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Netsuite invoice template for organizations

hey my name is Ryan Brown with 360 subscription billing and I'm here today to take you on a little product tour of net Suite with 360 subscription billing site projects and advanced Revenue management this is a common uh mix of things for SAS uh software companies that have uh Professional Services here's a little um view a process flow if you will before we get into net suite and look at a bunch of screens and Records um of how this would work now whether you use Nets Suite CRM for your opportunity quotes you use an external sales CRM you use e-commerce the sales order is the Hub of the wheel as I like to say in netw Suite from a a sales to cach perspective from that sales order when you approve it you start to see some green in other words 360 subscription billing contract contract lines um if you're the kind of organization where you know you've got a Professional Services project and kicking off the project or going live on particular Milestones of the project is driving uh what we like to say item fulfillment um that will you know essentially reset your contract start date your billing rev start date based upon those things um so that you can then um you know get your initial invoicing out from that sales order any um let's say onetime upfront services that are you may be billing for any initial billing periods um and then you're done with the sales order you're done with the native net Suite steps um we can work with electronic Bank payments we can work with uh site payments processors to automatically pull and apply payments to this invoice and then from there you've got what we call a contract and contract lines for any recurring uh let's say SAS license uh products or items that will automatically bill for recurring billing periods automatically pay automatically deliver emails to your customer and as many contacts as you want and then of course we have automated renewal in Nets Suite if you want that to happen and CRM transactions are back to a sales order in addition to credits adjustments usage functionality that we'll be touching on um won't be touching on fully but we'll touch on a bit lightly in this product tour today so here's an example of a homepage dashboard it's got some reminders from me unpaid invoices orders pending fulfillment that may not have uh you know kicked off or gone live with their projects you know some dashboards for you know what's my monthly recurring Revenue looking like you know how is my recurring Revenue changing as I have add-ons net new sales down selles or downgrades of my software upsells or upgrades of my software we're going to see an example of an upsell or an upgrade and an add-on here in the product tour today with a customer in net Suite you can configure you know multiple contacts you know this contact may need to get renewals this other contact may need to also get uh invoices and statements um going through 360 subscription billing and I'm assuming that you have uh a sweet payments processor in this PL in this case I have a credit card on file uh for the customer store that we'll be using for automated payments and I'll start with the sales order now the sales order is a fully completed status of build but you'll notice that it has a box checked for start new contract means when it's approved it's going to create a contract that um I can then begin to add contract lines to in other words things that 360 subscription billing is going to manage and automate in net suite for you such as licenses to recur Bill recur pay or renew I have here a software license and you can see the term was set on the line we'll see how these dates got set on the term because this date is different than the date that the order was placed or booked which was in December of 2022 and then I have this implementation project with $482 hours at $50 an hour for you know 24,000 we're going to build it in advance and I've got a project in sweet projects linked to this um now I'm not going to go deep into the sweet projects today but suffice to say I created this from a project template um You probably would too that will set up a schedule of commonly um uh used uh tasks and milestones in this case uh I have the systems launch Milestone which in this project after we've tracked hours against it you can see um that ended up actually happening on uh the 3 of 2023 so you can flow that because it's related to your sales order to the first uh uh related record as we call it in the flow here the Fulfillment so in this case we're going to set the Fulfillment is going to drive the kickoff date of that project um or was driven from the kickoff date rather and then when I go to invoice for everything I can see that I've got my first billing period amount for my quarterly build software with my full amount of the implementation to be build in advance because now we've kicked things off even though there's remaining services to be delivered and remaining recurring billing periods for my software to be build as well my invoice could look like this the first billing period now starting on that January 3rd date for full quarter 2000 and here's my uh hours build in advance uh for my implementation project that was paid could see that as another related record to this invoice here that got paid through that card that we saw on file earlier when that fulfillment occurred it created a contract line as we saw in the flowchart earlier it sets that start date and it knows what it recalculates its end date it recalculates its first recurring Bill date as we call it and that contract a line lives on a contract that now has its own billing dates and is its own gross amount build to date and it will roll up some recurring Revenue values the transactions tab of these contracts shows me my sales order my fulfillment my invoice you can see here my first recurring invoice was automatically generated and I don't have any onetime charges on it it's just the next quarter of my software going through July of 2023 from April on my contract I can come here now and use the contract change button to easily come in and say Hey I want to change a price of um you know this contract line uh starting on this date you know and I want to increase it by a thousand or and I want to add on this additional license in this case we're going to upgrade to an Enterprise uh class um uh software license from what we sold to originally so the price is going to go up and it's going to happen to go up one month into a quarter of my existing billing and I'm going to add on uh another license maybe for another site uh within my corporate customer and of course I want to throw in another 482 hours of services so this will create for you the sales order without you having to do it all and then that sales order can be linked to a new project for the add-on and the upgrade of these sites and off we go it's kind of the same process that we saw earlier right and on the sales order line you can see I've got this in contract action populated and I've got net um recurring Revenue values being calculated because in this case I had I had something uh a a quarterly build subscription that I'm replacing one month into the second recurring quarter here so we're prating uh in this case $2,000 to bill for those two months because what was $2,000 a quarter is now being replaced by $3,000 a quarter it's an Enterprise uh product tier if you will and you can even see that you know we're co- terming uh they're all going to Auto renew and I'll scroll way to the right um You can see um there are recurring Revenue values being calculated in the line as well even though it's worth 12,000 net