You are here:
Store Transaction Records in Finance Books
Store financial transaction records in a finance book. These records include invoice lines, payment allocations, credit note lines, and revenue schedules. Salesforce Billing organizes these records by date and legal entity into finance periods. (Salesforce Billing Managed Package)
Required Editions
| Available in: All Salesforce Billing Editions |
Finance books are useful for organizing your transaction records into several groups for reporting and recordkeeping purposes. For example, you could make a revenue finance book to track all your ASC606 revenue for each month of the year. You could also make an accounting finance book to track invoice lines created from your organization’s quarterly UK sales.
The finance book Period Type field lets you define the types of transactions that Salesforce Billing records in the book.
- Choose Accounting to create lookups in this finance book to all invoice lines, credit note allocations, and debit note allocations from a transaction.
- Choose Revenue to create lookups in this finance book to all revenue transaction records from a transaction.
Your treatment’s finance book lookup defines the finance book that receives records of the transactions that your treatment evaluates. Let’s review each type of treatment and the transactional information it can pass to a finance book.
- Billing Treatment: When your billing rule creates an invoice line from your transaction, Salesforce Billing creates a lookup to that invoice line in an accounting finance book.
- Revenue Recognition Treatment: When your revenue recognition rule creates a revenue schedule from your transaction, Salesforce Billing creates lookups to the schedule’s revenue transaction records in a revenue finance book.
Salesforce Billing groups a finance book’s transaction records by date and legal entity into finance periods. The finance period record contains related lists with lookups to the invoice lines, credit note allocations, debit note allocations, or revenue transactions that your finance book is tracking. This process lets you organize your transaction records by a certain time frame. For example, you could create 12 month-long finance periods in an accounting finance book so you can organize all your accounting transactional record by month. Once your treatment assigns a transaction to a finance book, Salesforce Billing associates your transaction with one of the book’s finance periods based on the following values:
- First, Salesforce Billing checks for a matching legal entity between the treatment and the finance period.
- Next, Salesforce Billing checks for a finance period where the transaction date falls within the period’s Period Start Date and Period End Date.
Finance books and finance periods are useful for organizing your transaction records into several groups for reporting and recordkeeping purposes. Here are some examples of ways to organize your finance books.
- Finance Periods
A finance period is a reference object that stores lookups to all the accounting or revenue transactions that occurred within a period of time. (Salesforce Billing Managed Package)
