Question 1

REVLOCK + Chargebee

Accepted Answer

REVLOCK + Chargebee

The REVLOCK Revenue Recognition module works natively with Chargebee. Chargebee + REVLOCK offers a best in class solution that simplifies the complexity of ASC 606 and IFRS 15 compliance. This document explains how to configure Chargebee to ensure compliance with the revenue recognition standards. We have also included a detailed data mapping for the curious.

Chargebee connection to REVLOCK

REVLOCK connection to Chargebee site can be established using REVLOCK interface. Below is a short video that demonstrates how this works.

${youtube}Connect Chargebee to REVLOCK

Configuration of REVLOCK

In order to properly use REVLOCK you need to first configure a few items. We recommend you first get familiar with environments and go through our Quick Start guide first. The Quick Start article will walk you through a manual entry process of items needed for proper revenue recognition. By manually entering a few transactions, you will gain familiarity with the information needed, how it is used and the functionality of the solution.

Setup involves the following steps:

Link REVLOCK to Chargebee
Setup your Standalone Selling Price (SSP) Library
Configure your Posting Process
Conversion of Prior Balances

That's it!

1. Link REVLOCK to Chargebee

You can do this by going into your Chargebee instance and..

2. Setup your SSP Library

The first step

Question 2

Import Data in Bulk

Accepted Answer

Import Transactions in Bulk

Sometimes you just need to import your transaction data from a report or a spreadsheet. REVLOCK allows you to do this leveraging our "Import" feature.

Import Transactions

Importing Transactions

In order to access this you click on Sync -> Import as shown here.

We support importing your transactions in as Microsoft Excel workbooks. Each sheet is a particular type of data (the sheet and column names have to match exactly).

OrderDetails - This represents the sales order details. All the data is presented at a line item level
BillingSchedule - The amounts that are invoiced against the orders, also tracked at a line item level.
ProfessionalServicesDelivery - Delivery of "work" against professional services type activity, expressed in units of work (typically hours).
Reference information about the customer and products.

*Note that if the reference information (products/customers) are already known by REVLOCK (since you entered them earlier, sync'ed them into the system or entered them when you setup the SSP or elsewhere from the user interface) you do NOT need to provide them again.

An example transaction file with contract details is available here. An example file with commissions for each contract is [available here](https://s3.amazonaws.com/content.rev-lock.com/

Question 3

Understanding SSP rules

Accepted Answer

Standalone selling price rules

The standalone selling price is defined as the price at which a vendor would sell a promised product (goods or services) separately to a customer.

ASC 606 allows for several different approaches to establishing standalone price for products sold. REVLOCK enables users to easily define rules that can be used to establish standalone price automatically in full compliance with ASC 606.

Standalone Price Policy

REVLOCK help easy configuration of Standalone Price rule using Standalone Price Policy. What follows explain different Standalone Price policies that REVLOCK supports.

Dollar Amount

When using this policy user will define a numeric standalone price for the product being sold. For example, when sold individually, 1-year SAAS subscription for Product A is $4000.

Dollar Amount

Dollar Amount Range

This policy is used when sales personals have some flexibity in price when selling products to customer. For example, when sold individually, price for 1-year SAAS subscription for a Product A is between $3200 and $3800.

Dollar Amount Range

Discount Percentage

When using this policy user will define a percentage discount that is given to the customer with respect to the list price. For example, when sold individually, 1-year SAAS subscription for

Question 4

REVLOCK + Salesforce

Accepted Answer

Salesforce Setup

REVLOCK is built to make it really easy to leverage Salesforce.

|| Our standard sync integration leverages the Opportunity object in Salesforce to automatically create a sales order in the system for every opportunity that is in the "Closed Won" stage.

It is important to understand what key terms REVLOCK uses and how it leverages them from Salesforce.

We expect that products being sold are on the opportunity product list in Salesforce for each opportunity. You can see this on the opportunity page in Salesforce as show below

Opportunity Line Item in Salesforce page

The Date, Quantity and Sales Price for the opportunity line item is populated

Populated Opportunity Line Item in Salesforce

The product being sold is on the price book and the Term and List Price are populated.

Salesforce product in price book

Term and **Prod

Question 5

Quick Start Guide

Accepted Answer

Once you create an account with REVLOCK and you verify your account you can login and are ready to get started.

||| Note that when you login to REVLOCK you get a test and a production environment. We recommend you setup a sample data set in the test environment first and once you get comfortable move to production.

What you need before you start

There are a few items that you will need during the set-up process:

The Price Book – The price book includes all of the products and services that you offer and the “list price” for each item.
Stand-Alone Selling Price Rules – To comply with ASC 606 revenue recognition standards, companies need to define their Stand-Alone Selling Price Rules.

These rules include two items

|| Stand-Alone Selling Price –The price that a product would be sold for on a stand-alone basis. This Stand-Alone Selling Price is determined by the company’s management and should be reviewed by your outside auditors (if applicable).

|| Revenue Recognition Policy – Under ASC 606, revenue is earned as performance obligations are satisfied. The identification of performance obligations and the revenue recognition policy are determined by management and should be reviewed by your outside auditors (if applicable).

The Stand-Alone Selling Price Rules are configured in REVLOCK’s Stand-Alone Selling Price Library™. This information is applied to each line item of each contract to properly recognize revenue

Question 6

Conversion

Accepted Answer

Conversion refers to how you convert from your current ASC 606 accounting process into a new accounting close process that runs on REVLOCK. Conversion is a process that you run right after you have configured REVLOCK and must do before you close your first Accounting Period.

There are a number of decisions / steps to answering how you will perform conversion, illustrated in the diagram below:

Determine Conversion Population

Conversion Population Decision

First step is figuring out what population you want to convert into REVLOCK. You must decide whether you want to

Only bring in New Contracts/ Renewals into REVLOCK and run prior balances off in their current system of record
Bring historical contracts into REVLOCK

New Contracts Only

If the customer chooses to bring in new contracts only there are only two steps that need to be performed

Set the Conversion Date. The conversion date tells REVLOCK to ignore all data that is before the conversion date (this is primarily needed for customers that have an automated data sync process set up that would bring in older contracts if this date was not set). This is available on your environment settings page.
Set the Accounting Period. The accounting period is set to the first open period that you want to book from out of the REVLOCK system. All transactions that are imported are marked as

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