annually uh for a brand new license added on in net at that Enterprise grade my net annual increase is 4,000 and that's what's driving a lot of the analytics and the reporting that we get uh on the homepage that we saw earlier so this project does its thing you know it drives a kickoff an early project kickoff on May 3rd pretend it's all the same date keep a nice clean two out of three months for the sake of pration you could see on my contract once I activate it or fulfill it and I don't have to fulfill it I can just set the dates to what they are up front of the the sales order I don't have to have the project driving anything that's Now setting a new set of contract lines here it cancels my original contract line that's being replaced that a price change or upsell if you want to call it that be similar is occurring and now you could see this term begins when the other one ends and I've got this add-on with its own term that again I co- termed so they'll all renew together in January of 2024 at the contract line level you can see this um you can see that this uh line here was was added as an add-on you can see that this line here was added as a price change or you could call it an upsell if you wanted and it replaces this prior line with this term and then this original contract line had a cancellation date so it's now in a canceled status and it was replaced by uh that Enterprise grade tier upgrade we also calculated a contract credit for this a pro-rated amount due back from the previous billing so let's talk a bit about that what 360 subscription billing has done automatically just by entering these dates is it's calculated a PR rate amount due back for the original contract line because I'd already build in advance a whole quarter well I've got two months out of that quarter due back in the form of a credit because I'm going to be prating now higher contract rate per month across that quarter amount to bill you for the Enterprise grade um as of the date of the upgrade so let's see what that happens when this contract credit gets automatically created and applied through a netsuite credit memo to the invoice for all of this you can see the invoice is 23,000 and some change but the amount due is only 22,616 why it's because I've got both of these uh upgraded licenses I've got my services that I'm billing in advance through that project but it knows that that credited amount those two quarters that I'd already build previously that's due back to the customer so we're going to automatically apply it to this invoice that's a lot of manual work saved with that pration with the creation the application of the credit memo to net to this amount due on the add-on and the upsell and the additional Professional Services project uh that all occurred here and here's this credit memo that you could see is is fully applied and has a link back to that contract credit and it's going to spread the reversal of the revenue as well over that period so I'm going to go back here haven't talked about Advanced Revenue management yet we'll look at it here in a second but what needs to happen on the revenue elements as they're called in net Suite is that for that original subscription or contract line now as of that date I need to PR rate and reverse out that Revenue um from any future periods to make sure that I don't recognize them as well as making sure that no Revenue gets recognized there and we're going to add into our Revenue Arrangement as we call it in net Suite A new Revenue element that represents the upsell or the price change that has that pro-rated rev portion for the partial period and then the full recurring periods that follow so keep that in mind as we keep going forward because uh when July hits and that next recurring quarter occurs now I'm just billing for two Enterprise uh uh uh grade subscriptions at 3,000 a quarter right all my pration is done all my crediting is done all my onetime stuff is done now I've just got nice Easy Clean quarterly billing but now I've got two uh uh software licenses that I'm billing instead of one the same thing happens for the final quarter of that year getting me into uh January of 2024 and I go back to my contract and I can see you know when it was last build when it was next build uh and this next build a is being driven from the renewals so I set them set to Auto renew you can uh create renewals as transactions you can also just have subscriptions Auto renew into the next year subscriptions which is what you see here they're going to start 2024 end in 2025 they are now what's driving the next bill date on this contract um that I have build now $20,000 of recurring Revenue against and speaking of advanced Revenue management kind of touch touching on it at the end um uh the 360 uh subscription billing Revenue management plug-in links Revenue right through the contract think of your lines as your billing schedules or your subscriptions from a billing perspective we saw the transactions tab shows me all of my uh transactions over time as well here invoice sales order credit memo what have you and then Revenue management it'll show me my related Revenue arrangements and this is the first one it's the biggest one because this is where I had um all of my Professional Services and advanced Revenue management is super powerful it can do carve outs in this case you could see my uh Revenue amounts may be slightly different from my sales amounts because it's doing allocation across the services and the software um if you may need to do so for various six06 purposes it may even be carving out um based upon uh fair value price rules um and whatnot that we have set up but you could see we've merged together all of the services that you know kind of only went out on the sales orders we've merged together all the software licenses that are sourced from contract lines as well as the credit memo for the partial Mount dubac to net to the really total revenue value um for that whole year um that first year and then if I go back um into the menu here you could see that the way it's designed from these Revenue Arrangements are the revenue elements that represent the individual uh uh subscriptions or services or items if you will for whatever terms they are and from these plans they'll have forecasts and actual plans uh in case you know dates materially change or something uh uh between when you kick off and when you actually begin your rev recck but these actual um uh these actual Revenue plans that you can see here are what ultimately have journal entries posted against them um to spread the revenue based upon whatever rule you choose in Nets suite and um these journal entries will do line level posting per the revenue schedules that are now decoupled from my billing schedules I was billing quarterly but I'm recognizing Revenue uh monthly straight line and I'm prating the first and last periods so um when you go to the menu this is what it looks like I've just put in the month of January so I could Mark all of these and begin to book uh from deferred revenue and end income uh using uh Revenue management and the journal entry bulk creation process also related to that contract is another Revenue arrangement we created another one on the renewal it's a nice clean $112,000 throughout the year not as much fun stuff happened through it but this is the process that would be uh very well managed as you could see very powerful with these three modules working together in net Suite um and highly automated highly accurate highly auditable within net Suite again my name is Ryan Brown this has been net Suite with 360 subscription billing site projects and advanced Revenue management thanks for watching we hope to hear from you