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Sales > Accounts > Managing Accounts > Tracking Revenue Based on Accounts
Tracking Revenue Based on Accounts
Before you begin. This feature is specific to Oracle CRM On Demand Financial Services Edition.
You can track revenue information for each of your accounts, which allows your company to base its forecasts on account revenue. To do so, you add revenue records to accounts.
Adding revenue records to accounts allows you to:
- Track products, product categories, or revenues forecasted for each account
- Base your company's forecasts on account revenue
If your company bases its forecasts on accounts, only records meeting these criteria are included in the forecast:
- Revenue record for the account must have a Status of Open, Pending, or Closed.
- Revenue record for the account must have the Forecast field checked.
- Revenue record cannot be linked to an opportunity.
Before you begin. Your company needs to inform you of the forecasting method that it wants to use. Companies can forecast revenue for any of the following: opportunity revenue, opportunity product quantity and revenue, account revenue, or contact revenue. The company forecasting method determines which fields you need to fill in when adding revenue records to accounts.
To add revenue to accounts
- Select the account.
For instructions on selecting accounts, see Finding Records.
- On the Account Detail page, scroll down to the Revenues section and do one of the following:
- To add a revenue record, click Add.
- To update revenue information, click the Edit link next to the existing revenue record.
- On the Revenue Edit page, complete the Revenue Fields.
NOTE: If your company does not use account revenue for its forecasts, it is best to leave the Forecast check box blank on the Revenue page.
- Save the record.
Revenue Fields
The following table describes field information for revenue. Your company administrator can add, relabel, or delete fields, so the fields you see might differ from those in this table.
NOTE: Account and Contact Revenue forecasting require that Revenues be enabled for both Accounts and Contacts. This functionality must be set up for your company. For more information, contact your company administrator.
CAUTION: If your company bases its forecasts on account or contact revenue, the information that you enter for revenue can affect its calculations.
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Field
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Description
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Key Product Information
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Start/Close Date
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For an account or contact, the expected revenue close date. For recurring revenue, the start date. For recurring revenue with a close date that ends on the last day of the month and a start date of mid-month, add one record for the full recurring price and another record for the prorated order.
For example: You start supplying disposables to a company or client on May 15th. After that, you will be sending $500 worth of disposables at the end of each month through the end of the year.
For the mid-month order, add a record with these values:
Revenue = $250
Quantity = 1
For the recurring order, add a second record with these values:
Revenue = $500
Quantity = 1
Frequency = Monthly
#of Periods = 7 (June through December).
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Product Name
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Only products marked Orderable by your company administrator can be selected.
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Product Category
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Category of the product.
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Part #
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Number carried over with the product definition. Read-only.
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Forecast
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Indicator to include this product in forecasting totals.
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Type
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Default values are Actual, Shipped, Billed, Booked, Projected, and Quota.
NOTE: The Type you set applies to the revenue record. Another Type field (read-only field), which is populated with the product information, might also appear on this page.
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Status
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If your company calculates forecasts on accounts or contacts, you must set the Status to Open, Pending, or Closed for this record to be included in the forecasts.
NOTE: The Status you set applies to the revenue record. Another Status field (read-only field), which is populated with the product information, might also appear on this page.
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Quantity
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Number of units the customer orders. For a recurring product, enter the quantity of the product per recurring period. For example, if you send 10 printer cartridges each month, enter 10 here.
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Revenue
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Quantity multiplied by Price. The revenue cannot be overwritten. If the Forecast check box is selected, this revenue amount contributes to your company's forecast totals.
TIP: To forecast a specific revenue value, independent of the product or product category, set the quantity to 1 and the price equal to the revenue value.
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Description
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Additional information about the product. Limit of 16,350 characters.
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Recurring Revenue Information
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Frequency
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Indicates the frequency for a recurring product.
The term bi-weekly means once every two weeks.
When you populate this field, you must also populate the # of Periods field.
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# of Periods
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The number of periods for a recurring product. Recurring revenue can support a maximum of 260 periods. The length of time that is covered by the total number of periods varies based on the frequency selected (in the Frequency field). For example, if you have weekly recurring revenue, you can track revenue for up to five years.
NOTE: When you populate this field, you must also populate the Frequency field.
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Additional Information
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Owner
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Person assigned to this revenue record. Generally, the owner can update record details or delete the record. However, access levels can be adjusted to restrict or expand a user's access.
This value affects which records are included in reports you or your managers run (from Reports and Dashboard pages).
Each record has only one owner. However, account, contact, and opportunity records can be shared with other employees. For instructions, see Sharing Records (Teams).
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