Have you ever had a few dollars remaining on your deal or project after the booked dollars came in from your traffic or billing system that you then had to go and manually close the deal so that your forecast was more accurate? We've taken steps to help you here with an auto-zero reconciliation process! Now if a small amount of pending remains it can be automatically zeroed out for you without additional manual manipulation. The remaining amount can be configured as a percentage of the original amount so if you only want to automate this if 10% or less remains in pending then that is achievable.
Configuring the Feature and Understanding the Settings
As an admin, you can setup this feature from the settings page and then scrolling down until you see a setting that looks like the image below.
Note: If you do not have admin access, please contact Customer Support to have this feature turned on.
By default, the feature will be turned off. When you turn it on, you’ll also need to set the percent threshold between 1-100. The below functionality is the same for Deal and Project, though a deal will be referenced throughout.
• A threshold of 100 means that no matter how much pending remains after a deal has been reconciled, the remaining pending on the reconciled value will also be zeroed out.
• A threshold between 1-99 means if the remaining pending after reconciliation is equal or less than the amount before reconciliation then it will be zeroed out. Ex: Let’s set the threshold to 10% and imagine that I have $1,000 in June 2021 on the WAAA/Direct deal detail row. $900 is imported that reconciles against that $1,000, which leaves $100 in pending. Because the remaining $100 is equal to or less than 10% of the original $1,000 then it will be zeroed out so that remaining pending = $0 without any additional human intervention. However if the amount imported would have been $899, then the amount remaining in pending would have been $101 which is now greater than the threshold and the remaining pending would continue to be $101.
In either case this does not mean that the deal itself will always be zeroed out, rather this controls how just that the individual reconciled amount gets zeroed out.
This also works over multiple days. If you had $1000 originally with a 10% threshold, as in the example above and $700 were imported, then $300 would remain in pending because it is greater than 10% of the amount before reconciliation ($1,000). Now on the next day $200 is imported leaving $100 in pending from the $300. That $100 will remain in pending as it’s greater than 10% of the amount before reconciliation ($300). It is important to note that this is not comparing to the original amount at $1000, but the amount before the latest reconciliation when considering if a value should be zeroed out or not.
If you change the threshold, we will not attempt to reconcile deals on the fly. The change is only considered during the reconciliation process which is tied to a revenue import and requires new dollars to be found to attempt a deal reconciliation. Because this process happens at the end of reconciliation, we have made no changes to the way the core reconciliation works today.
Understanding When Monarch Automated the Workflow
Customers, as well as Support and Success teams need to know when Monarch has performed an action on behalf of the user. We’ve made it easier to understand some of the touch points to Deals and Projects and not confuse them with others.
Whenever we automatically zero out a value on a deal, you’ll see it on the Account Profile’s summary tab. We’ve enhanced the logging so that you can more clearly understand when we zeroed out values on behalf of the customer
Similarly with a Project, you’ll see the updates in the changelog noting when we zeroed out the remaining pending on behalf of the customer.