Revenue Recognition Life cycle is the process used to manage the revenue of a deal from start to finish.
While the details of the process may vary between companies, every company follows the same major stages.
Revenue Recognition is designed around Revenue Life Cycle.
The phases of Revenue Recognition Life Cycle are:
- Understand - understand the essence of business transaction and determine which Revenue Recognition Policies apply to each good or service in the transaction.
- Define - define the specific plan including the amount of revenue to recognize and the specific accounts impacted for each good or service.
- Manage - manage the maintenance activities for each product or service. This includes creating adjustments to revenue, recording usage, processing up-sells or down-sells, or cancellations.
- Post - post the amount of revenue earned during the period to the GL during accounting close.
- Reconcile - reconcile your deferred revenue and revenue accounts and ensure accuracy for financial reporting.
Report - report the company's financial position and plan appropriately.
Logging in to Revenue Recognition
Log in to your Salesforce.com org to access Revenue Recognition.
Do not use the Back button on your browser when using Revenue Recognition.
Before you log in to Revenue Recognition, make sure you meet the following criteria:
You have installed all of the required Revenue Recognition module packages.
You have login credentials provided by Conga.
To log in to Revenue Recognition
Go to http://www.salesforce.com.
If your organization is using a sandbox or test environment to access Revenue Recognition (for example, if you are doing user acceptance testing), go to http://test.salesforce.com instead.
In the toolbar at the top of the page, click Login. The login page opens.
Enter your User Name and Password, and click Log in to Salesforce.
You have successfully logged into Revenue Recognition.
Navigate to the Force.com App Menu and select Apttus Revenue Management.
You are ready to start recognizing your revenue in Apttus Revenue Management.