Download page Define.
After analyzing the transaction and determining how you will recognize revenue, it is essential to define the specific plan for each good or service. This plan will determine the amount of revenue to be recognized each month during the revenue term and the specific accounts impacted as well.
For example, if a customer purchased 3 months of service for $300, your plan for recognizing revenue may look like:
To record this transaction within Conga, you need to:
For changes to existing agreements, skip step 1 and perform following steps within an existing agreement.
Create a Revenue Agreement to represent the transaction.
Create Agreement Fees (one or more) for each good or service sold as a part of the transaction.
- Generate Agreement Revenue Schedules that will allow you to distribute and forecast revenue for each Revenue Fee.