4.3.2. Record Customer Sale Order manually

Sales Module ‣ Sales ‣ Sale Order ‣ Create SO accordingly (Note to choose a suitable Quotation template) ‣ Confirm SO

A draft Subscription will be generated automatically once you confirm SO.

If your Sale Order is directly recorded by online Customers confirmation you can skip these above manual steps.

Go to Subscriptions Module ‣ Subscriptions ‣ Choose the Subscription ‣ Review all information and revise if needed (especially Start Date, End Date & Next Invoice Date).

Create Invoice from Sale Order:

Sales Module ‣ Invoicing ‣ Sales to Invoice ‣ Choose SO ‣ Create Invoice ‣ Validate

A draft Deferred Revenue will be generated accordingly.

Go to Accounting Module ‣ Adviser ‣ Deferred Revenues ‣ Choose the Deferred Revenues ‣ Review and revise information if needed 

‣ Compute Revenue ‣ Confirm 

‣ Deferred Revenue journal entries for next period will be generated automatically

This is one loop of Subscription. The loop will continue until the End Date of Subscription. On that date, the Subscription will be sent to Subscription to Renew. What you need to do is Renew the Subscription ‣ A new SO will be generated automatically and start the next loop.

4.3.1. Prepare & Configuration

Step 1: Firstly, you need to create your subscription product:

Subscription Module ‣ Subscriptions ‣ Subscription Product ‣ Create

You can publish your product on website for your customers shopping online or record Sale Order manually.

See How to publish product on website.

‣ Create Product Variant if needed ‣ Save

‣ Set Variant Prices

You can use the Navigation button to set sequences of price calculation.

Step 2: Create Deferred Revenue Type

Accounting ‣ Configuration ‣ Deferred Revenue Type ‣ Create

Tip: You should use a separate journal to track deferred revenue entries.

Step 3: Create Subscription Template

Subscription Module ‣ Subscriptions ‣ Subscription Templates ‣ Create ‣ Choose Deferred Revenue Type respectively

Step 4: Create Quotation Template

Sale Module ‣ Configuration ‣ Quotation Templates ‣ Create ‣ Choose Contract Template (Subscription Template)

 

4.2. Subscription Workflow

Customers subscribe on website ‣ SO is generated automatically 

‣ Based on the settings of Contract Template set at Quotation template of SO, a Draft Subscription will be generated automatically

‣ Edit info (especially End date) on that Subscription if necessary

‣ Validate the Subscription

‣ Manually create an invoice from SO at Sale Module ‣ Validate the Invoice

‣ Based on the settings of Deferred Revenue Type on Subscription Template (Contract Template) a Deferred Rev enue will be generated automatically.

‣  Next invoice will be generated automatically based on the Subscription until the End Date of Subscription

‣ The Subscription will be sent to List of Subscription to Renew by the End Date

‣ Once we renew the Subscription, a SO will be generated accordingly.

‣ Manually create 1st Invoice and start next loop.

4.1. Functionalities

  • Automated contract management 

Automatic creation of clear contracts: Confirm a quotation with recurring products and the contract is created with the correct settings and products. 

Automatic customer invoicing: Speed up the invoicing process by automating it after easily setting up your customers’ data. Accounting is automatically up-to-date, including invoice creation, validation, and payment encoding. 

  • Automatic tax handling 

Taxes are managed automatically in real time based on your settings for regions and rates. 

Automatic payments. 

  • Customer satisfaction 

Easy signups: Send sales orders and contract management page directly to customers through secured URL access.  

No login required: No need to log in or even to create an account on your website to browse contracts and quotations.

User-friendly customer portal: Give access to customers to all their data at a glance and in detail: running contracts; interactive quotes allowing customers to get in touch with the salesperson; orders; and invoices (pdf format).

Customers editing option: Let customers modify contact details, and fine-tune access rights to contract options as well. Display extra options customers can simply add or remove from the contract. 

Clear overview: Let customers browse through all the details of their online contract: invoice address; recurrence; next invoice date; plan; options; payment. 

Easy payment and customer invoicing: Let customers access automatic payments upon credit card registration and receive invoices by email automatically. 

Contracts closable by customer: Customers can close the contract themselves and provide a reason for their decision.

No data lost, ever: Information is safely stored, even when a payment doesn’t go through. 

  • Analytics and forecasts 

Monthly Recurring Revenue: New, Churned, Expansion, Down and Net New MRR. Automatic recognition of revenues as they incur.

Understand your business’ growth: Forecasted annual MRR growth and forecasted annual contracts growth.

KPI tracking: Net and Non-recurring revenue, Average revenue per contract, Annual run-rate, Lifetime value, Logo churn, Revenue churn and Contracts.

  • Sales performance analysis 

Analyze per Salesperson: Examine each sales team member’s impact on your MRR for New, Churned, Expansion, Down and Net New MRR per Salesperson.

  • Sales life made easier 

Create templates: Save time by creating and use contract templates for your most frequent scenarios. 

Set up billing scenario: Supports price lists, discounts and units of measure.

Manage customer access: Self-subscription & management from the customer portal (grant different access rights to your users: restricted, upgrade only, upgrade and downgrade), define service options and setup fees.

5.6. Create deferred revenue

Go to Accounting module -> Accounting -> Management -> Deferred revenue. Review information if needed and click on Compute revenue-> Confirm

Click on the red circle to change it into yellow color and click on pencil icon on the right top to post journal entry

Deferred revenue journal entries for the next period will be automatically generated

This is one loop of Subscription. The loop will continue until the End Date of Subscription.

The Subscription will be sent to Subscription to Renew if To Renew is ticked. What you need to do is Create a renewal quotation -> A new quotation will be generated automatically and start the next loop.

5.5. Create invoice from sale order

On the sale order form, click on Create invoice button

Fill in invoice date and validate

A draft deferred revenue will be automatically generated after validating invoice

5.4. Create Sale order

Sale module-> Orders-> Quotations-> Confirm quotation. A draft subscription will be automatically generated once you confirm quotation

Go to Subscription module -> Subscriptions-> Subscriptions

Review all information (especially start date, end date, date of next invoice)

5.3. Create a subscription product

To create a subscription you need to go to Subscriptions module ->Subscriptions -> Subscription products -> Create

On the Sale tab, Subscription product must be ticked and select a suitable Subscription template for product