Introduction

For subscription-based products and services, revenue is realized over the course of time the product or service is delivered. Payment is received on a recurring basis, such as monthly or yearly. A good example of such a service is a SaaS-based software subscription. 

Using the Revenue Schedules feature: 

• Salespersons can assign the schedule of the revenue for each deal line item by setting Start Date, and Installments. 
• Inventory Managers can choose to create fixed intervals or let Sales persons edit the intervals.

Revenue scheduling is essential for any business that wants to reflect its financial performance accurately, comply with accounting standards, and make informed decisions.

Where are Revenue Schedule Fields used?

Revenue Schedules impact Deals, Products, and Services modules directly. 

For example, consider a Product or Service that is subscription based and has a Revenue Schedule. When this Product or Service is added to a Deal, the Deal record also captures the Revenue Schedule information from that Product or Service record.

You can find the fields related to the Revenue Schedule in the following two processes:

• Creating a product or service - Add Revenue Schedule information such as type, intervals, and installments.
  • Revenue Schedules Type: The two Revenue Schedule types available are:
    • Fixed: If selected, you cannot modify the revenue installments field of the deals line item.
    • Custom: If selected, you can modify the revenue installments field of the deals line item. 
  • Revenue Intervals: The five different revenue intervals available are:
    • Daily
    • Weekly
    • Monthly
    • Quarterly
    • Yearly 
  • Revenue Installments: You can enter a positive value between 0 to 100. The revenue installment amount is calculated by dividing the net price of the deal by the number of revenue installments (Amount = Net price/Revenue scheduled intervals).
• Creating a deal - Add Item details such as revenue start date and installments. 
  • Revenue Start Date: The revenue interval starts once the deal is closed. Therefore it must be greater than the expected closed date entered in the deal details. 
    • If the expected close date is selected in a deal record, the Revenue Schedule start date has to be greater than or equal to the expected close date.
    • If the expected close date is not selected in a deal record, the Revenue Schedule start date is independent of the expected close date.
  • Revenue Installments: Is copied from the Revenue Schedule information of the product.

Revenue Schedule Status

The Revenue Schedule status depends on the state of the Deal. The Revenew Schedule of a Product or Service in a Deal can only be modified inside the Deal record only until the Deal is closed.

Following are the different statuses of a Revenue Schedule:

• Pipeline: The status of the Revenue Schedule is set as Pipeline when a Deal is ongoing and is in an Open state. 
• Booked: The Revenue Schedule status changes to Booked when a Deal is won and is in Closed Won state.
• Lost: The Revenue Schedule status changes to Lost when a Deal is lost and is in a Closed Lost state.

Feature Availability

Benefits

The following are the benefits of using the Revenue Schedules add-on:

• Helps you manage cash flows effectively by accurately forecasting future revenue.
•  Ensures revenue is recognized in the correct period, providing an accurate picture of your organization's financial performance.
• Provides you with better information for decision-making, including resource allocation, investment decisions, and business relationships.

In this article, you will learn about the following:

• Installing Revenue Schedule 
• Enabling Revenue Schedule
• Adding Revenue Schedule information to the product, service, and deal.

Key Terminology

Installing Revenue Schedule 

The Revenue Schedule feature is available in Vtiger CRM as an add-on and has to be installed from the Extension store.

Follow these steps to install the Revenue Schedule add-on:

1. Log in to your CRM account.
2. Click the User Menu in the top right corner.
3. Click Settings.
4. Scroll down to the Extensions store.
5. Click Add-Ons.
6. Search for Revenue Schedule.
7. Click Buy.
8. Click Install once the subscription is added to your account.

Or

1. Log in to your CRM account.
2. Click the Main Menu.
3. Click Add-Ons.
4. Search for Revenue Schedule.
5. Click Buy.
6. Click Install once the subscription is added to your account.

You have successfully installed the Revenue Schedule add-on. The add-on will be billed every month.

Enabling the Revenue Schedule Feature

The Revenue Schedule feature is enabled by default for Deals, Products, and Services upon installing the add-on from the Extension Store. You can disable the Revenue Schedule feature by unchecking the checkbox.

