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Close Process Dashboard

Zuora

Close Process Dashboard

Use the Close Process Dashboard to get a high-level understanding of financial data for the current open period and to identify the data problems and take appropriate actions early.

Prerequisite

To access the Close Process Dashboard, make sure the following requirements are met in Zuora Revenue:

  • Zuora Integrated Authentication (Zuora SSO) is enabled for the Zuora Revenue tenant.
  • The Enable_Close_Process_Dashboard profile is enabled. Navigate to Setups > Application > Profiles to examine or edit the value of this profile.
  • The current user role has appropriate access to this dashboard. The role privileges are usually configured by the system administrator on the Setups/Security/Roles page.

Overview

The Close Process Dashboard consists of multiple tabs that help you to identify problems across the major phases within the month-end process. The Data Validation tab is for the upstream data validation phase, and the Accounting Analysis tab is for the accounting reconciliation phase. The sections below provide details about the data presented in each tab.

Data Validation

Use the Data Validation tab to see whether there are upstream data issues for the current period. Whenever there is an error or warning reported on this tab, use the VIEW column to find the summary of the validation issue and the appropriate actions you can take to fix the data issues.

Item name Description
Line Stage Exceptions

Represents the transaction lines (including orders/ and billing lines) from the upstream systems that are impacted by data validation errors. These records are applicable for the current open period based on the RC Line Created Date field.

Click Summary in the VIEW column to view the number of transaction lines that are stamped with individual error messages. Click Details to open the Error Transactions page to find the line-level details of the exceptions or errors.

Unprocessed Events Represents the number of event records, such as revenue release events, which are not processed yet in the current open period based on the Event Effective Date field. 
Orphan Transactions

Represents transaction lines that are delinked from existing revenue contracts.

Click Summary in the VIEW column to view the number of orphan transaction lines. Click Details to open the Orphan Transactions page to review the impacted records at the POB, line, or revenue contract level.

Revenue Holds

Displays the number of revenue holds that are applied and need assessment to be released. You must review these holds and take appropriate actions.

Click Summary in the VIEW column to the revenue value that is impacted by manual holds and by system-applied holds. Click Details to open the Holds page in Workbench where you can review the impacted records at the POB, line, or revenue contract level to take appropriate actions.

SSP Exceptions

Represents the sales order (SO) lines for which the fair value (also known as standalone selling price) cannot be derived based on fair value information that is available in Zuora Revenue. The allocation and adjustment revenue calculation will be impacted for the SO lines and their revenue contracts.

Click Summary in the VIEW column to view the number of SO lines that are impacted and the total Extended Sell Price. Use the SSP Exception Report to review the line-level exceptions.

Auto POB

Indicates whether there are transaction lines to which the Auto POB template is applied. These transaction lines must be assigned a valid POB template for further revenue processing.

Click Summary in the VIEW column to view the number of SO lines that are impacted and the total Extended Sell Price.

Unreleased POB

Displays the number of POB lines that have unreleased revenue in the following circumstances. It provides a breakdown of the number of POB lines and total unreleased amounts for each circumstance. If required, you might have to manually release the revenue on these lines.

  • The POB line has passed the POB expiry date but is not 100% released.
  • The POB line has passed Revenue End Date but is not 100% released.
  • The POB line is 100% released but the Unreleased Amount (DEF_AMT) is not 0.
  • The release percentage of the Upon Booking POB line is not equal to 100%.

In 37.006.00.00, the Details link in the VIEW column is not enabled for SSP Exceptions, Auto POB, and Unreleased POB. It will be available in the future release.

Bookings Data

The Bookings Data section provides the following information. You can also open the Bookings Report by clicking the vertical three dots on the right side of this section.

  • Total Sales Order Lines: The number of sales order lines in the current period.
  • Total External Sell Price: The sum of the Ext. Sell Price values across all sales order lines in the current period.
  • Total Ordered Quantity: The sum of the Ord Qty values across all sales order lines in the current period.
  • Transactional Currency: The transactional currency that is used for the booking data.

Billing Data

The Billing Data section provides the following information. You can also open the Billings Report by clicking the vertical three dots on the right side of this section.

