Revenue Agreements represent the agreements between the company and the customer. All revenue associated with that agreement can be found in Revenue Agreements. For example, you can find a summary of the revenue of all fees associated with the agreement. You can manage the calculation of earned and forecasted revenue for this agreement.

You can perform following actions from the Revenue Agreements object:

  • Generate and Rollback Revenue
  • Generate and Rollback Forecasts
  • Manage Agreement Fees
  • Manage Revenue Schedules
  • Manage Products and Milestones
  • Manage Prepays and True-ups
  • Manage Revenue and Forecast snapshots

A new Revenue Agreement can be created or you can edit an existing agreement.

Creating Agreements

Revenue Agreements can be created from the Agreements tab. You have to set the Record type has to RevRec.

To create an Agreement

You must have system administrative access into your Salesforce org.

  1. Click the Agreements tab, and click New.

  2. Select a record type from the Record type of new record drop down menu.

  3. Click Continue.

  4. Complete the following fields as shown in the table. 

    Note

    The following table displays Agreement Fields related to Revenue Recognition product. For a list of all the Agreement Fields, please refer Agreement Fields in the Contract Management User Guide.

    Field NameInstalled PackageDescription
    Agreement NameStandard fieldName of the agreement
    Created byStandard field (System Generated)Name of the user who created the agreement.
    CurrencyStandard fieldCurrency in which the revenue will be displayed.
    Modified byStandard field (System Generated)Name of the user who modified the agreement.
    OwnerStandard field (System Generated)Owner of the agreement.
    Record TypeStandard field

    Record type for the agreement.This field can not be edited.


    For ASC-605, Record Type is set to RevRec.

    For ASC-606, Record Type is set to ASC606.

    Related OpportunityConga Contract Lifecycle ManagementRelated to the agreement. 
    Legal Entity IdConga Configuration & PricingId of the Legal Entity
    Related Quote / ProposalConga Quote-CLM IntegrationQuote/ Proposal related to the agreement.
    Status CategoryConga Contract Lifecycle ManagementStatus Category of the revenue agreement. Select In Effect for Revenue Recognition product.
    StatusConga Contract Lifecycle ManagementStatus of the revenue agreement. Select Activated for Revenue Recognition.
    Agreement Start DateConga Contract Lifecycle ManagementStart Date of the revenue agreement term.
    Agreement End DateConga Contract Lifecycle ManagementEnd Date of the revenue agreement term.
    RevRec ActiveApttus Revenue ManagementFlags the agreement for RevRec. Revenue Schedules will not be created for this agreement if this checkbox is cleared.
    RevRec Forecast ActiveApttus Revenue ManagementFlags the agreement for RevRec forecasting. Revenue Forecasts will not be generated if this checkbox is cleared.
    RevRec Forecast End DateApttus Revenue ManagementEnd date of RevRec forecasting.
    RevRec Forecast Period Date Apttus Revenue ManagementThe last day of the period revenue forecasts have been generated through.
    RevRec Forecast Period NumberApttus Revenue ManagementCounter of last forecast period.
    RevRec Period DateApttus Revenue ManagementLast day of the current revenue period.
    RevRec Period NumberApttus Revenue ManagementCounterofthe current revenue period.
  5. Click Save.