Defining Renewable Products, Templates, and Contract Lines
This section provides an overview of renewal actions, renewal plan templates, and renewable contract lines and lists the pages used to define renewable products, templates, and contract lines.
|
Page Name |
Definition Name |
Usage |
|---|---|---|
|
Product Definition - Contracts Options Page |
PROD_CONTRACTS |
Define a product or service as renewable for use on your contract lines. You can optionally select a renewal plan template on this page.
|
|
CA_RNW_TEMPLATE |
Create renewal plan templates to use on your contract lines. |
|
|
CA_HOLD_RSN |
Define hold reasons by SetID to use when placing renewal cycles on hold. |
|
|
CA_OFFERING_SRCH |
Select renewable products to add to your contract lines. Add products to contract lines, and specify which of those products are renewable. |
You must designate a product as renewable when defining the product on a contract line to associate the product with a renewal plan. At that time, you select the renewal action (manual versus automated), and you can optionally select a renewal plan template. You can designate only fixed amount products (those with amount or percent price types) as renewable.
This section discusses:
Renewal actions.
Renewal plan templates.
Renewable contract lines.
Renewal Actions
When defining a fixed amount product, you designate the product as renewable and select a renewal action of Manual or Automatic. You designate the renewal action on the Product Definition - Contracts Options page; however, you can override the renewal action when adding the product to a contract line on the Add Contract Lines page.
Term |
Definition |
|---|---|
Manual |
A manual renewal requires you to confirm with the customer before converting the renewal to a new sale. To process a renewal manually, click the Approve button on the Define Renewal Cycle page. Before processing renewals, you may want to click the Reprice button to ensure that the price is correct. |
Automatic |
Automatic renewals enable you to take a previously successful sale of a renewal and convert it to a new sale without the need for customer confirmation. To have the system process a renewal automatically, click the Process Renewals button on the Review Renewals page or use the Process Renewals run control page. |
Renewal Plan Templates
Renewal plan templates automate renewal processing through the creation of renewal plans and cycles and the assignment of contract lines to renewal cycles. When a renewal plan is created, the system assigns the first cycle to the original contract line. All renewed products are assigned to the next cycle upon approval of the previous cycles.
Create renewal plan templates on the Renewal Plan Template page.
Note: You can assign renewal templates to fixed-amount products only.
With renewal templates, you can:
Choose a default renewal template when setting up a renewable product.
Specify whether or not to ready the billing and revenue plans upon renewal processing.
Create a renewal plan manually by clicking the Create Plan button.
Select an accounting distribution option to determine whether to create the accounting distribution for the new contract line from the default or the source renewable contract line.
Select the amounts the system will pass to PeopleSoft Enterprise Pricer to calculate the billing amount and revenue amount for the renewal line.
The rules for renewal templates are:
They apply to fixed-amount renewals only.
You can set up renewal templates before defining the renewal product.
If you specify a renewal template for a product, and the start and end dates are defined on the contract line, the system creates a renewal plan when the contract line is saved.
The system links the first cycle of this plan to the contract line.
Renewable Contract Lines
Select a renewable product on the Add Contract Lines page. The setup steps for the contract line are the same as those for nonrenewable contract lines, with two exceptions:
For renewable contract lines, you must enter a start date and an end date for the renewable contract line.
For renewable contract lines, you cannot combine like renewal templates. If you want multiple contract lines that you are about to add to a contract to be assigned to the same renewal plan, you must:
Manually create a new renewal plan with the cycles you need using the Define Renewal Plan component.
Manually assign all desired and already created contract lines to the first cycle in that new renewal plan using the Assign Cycles component.