first debit the unbilled contract liability (CL with Unbill Flag = Y). After the unbilled CL balance is completed consumed, Zuora Revenue will then debit the billed contract liability (CL with Unbill Flag = N). 
  • Contra AR will be populated only when the net sales price of the SO line is less than the net billed amount, the debit balance of Contra AR, and the credit balance of billed CL.

For more information about RORD processing, see RORD and CM-RO accounting entries.

Enhancement to Waterfall tab in Workbench

In the Waterfall tab on the Revenue Contract Detail page, enhancements are made to indicate different currency information of the waterfall data for multi-currency contracts.

  • The Reporting Currency field is available to be added to the layout when you are managing the waterfall layout. When the waterfall data is based on the layout that contains this field, the Reporting Currency column will be displayed to indicate the reporting currency code of the revenue contract, which is determined by the REPORTING_CURRENCY profile.
  • The Waterfall Currency column is also introduced and is displayed right in front of the first period of the waterfall to indicate the currency that is used to calculate and present the waterfall data. This currency is what has been selected in the filter of the Waterfall tab.
  • The existing Transaction Currency column is updated to indicate the allocation currency that is used to calculate the adjustment waterfall revenue. The following table explains the Transaction Currency value to be displayed for adjustment waterfall revenue with different settings of Waterfall Currency and Lowest Common Currency. For example, if the lowest common currency is Transactional and the waterfall is run based on transactional currency, the Transaction Currency column will display the transactional currency code for adjustment waterfall revenue. If the lowest common currency is Functional and the waterfall is run based on transactional currency, there will be no adjustment revenue on the Waterfall tab.
Waterfall Currency Lowest Common Currency = Transactional Lowest Common Currency = Functional Lowest Common Currency = Reporting
Transactional Transaction Currency = Transactional Currency Code No adjustment waterfall No adjustment waterfall
Functional Transaction Currency = Functional Currency Code Transaction Currency = Functional Currency Code No adjustment waterfall
Reporting Transaction Currency = Functional Currency Code Transaction Currency = Functional Currency Code Transaction Currency = Reporting Currency Code

New columns added to Waterfall Report

In addition to the current Cumulative Carves Amount and Cumulative Allocated Amount columns, the following SSP-related columns are available in the Waterfall Report. This enhancement can provide you with visibility of the SSP information when you are viewing the waterfall data.

  • Original FV Date (ORIG_FV_DT)
  • Above SSP Price (ABOVE_FV_PRC)
  • Below SSP Price (BELOW_FV_PRC)
  • SSP Expire (FV_EXPR)
  • Above Mid Percent (ABOVE_MID_PCT)
  • Below Mid Percent (BELOW_MID_PCT)

SOB ID column added to Trial Balance Report and Disclosure Aggregation

The SOB ID column, which origins from the RC Line table, is added to the Trial Balance Report. Besides, it also can be selected and added for disclosure aggregation when you navigate to Setups > Application > Disclosure Aggregation.

Ability to hide background jobs on Schedule Jobs page

Previously, when you navigate to Reports > Schedule Jobs, all jobs are visible and can be started on the page. From this release, a hiding flag is added on the Setups > Application > Background Jobs page. When this flag is set to Y for a job, this job will be not accessible from the Schedule Jobs page. However, the job hidden from the Schedule Jobs page is still visible and can be monitored by the user who has appropriate access to Schedule Manager according to the role privilege settings.

Display label name change in Workbench

In the Contracts/Orders tab on the Revenue Contract Detail page, the Posted Percent column is used to indicate the posted percentage as of the last contract modification date, which is not the real-time posted percentage. Lack of clarification in the label name causes confusion. Beginning from, this label is renamed to Last CT Mod Posted %, which indicates the posted percentage is based on the last contract modification date. The reports that contain this column are also updated with the new label name.

If you have already customized the display label name for the POSTED_PCT field under the Contracts/Orders category on the Setups > Applications > Labels page, your customized label name will remain the same.

Enhancement to support overstated invoices without triggering reallocation

As installment billing practice becomes more popular with the subscription business, there are some valid use cases that result in overstated invoices and cause rounding issues in Zuora Revenue. The following list shows two examples of these use cases:

  • The upstream billing system sends invoices that sum up to overstate the SO line amount by cent.
  • Invoices that are unbundled in Zuora Revenue for multiple periods sum up to overstate the SO line amount by cent.

In this type of circumstance when the invoice is overstating the SO lines, reallocation occurs in Zuora Revenue. However, if the absolute value of the overstated amount is less than $1, it makes sense for Zuora Revenue not to trigger allocation. Instead, Zuora Revenue is expected to adjust the SO line amount and true up the deferred revenue based on the SO line changes.

To provide this functionality, the new lookup called CT_MOD_THRESHOLD_OVERAGE_INV is introduced in this release. You can specify a number for this lookup as a threshold. When the overstated invoice is collected, Zuora Revenue will compare the overstated amount with the specified lookup value. Only when the overstated amount is greater than the lookup value, Zuora Revenue will trigger the appropriate contract modification rule and re-allocation. Otherwise, the system will adjust the SO line amount based on the overstated invoices and true up the deferred revenue.