You can disable  Revenue Schedule from the following:

• Settings page
• Products module
• Services module
• Revenue Schedule module

Accessing the Revenue Schedule checkbox from the Settings page

Follow these steps to access the Revenue Schedule checkbox:

1. Log in to your CRM account.
2. Click the User Menu.
3. Click Settings.
4. Look for Marketing and Sales.
5. Click Product Schedule.
6. Check or Uncheck the Checkbox to enable or disable the Revenue Schedule feature.

Accessing the Revenue Schedule checkbox from the Products module

Follow these steps to access the Revenue Schedule checkbox:

1. Log in to your CRM account.
2. Click the Main Menu.
3. Click Inventory.
4. Click Products. 
5. Click the Customize icon in the top right corner.
6. Click Product Schedule.
7. Check or Uncheck the Checkbox to enable or disable the Revenue Schedule feature.

Accessing the Revenue Schedule checkbox from the Services module

Follow these steps to access the Revenue Schedule checkbox:

1. Log in to your CRM account.
2. Click the Main Menu.
3. Click Inventory.
4. Click Services. 
5. Click the Customize icon in the top right corner.
6. Click Product Schedule.
7. Check or Uncheck the Checkbox to enable or disable the Revenue Schedule feature.

Accessing the Revenue Schedule checkbox from the Revenue Schedule module

Follow these steps to access the Revenue Schedule checkbox:

1. Log in to your CRM account.
2. Click the Main Menu.
3. Search for Revenue Schedule.
4. Click the Customize icon in the top right corner.
5. Click Product Schedule.
6. Check or Uncheck the Checkbox to enable or disable the Revenue Schedule feature.

Adding Revenue Schedule Information

You can add information for a Revenue Schedule while creating a product or a deal.

While Creating a Product

Follow these steps to add Revenue Schedule information while creating a product:

1. Log in to your CRM account.
2. Click the Main Menu.
3. Click Inventory.
4. Click Products.
5. Click +Add Product.
6. Enter all the required information for the product.
7. Under the Revenue Schedule Information section, enter or select information for the following:
   1. Revenue Schedule: Enable the Checkbox to enable the Revenue Schedule for the product.
   2. Type: Select the type of Revenue Schedule from the drop-down.
   3. Intervals: Select the revenue intervals from the drop-down. 
   4. Installments: Enter the number of revenue installments.
8. Click Save.

To know more about Products, click here.

While Creating a Service

Follow these steps to add Revenue Schedule information while creating a service:

1. Log in to your CRM account.
2. Click the Main Menu.
3. Click Inventory.
4. Click Services.
5. Click +Add Service.
6. Enter all the required information for the service.
7. Under the Revenue Schedule Information section, enter or select information for the following:
   1. Revenue Schedule: Enable the Checkbox to enable the Revenue Schedule for the product.
   2. Type: Select the type of Revenue Schedule from the drop-down.
   3. Intervals: Select the revenue intervals from the drop-down. 
   4. Installments: Enter the number of revenue installments.
8. Click Save.

To know more about Services, click here.

While Creating a Deal

Follow these steps to add Revenue Schedule information while creating a deal:

1. Log in to your CRM account.
2. Click the Main Menu.
3. Click Sales.
4. Click Deals.
5. Click +New Deal.
6. Enter all the required information for the deal.
7. Under the Item Details section, enter or select information for the following:
   1. Item Name: Select an inventory item from the drop-down.
   2. Quantity: Enter the number for the quantity of the item.
   3. List Price: Enter the price of the item.
   4. Duration Hours: Enter the duration hours of the item.
   5. Revenue Start Date: Select the starting date of the revenue.
   6. Revenue Installments: Field value is fetched from the Revenue Schedule Installment field of the product or service record added to the deal.
   7. Total: Filled automatically (Quantity multiplied by List Price).
   8. Net Price: Filled automatically (Total subtracted by Discount, if any). 
8. Click Save.

Once the deal is created, you can find the details of the revenue schedule under the Detail View of the deal record.

To know more about Deals, click here.