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Period-open activities

Zuora

Period-open activities

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When there is no open period in Zuora Revenue, you can start the period-open process.

Overview

As part of the period-open process, you must run several predefined programs in sequence and validate data in various reports before you can close a period.

The period-open tasks listed in the following section are recommendations that can help ensure data accuracy. You can decide the required period-open tasks based on your own business needs.

To complete the period-open tasks, you can choose to manually complete them by navigating between various UIs. Alternatively, you can create a period-open template and add the tasks to this template. In this way, you can perform the period-open tasks in one central UI. For more information, see Create Period Close/Open templates.

If a period-open template is enabled in the system, you must perform the period-open tasks as defined in the template. For more information, see Open a period based on a template. If there is no period-close template enabled, follow the instructions in Open a period without a template.

Period-open tasks

The following tasks are recommended to be completed before a period can be opened in Zuora Revenue. After you understand the purpose of each step, you can decide whether the step is necessary for your company and have your own customized list. 

The UI operations are different depending on whether a period-open template is enabled in Zuora Revenue.

Task Activity Description
1 Run the RevPro3.0 Netting Process program. This task is to calculate the CA/CL balance and net position of each RC in the new current open period.  The ending CA/CL balance of the prior period and the net position is carried forward to the new period.
2 Run the RevPro3.0 Reporting Period Open program. This task is to carry forward all balance sheet account balances at the account level from the prior period to the new current open period. So that the correct amounts can be reflected on the reports.
3 Review and validate SSPs for both values and effective dates. This is a manual task. Any updates to SSPs must be made before any transactions can be uploaded to Zuora Revenue in the new current open period.

Open a period based on a template

Complete the following steps to open a period based on a period-open template:

  1. Navigate to Accounting > Period Open/Close. All the periods that are part of the enabled template are listed.

  2. Select the period to open, hover your mouse over the line and click one of the following icons:

    • icon-close-open-next.png Close Current/Open Next: Open the next period after the latest closed period.

    • icon-close-open-other.png Close Current/Open Other: Choose another period to open.

  3. Confirm your selection in the pop-up window. The status of the selected period changes to Pending Open.

  4. Hover your mouse over the line again, and then click the Initial Open Period icon icon-initial-close.png. The Initial Open Period window is displayed. All tasks that are added to the period-open template listed in the lower half.

  5. Complete all the tasks in the specified sequence. The steps vary depending on the type of the current task.

    Task Type Steps
    Program
    1. Select Initiate Task in the Action Type column. 
    2. Hover your mouse over the current task line and click the Submit Job icon icon-edit.png. The Program Parameters window is displayed.
    3. Specify the parameter values as necessary and click Submit Job.
    4. Hover your mouse over the current task line and click the Refresh icon icon-refresh.png to update the task status.
    5. After the Status column changes to Completed, change the Proceed to Next Task column to Yes.
    6. Click icon-save-green.png and then proceed to the next task.
    Reporting
    1. Select Initiate Task in the Action Type column.
    2. Hover your mouse over the current task line and click the Submit Job icon icon-edit.png. The Submit Report window is displayed.
    3. Select the report layout and other fields as necessary, and then click Submit Download.
    4. Hover your mouse over the current task line and click the Refresh icon icon-refresh.png to update the task status.
    5. After the Status column changes to Completed.
    6. Validate the report data and then change the Proceed to Next Task column to Yes.
    7. Click icon-save-green.png and then proceed to the next task.
    Manual
    1. Manually complete the task.
    2. Select Complete Task in the Action Type column.
    3. Change the Proceed to Next Task column to Yes.
    4. Click icon-save-green.png and then proceed to the next task.

  6. After all the tasks are completed, the Open button shows up in the Initiate Open Period window. Click it to open a period.

  7. After you confirm your selection, the current period is opened.

  • To skip an optional task, select Skip Task in the Action Type column. Then, change the  Proceed to Next Task column to Yes and click icon-save-green.png to proceed to the next task.
  • To cancel the period-open process, click Cancel Period Processes. The period status will roll back to the previous.
  • Before you complete all the tasks, you can access the Initial Open Period window anytime by completing Step 1 ~ 4.

Open a period without a template

When there is no open period and no enabled period-open template in the system, complete the following steps to open a period:

  1. Ensure that all the required period-open tasks are completed.

  2. Navigate to Accounting > Period Open/Close.

  3. Select the period to open, hover your mouse over the line and click one of the pencil icons icon-edit.png:

    • Close Current/Open Next (left icon): Open the next period after the latest closed period.

    • Close Current/Open Other (right icon): Choose another period to open.

  4. Confirm your selection in the pop-up window. The selected period is open in Zuora Revenue.