The LT/ST reclassification process can be started by using the LT/ST Reclass menu option in the Zuora Revenue UI. After this process is completed, LT/ST schedules are created for the eligible transaction lines and are downloadable for review. Then, you can also choose to create MJE for these LT/ST schedules directly in the UI.
Before you begin
Before you start the LT/ST reclassification process, make sure that the following requirements are met:
The LT/ST reclassification related profiles are specified according to your business needs. For more information, see Configuration overview.
The setups of account types, user security, and revenue books are ready in the system. For more information, see Configuration overview.
If the netting functionality is enabled in the system, the netting process must be performed before the LT/ST reclassification process when all the revenue release is complete for a given period. Otherwise, the LT/ST reclassification process cannot be started correctly. If the netting functionality is not enabled in the system, it is not mandatory to the complete the netting process before LT/ST reclassification. For more information, see Netting process.
Complete the following steps in the UI to start the LT/ST reclassification process:
Navigate to Accounting > LT/ST Reclass.
Click Reclass. The Reclass For Books window is displayed.
From the Available Books list, select the book for which you want to run the LT/ST reclassification process, and then click the right arrow to move your selection to the Selected Books list.
Only one LT/ST reclassification process can be started for one combination of revenue book and organization in the given period.
Click . The LT/ST reclassification process is started. You can close the window.
On the LT/ST Reclass page, wait for a few minutes for the process to complete and then click the Refresh icon .
After the LT/ST reclassification process is complete, the status of this record line changes to Ready for Manual JE on the page.
If the status changes to Error, it means the LT/ST Reclass process fails. Navigate to Reports > Scheduled Jobs to find more information about the process. If there is no LT/ST Reclass process or its associated threads started, it might because the required netting process has not been started for the current period or some required fields for the transactions are not populated (for example, the SOB ID field is empty).
What to do next
- To view the LT/ST schedules that are created, hover the mouse over the line and then click the Download LT/ST Schedules icon . The LT/ST schedules are downloaded to your local system as a CSV file.
- To create manual JE based on the LT/ST schedules, complete the following steps. If the MJE_RC_LINE_FIELD_MAP lookup is already defined for the mapping between MJE reference columns and the RC line columns, Zuora Revenue will copy the values from the corresponding columns in the RC line table to the MJE reference columns when creating the manual JE. For more information about how to define this lookup, see MJE setups.
- Hover the mouse over the line and then click the Create Manual JE icon .
- In the New JE window, specify the appropriate category code, exchange rate type, activity type code, and reason code.
- Click . The MJE is created and a message is displayed to indicate whether the operation is successful.
- To view the MJE details or submit it for approval, navigate to File Upload > Manual JE. The name of the created MJE line starts with LT-ST in the Manual JE Entries section.
- Hover the mouse over this line to take appropriate actions to complete the standard MJE approval process. After the MJE is approved for the LT/ST schedules, it is ready to be transferred.