  • Invoice Lines: The number of all invoice lines in the current period.
  • Total Invoice Amount: The sum of the Invoice Amount values across all invoice lines.
  • Total Billed Quantity: The sum of the Ord Qty values across all invoice lines.
  • Transactional Currency: The transactional currency that is used for the billing data.

Accounting Analysis 

Zuora Revenue provides the Accounting Analysis tab to automate the common reconciliations steps within the revenue close process. In this tab, any entries that are not available for posting within the period will be identified as the variance. Revenue users can review the variance in real-time and take action as needed.

To get the details about the corresponding revenue contracts, simply click the variance amount in each table. The CONSOLIDATED VARIANCES link on the top right corner of each table also provides a breakdown of the variance amount by the entity and by the account segment. It is recommended to check this tab and reconcile the reports on a regular basis throughout the period, which can help reduce period-end processing time.

Revenue Report Analysis 

This table represents the summary level of the Revenue Insight Report, Waterfall Report, and activities in the RC Rollforward and Unbill Rollforward Report for the current period by revenue type. Reconciliations between the Accounting Detail Report and the three reports are also automated in the table to identify any variance.

The reconciliation result is displayed in the Variance column. If the validation passes, $0 is displayed; otherwise, the variance amount is displayed in the table and an exception flag is displayed next to the table name. Click the variance value to open the page for line-level details. When all validations pass, a checkmark is displayed next to the table name.

revenue-report-table.png

The data definitions for these reports are explained as follows. All reports are run with the period filter applied for the current open period.

Report name Contractual Revenue Adjustment Revenue Variable Considerations MJE
Accounting Detail Report

The sum of the journal entries that were posted/eligible to be posted in the current open period with the following flags:

  • Schedule Type Flag = R

The sum of the journal entries that were posted/eligible to be posted in the current open period with the following flags:

  • Schedule Type Flag = A

The sum of the journal entries that were posted/eligible to be posted in the current open period with the following flags:

  • Schedule Type Flag = V

The sum of the journal entries that were posted/eligible to be posted in the current open period with the following flags:

  • Schedule Type Flag = MJE
Revenue Insight Report The sum of the Rev Activity column with the MJE Flag as N The sum of the Adjustment Rev column with the MJE Flag as N The sum of the VC Activity column with the MJE Flag as N The sum of Ttl Rev Activity column with the MJE Flag as Y
Waterfall Report

The total amount on the current period column in the Waterfall Report (WF Type = Revenue).

The total amount on the current period column in the Waterfall Report (WF Type = Adjustments).

The total amount on the current period column in the Waterfall Report (WF Type = VC Contra Revenue).

The total amount on the current period column in the Waterfall Report (WF Type = MJE).

Roll forward Reports

(RC Roll forward & Unbilled Roll forward Report)

The sum of the CL Releases column in the RC Rollforward Report (excluding the VC activity) + The Net Unbilled Revenue Activity (for lines with Right to Bill = Y)

where,

The Net Unbilled Revenue = Sum of the Unbilled RevenueUnbilled Billing columns in the Unbilled Roll forward Report (for lines with Right to Bill  = Y)

The sum of the Alloc Releases column in the RC Rollforward Report with the period filter applied for the current open period. The sum of the CL Releases column in the RC Rollforward Report (VC activity) The sum of the Releases column in the RC Rollforward Report with the MJE Flag as Y

Revenue Contract Rollforward Analysis 

This table represents the summary level of the RC Rollforward Report for the current period by revenue type. The following reconciliation steps required by the close process are automated to identify any variances:

  • Accounting Details Report = Current period activities (Addition + Released)
  • Current Open Period Beginning Balance = Prior Period Ending Balance

The reconciliation result is displayed in the Variance column. If the validation passes, $0 is displayed; otherwise, the variance amount is displayed in the table and an exception flag is displayed next to the table name. When all validations pass, a checkmark is displayed next to the table name.

rc-rollforward-table.png

The data definitions for these reports are explained as follows. Reports are run with the period filter applied for the current open period.