Remember that the prerequisite for the CT_MOD_THRESHOLD_OVERAGE_INV lookup to work is the following profiles are configured appropriately:

  • The ALLOW_OVERSTATED_INVOICE profile is set to Yes so that the invoices that overstate the SO line can be collected in Zuora Revenue.
  • The ENABLE_CT_MOD_INV_OVERAGE profile is set to Yes so that the overstated amount will be considered to determine the contract modification rule triggered.

Display filter parameters for the downloaded reports

Previously, when you download reports from the My Downloads page, you can only know the report name and layout name for each record in the UI. It is not possible for you to tell the filter parameters that are specified for running each report until you download and open the report file. From this release, a column called Parameters is added in the UI on the My Downloads page to display the exact filter values that are used to run the report. With this enhancement, you can make a better decision on which report is the one that you want to download.

Changes to MJE Details - By Schedule Period report layout ( or later)

A performance issue is identified when the MJE Details Report is run based on the MJE Details - By Schedule Period layout. The report cannot be generated and ends up in errors. To fix this performance issue, the MJE Details - By Schedule Period report layout is moved from the MJE Details Report to Accounting Report, which is always based on the schedule period. The existing layout for the MJE Details Report, which uses the schedule period as a filter, is marked as Deprecated.

Column changes to Contract Modification tab in Workbench ( or later)

Previously, there was a column called Modification Treatment in the Contract Modification tab on the Revenue Contract Detail page, which is supposed to indicate the contract modification treatment that is triggered for the revenue contract. However, the source of this column comes from contract modification settings instead of the actual allocation treatment for the current revenue contract.

Beginning from, the Modification Treatment column is replaced by another column called Allocation Treatment in the Contract Modification tab. This new column can indicate the actual contract modification treatment that is triggered for the revenue contract.

If you use the previous Modification Treatment column in any of the custom layouts for this tab, you need to update the custom layout to remove it. Otherwise, you might encounter errors when viewing this tab in the UI. A script is also provided to remove this column from the custom layout. For more information, see this post in Zuora Revenue community.

Close Process Dashboard enhancement

Beginning from, the Close Process Dashboard is further enhanced to automate the accounting reconciliation process by introducing the Accounting Analysis tab. The Accounting Analysis tab can automatically reconcile between the following reports for the contractual revenue and adjustment revenue based on different entities and accounting segments against all post-able entries that can be found in the Accounting Detail Report.

  • Accounting Detail Report, Revenue Insight Report, and Waterfall Report
  • Accounting Detail Report and RC Rollforward Report
  • Accounting Detail Report and Unbill Rollforward Report
  • Accounting Detail Report and Billing Rollforward Report

For more information, see Close Process Dashboard.

Preservation of manually updated fields

After you manually upload the sales order (SO) line updates,  you might want some field values to be preserved with the manually updated values and not overridden by the system, such as Ext SSP Price, SSP Percent, or SSP Price. This can be accomplished by enabling manual preservation for the field. To do this, navigate to Setups > Application > Labels. A new column called Manual Preserve is added to the page. If a field is editable, which means its value can be manually updated, you can further specify whether the manually updated value should be preserved by toggling the Manual Preserve column to Yes

Note: The Manual Preserve column is not applicable to all fields. Only the following fields are supported on the condition that their Editable column is toggled to Yes.

  • Ext SSP Price
  • SSP Percent
  • SSP Price
  • CV Eligible Flag
  • Revenue Start Date
  • Revenue End Date

To support the field preservation enhancement and make it easy to track, the following changes are also delivered with this enhancement:

  • The transaction line that has manually updated field values that are enabled for preservation will be displayed in blue font in the Contract/Orders tab in Workbench, which indicates that the line has been manually updated and the values will be preserved.  
  • The manually updated fields can be found in the Timeline tab of the Revenue Workbench.
  • A new layout called Manual Updated Report is introduced for the RC WorkBench Timeline Report, which tracks all manually updated fields with both the previous and new values chronically. 
  • All the configuration changes related to field preservation can be tracked in the Audit Trail Report.
  • Manual SSP Flag

[8/26] "Manual SSP Flag" indicator to be available for as fields in Revenue Contract Details and Booking Report. 

UI enhancements for contract modification dates

In Revenue Workbench, some UI label names caused confusion for people to understand the period or dates when contract modification occurs. From this release, the following UI enhancements are available to address this issue:

  • In the Overview tab on the Revenue Contract Detail page, the existing Contract Mod End Date field is renamed as Last Contract Mod Period, which indicates the latest period when contract modification occurs within the revenue contract. 

  • A field called Last Posted Period is added to the Overview tab to show lasted period that has been posted for the revenue contract.

  • In the Contracts/Orders tab, the existing Contract Modification Date column is renamed as Last Contract Mod Period, which indicates the last period when the contract modification happens to the line. This field is also presented in the Contract Modification tab.

  • A field called Last Posted Period is added to the Contract/Orders tab, which indicates the latest posted period for the line.

In addition, when you are comparing different versions of a revenue contract, the Version History window can also indicate the contract modification period for the selected version as well as the allocation method.

Issues resolved in this release

Refer to xxxx to get a complete list of all issues that have been resolved in this release. The allocation-related issues are listed in the following table.

Engineering tracking ID Support tracking ID Impacted functionality Fixed version Summary

Documentation updates

The following documentation is updated or published for this release: