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ChrisS Subscription revenue...forecasting?
Hi, we need to show subscription revenue forecasting per month - for example, a 6-month service subscription for $4000 total, but for which the user would pay $666 monthly (and $670 on the last month).
When I build this within one Opportunity Product, all $4000 is showing up in the forecast in the first Product Month, instead of distributing across the 6-month forecast appropriately. The only way I can get it to distribute is by making every month its own product (Product 1 Month 1, Product 1 Month 2, etc.), which is unwieldy.
Can anyone point me in the right direction? (Also, it doesn't look like something Customizable Forecasting would help with this either?) Thanks!
When you create your opportunities do you add schedule to your product? If not
do schedule divide amount on multiple installements number of installemnts = 6 choose the starting date and you are there and your forecast should reflect this
Regards
Thanks for response, The_Fox.
Yes, I do enable the schedule and have manually updated it as well - but regardless of which method I use to divvy out the payments, they all show up with the initial Product Date (you can see this in the Opportunity by Product Report) instead of spread out over each month. Thoughts?
Chris,
Two things that may help ...
1. For reporting, you'd need to use a report which involves the opportunity, product and schedule to have the schedule date affect the results.
For example, if you build a custom report with
Opportunities / Opportunities with products
you get access to the fields in the opportunity and line items, but not in the schedule. Thus you get:
for the opportunity:
Close Date and
Amount
and for the products (or line items)
Product: Date and
Total Price
If instead, you use
Opportunities / Opportunities with products and schedules
then you'll also get the schedule fields, including:
Schedule Date
Schedule Amount
If you report from these values, you'll get information based on the schedules.
2. For the forecasts themselves, if you switch to the new customizable forecasting, you can specify the how the forecast reports and pages should handle amounts.
The old method based all forecasts on the close date (as you've seen). With the change, you can now configure your site to base forecasting on one of:
Opportunity close date
Product date
Schedule date
This is a single choice made for your entire site. However, if an item does not have a schedule, the forecast defaults to the product. And if a product does not have a date, it defaults to the opportunity close date.
Scot, you were exactly right.
I fell for the "Product: Month" field in the Opportunity Product report, but that only works if your revenue is based per oppty product, not based on schedule dates within that oppty product. Using Schedule Date in a custom report did the trick. (Shouldn't SFdc make this the out-of-the-box report since if there is no schedule, it would default to Product Date anyway?)
Customizable Forecasting on its way to me, will look forward to setting it up By Schedule. Thanks!!
hi not sure if this helps but I also manage subscriptions here (publishing company) and we take orders for example £1200 per year for a 12 month subscription but as it's a 12 month subscription we have to apportion this revenue over each month e.g. £100 per month. If you use the normal pipeline and forecasting in SF for a sale worth £1200 your forecast of rev will be £1200.
in this example if I close a sale worth £1200 in July, I only get £600 in revenue in 2007 from July-Dec (6 months) and the other £600 revenue in Jan-June 2008, £100 per month. I changed SF to relate the invoice value to the subscription month, i.e. July 07 - June -08 and used a formula to calculate how many months are left in the current year to apportion the revenue over.
Starting to ramble here, so hope it made sense. if you need more info email me nturner@bmjgroup.com and I can explain more or send you a screenshot.