Report name Contractual revenue Adjustment revenue VC Revenue Journal Entries (JE)
Accounting Detail Report

The sum of journal entries that were posted and will be posted in the current open period with the following flags:

  • Schedule Type Flag = R

The sum of journal entries that were posted and will be posted in the current open period with the following flags:

  • Schedule Type Flag = A

The sum of journal entries that were posted and will be posted in the current open period with the following flags:

  • Schedule Type Flag = V

The sum of journal entries that were posted and will be posted in the current open period with the following flags:

  • Schedule Type Flag = MJE
RC Rollforward Report

For lines with the MJE Flag as N or Null:

  • Beginning Balance = The sum of the CL Begin Balance column
  • Additions = The sum of the CL Additions column
  • Releases = The sum of the CL Releases column
  • Ending Balance = The sum of the CL Ending Balance

VC activity and balances are excluded, which are displayed in a separate row.

For lines with the MJE Flag as N or Null:

  • Beginning Balance = The sum of the Alloc Begin Balance column
  • Additions = The sum of the Alloc Additions column
  • Releases = The sum of the Alloc Releases column
  • Ending Balance = The sum of the Alloc Ending Balance column

The amount of  VC activity and balances that are included in the Contract Liability (CL) activity and balances in the report.

Note: The current report will display the CL columns including the VC activity and balances.

For lines with the MJE Flag as Y:

  • Beginning Balance = The sum of the Total Begin Balance column
  • Additions = The sum of the Total Additions column
  • Releases = The sum of the Total Releases column
  • Ending Balance = The sum of the Total Ending Balance

Unbill Revenue Rollforward Analysis 

This table represents the summary level of the Unbill RollForward Report for the current period by revenue type. The following reconciliation steps required by the close process are automated to identify any variances:

  • Accounting Details Report = Current period activities (Unbilled Revenue + Billing)
  • Current Open Period Beginning Balance = Prior Period Ending Balance

The reconciliation result is displayed in the Variance column. If the validation passes, $0 is displayed; otherwise, the variance amount is displayed in the table and an exception flag is displayed next to the table name. When all validations pass, a checkmark is displayed next to the table name.

unbill-revenue-rollforward.png

The data definitions for these reports are explained as follows:

Report name Contractual revenue Journal Entries
Accounting Detail Report

The sum of journal entries that were posted and will be posted in the current open period with the following flags:

  • Schedule Type Flag = R
  • Unbill Flag = Y

The sum of journal entries that were posted and will be posted in the current open period with the following flags:

  • Schedule Type Flag = MJE
  • Unbill Flag = Y
Unbill RollForward Report

For lines with the MJE Flag as N or Null:

  • Beginning Balance = The sum of the Unbilled Begin Balance column
  • Unbilled Revenue = The sum of the Unbilled Revenue column
  • Billing = The sum of the Unbilled Billing column
  • Ending Balance = The sum of the Unbilled Ending Balance

For lines with the MJE Flag as Y:

  • Beginning Balance = The sum of the Unbilled Begin Balance column
  • Unbilled Revenue = The sum of the Unbilled Revenue column
  • Billing = The sum of the Unbilled Billing column
  • Ending Balance = The sum of the Unbilled Ending Balance

Billed Revenue Rollforward Analysis

This table represents the summary level of the Billing RollForward Report for the current period by revenue type. The following reconciliation steps required by the close process are automated to identify any variances:

  • Accounting Details Report = Current period activities (Addition + Released)
  • Current Open Period Beginning Balance = Prior Period Ending Balance

The reconciliation result is displayed in the Variance column. If the validation passes, $0 is displayed; otherwise, the variance amount is displayed in the table and an exception flag is displayed next to the table name. When all validations pass, a checkmark is displayed next to the table name.

billed-revenue-rollforward.png

The data definitions for these reports are explained as follows:

Report name Contractual revenue
Accounting Detail Report

The sum of journal entries that were posted and will be posted in the current open period with the following flags:

  • Schedule Type Flag = R
  • Unbill Flag = N
Billing RollForward Report
  • Beginning Balance = The sum of the CL Begin Balance column
  • Additions = The sum of the CL Additions column
  • Releases = The sum of the CL Releases column
  • Ending Balance = The sum of the CL Ending Balance column