RevOps offers a set of built-in terms out-of-the-box to get you started with creating agreements immediately. Many of these built-in terms also have additional functionalities included to help automate your quote-to-cash process. This guide describes the built-in functionalities of these terms:
<div class="hash-anchor" id="account-id"></div>
This term allows businesses to map their internal customer ID to the RevOps Account object.
The value of this term may be entered on the deal or if you are integrated with Salesforce, by creating an Account Sync mapping.
Every deal created with RevOps is associated to an Account. Deals created with the same Account ID, will belong to the same Account in RevOps.
If this field is not used, RevOps will create an Account ID to identify the account the deal was made out for.
<div class="hash-anchor" id="auto-renewal"></div>
The agreement language specifying the renewal policy.
This term currently does not have any built-in functionality.
<div class="hash-anchor" id="billing-frequency"></div>
The Billing Frequency of the Sales Order. By using this term, you can price your products independently from their payment schedule.
The available values on this term include One Time, Monthly, Quarterly, Semi-Annually, Annually. The value of the term can be marked as unavailable, if your business does not offer these types of payment schedules.
If syncing this term to a CRM picklist field, the API Name must match the following:
<div class="hash-anchor" id="billing-start-date"></div>
Defines the start date of the first invoice or subscription.
<div class="hash-anchor" id="contract-period"></div>
This term is used to display either the contract start date or the contract period (start date and end date), depending on whether the input type for this term is selected as "Date" or "Contract Period", respectively.
The dates represented on this term are used as the service dates of the deal's line item(s).
The contract end date of this term is not editable and is calculated based on the length of the contract term.
This built-in term is required on all RevOps Order Forms. If this term is not used on an agreement, it must be added before the deal can be submitted for approval. The start date of this term must also occur before the start date of all line items and the end date of this term must occur after the end date of all line items on the deal. This is to ensure that the service dates of the line item fall within the contract dates.
<div class="hash-anchor" id="contract-term-months"></div>
The entire length of the contract pricing period in months. The input type of this term must be "Number".
RevOps uses the number entered here as the service length of the line item (unless the service length is specifically set for the line item) when calculating the subtotal of the line item. The number also drives the end date of the contract period.
On the agreement, this term will show either a full number or a float rounded to the 2nd decimal digit to represent partial months. RevOps calculate the float:
<pre><code>( Contract_End_Date - Contract_Start_Date ) / 365 * 12</code></pre>
This built-in term is required on all RevOps Order Forms. If this term is not used on an agreement, it must be added before the deal can be submitted for approval. The value for this term must also be a positive number.
<div class="hash-anchor" id="late-payment-percentage-fee"></div>
This term can be used to specify any fees that may incur due to late payment on the invoice.
This term currently does not have any built-in functionality.
<div class="hash-anchor" id="offer-expiration"></div>
The date at which the agreement will expire.
After this date, the signer can only view the agreement shared but can no longer sign the agreement via RevOps. If there are multiple signers on your deal, all signers must sign before the expiration date to complete the agreement.
Counter-signers are able to sign all deals regardless of the deal's expiration date.
The offer expiration date may be set to a date in the past.
<div class="hash-anchor" id="payment-terms"></div>
This term specifies the period of time your customer has to pay the amount due.
Available values include: Net 30, Net 45, Net 60, Net 90, and Due Upon Receipt.
If syncing this term to a CRM picklist field, the API Name must match the following:
<div class="hash-anchor" id="purchase-order-number"></div>
The purchase order number term can be used to help both the business and buyer track and reference the orders they've sent or received.
This term currently does not have any built-in functionality.
<div class="hash-anchor" id="signature-page-terms"></div>
The term contains the legal agreement language to include on the signature page of the agreement.
Since the same term language is used on every signature page, we recommend making this term language as generic as possible. To customize the agreement language included on the signature page, Operators may be used.
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