Scope
How to import orders and invoices directly in RevRec?
How to create Sales Orders in RevRec?
How to create Invoices in RevRec?
How to bulk upload orders and invoices in RevRec?
Summary
Orders, invoices, and delivery logs can all be automatically imported into RevRec via our Sync Integrations.
There are two options to create Sales Orders in RevRec
1. Individual Sales Orders via UI
2. Bulk Upload via Sync
Solution
The easiest way to get started (or for those that have a small sales volume) is to use the UI to directly enter and track orders. Note, that you just need to provide the sales transaction and invoice data and RevRec will handle the rest automatically.
During the entry, you will notice that the product we have added does not have a stand-alone selling price. In this case, it will prompt you to add the SSP and it will use it when it creates the revenue plan.
1. Individual Sales Orders via UI
To create a new Sales Order, follow the steps below:
Click Sales Order > +New Order.
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On the Sales Order Details page, enter the order details.
Select the customer from the drop-down list (if not updated, you can create a new customer by typing in the name)
You will get a prompt to create a new customer. Customer ID can be set manually if not filled will be created automatically, Phone number, Address, Currency & Pending Collectibility (Enable the Pending Collectibility option if collectability is doubtful from the customer)
Then fill in the other required fields.
Mandatory
- Order Date
- Order Number
Optional
- Sales Person
- Order Name
3. Click Next.
On the Sales Order Item(s) section, enter the item details.
Required item fields
Mandatory
- Product Name
- Quantity
- Unit Price
Optional
- Item number
- List price
- Reference invoice number
List price is valued as maximum retail price and Unit price is considered as a discounted price from list price (if mentioned).
- When the associated product is configured with the Proportional Performance method of revenue recognition, you can specify Delivery settings that will override the settings of the associated product.
As per the Product configuration, you can either set the Delivery start date as Order Date or Specific Date by mentioning Start and End Date.
5. Click Save.
Additionally, you can add new sales order items.
Once you save the data, RevRec processes the revenue recognition for the record added.
Then you can create Invoices by navigating from Customers > Invoices
Required fields to be updated
Mandatory
- Invoice Number
- Invoice Date
- Linked Sales Order Id
Then click on Add New Invoice Item and enter the Product Name, Amount, and Description (if required).
The Lock icon helps to unlock the record and edit fields.
2. Bulk Upload via Sync
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On the Sync page, click the Lock icon.
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Click the Import Data icon, and specify a Job Name for the upload job.
Drag and drop your file or click Upload to upload the file from your computer.
Click Import for RevRec to process your file.??
Once the upload is complete, you will see a job created on the Sync UI page. Details for different jobs created are as follows:
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If you have not set any accounting period yet, then all the jobs created will show up in the Conversion Data tab.
If you have already set the accounting period, all the jobs created will show up in the Sync Jobs tab.
You can refer to this link to know about the required fields for bulk upload.
Once the order and the invoice information have been provided with the SSP the revenue plan is created automatically. You can see the details on the revenue in the revenue plan.
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