Welcome back to our ongoing FAQ series on Salesforce Revenue Cloud Advanced (RCA)! Over the past weeks, we’ve explored RCA essentials, from setting up custom fields to configuring pricing procedures. In this final installment, we’ll wrap up with advanced topics like adding taxes on quotes and orders, calculating derived pricing, and setting up Contract Lifecycle Management (CLM). These last details will help you get the most from your RCA configuration and streamline your pricing processes. Let’s dive in to learn more!
How Do We Add Taxes on Quotes and Orders in RCA?
Enabling tax calculations on quotes and orders allows for greater accuracy in pricing and simplifies compliance. Here’s how to get this done:
Enable Estimated Taxes: Start by going into Revenue Settings and selecting Add Estimated Taxes to Quotes and Orders.
Create Tax Policies and Treatments: Next, define a Tax Policy and the necessary Tax Treatments, and configure the Tax Engine.
Product-Specific Tax Rates: If you need specific tax rates for different products, modify the MockAdapter apex class before setting up your Tax Policy and Treatments to meet each product's requirements.
RCA Tax Engine VS Third party Tax Engines.
RCA Tax Engine.
Integration: Native integration with RCA makes it straightforward to implement and maintain.
Configuration: Uses Salesforce objects and fields for tax calculations, which can be customized to meet specific needs.
Jurisdiction & Rules: Limited to standard regions and basic rules; customization may be required for complex jurisdictional tax handling.
Performance: Faster response times within the RCA system as there’s no external API call.
Cost: No extra fees beyond the RCA licensing cost.
Compliance Updates: Requires manual updates to stay current with new tax laws or complex changes.
Third Party Tax Engine:
Integration: Require API integration, which could involve additional setup and monitoring.
Configuration: Usually comes with comprehensive tax jurisdiction coverage and automatic updates.
Jurisdiction & Rules: Extensive; often includes complex rules (e.g., tax holidays, cross-jurisdiction tax variations).
Performance: Slightly slower due to API dependency but generally reliable if SLA-supported.
Cost: Typically incurs additional subscription costs.
Compliance Updates: Automatically updated for tax law changes, which can reduce ongoing maintenance.
How Do We Calculate Derived Pricing in RCA?
Derived pricing is a helpful feature that lets you base product prices on a source product's base price. Here’s a quick guide on implementing this:
Define a Source Product: Start by adding products to the Price Book with a base price. These are considered source products.
Set Up a Derived Product:
Add the derived product as a price book entry.
Select the Is Derived checkbox and set its List Price to zero.
Create Derived Price Records: Finally, create derived price records to track and apply derived pricing, and ensure the pricing procedure includes specific rules for derived products.
Create a Pricing Procedure for Derived Price
What Permissions Are Required for Setting Up CLM (Contract Lifecycle Management)?
Setting up CLM within RCA requires permissions to facilitate contract creation, approvals, and lifecycle management. Here’s how to get started:
Assign CLM License: Ensure users have the Contract Lifecycle Management User license.
Add CLM Admin user: Assign the CLM Admin User permission set to users who will manage CLM.
Create an Approval Process: Set up an approval workflow to handle contract reviews and approvals for smooth contract lifecycle operations.
Final Thoughts
This concludes our FAQ series on Salesforce RCA. We hope these insights into RCA configurations have equipped you with everything needed to navigate Salesforce Revenue Cloud confidently.
As always, if you have more questions or need specific assistance, feel free to reach out to info@bluvium.com. Stay tuned for new content, tips, and insights on maximizing your Salesforce Revenue Cloud journey!