Learn how to utilize Salesforce Opportunity Schedules to effectively track and report on subscriptions for Cloud Kicks’ Shoe of the Month club, allowing for various payment frequencies.
Table of Contents
Question
Cloud Kicks wants to utilize Opportunities to report and track subscriptions to Its Shoe of the Month club. Subscribers can make a single payment or pay weekly, monthly, or quarterly.
Which solution should the consultant recommend to meet the requirement?
A. Implement contracts with a lookup to the Opportunity object.
B. Enable schedules on the Product object.
C. Configure assets with a lookup to the Opportunity object.
D. Activate schedules on the Opportunity object.
Answer
D. Activate schedules on the Opportunity object.
Explanation
Activating schedules on the Opportunity object is the most suitable solution for Cloud Kicks to track and report on subscriptions to their Shoe of the Month club, which allows for different payment frequencies such as single payment, weekly, monthly, or quarterly.
Opportunity Schedules enable the creation of revenue schedules for products with recurring revenue. This feature allows Cloud Kicks to define the total amount, revenue distribution, and dates for each subscription opportunity. By activating schedules on the Opportunity object, Cloud Kicks can:
- Set up recurring revenue schedules based on the selected payment frequency (single, weekly, monthly, or quarterly).
- Automatically generate schedule records for each subscription opportunity, tracking the expected revenue and payment dates.
- Report on the subscription revenue using standard or custom reports based on the opportunity schedules.
Implementing contracts with a lookup to the Opportunity object (Option A) is not the best solution, as contracts are primarily used for tracking agreement terms and renewal processes, rather than subscription payment frequencies.
Enabling schedules on the Product object (Option B) is incorrect, as product schedules are used for defining revenue distribution templates for products, not for tracking individual subscription opportunities.
Configuring assets with a lookup to the Opportunity object (Option C) is not the most suitable approach, as assets are used for tracking purchased products or services, rather than managing subscription payment schedules.
In summary, activating schedules on the Opportunity object is the recommended solution for Cloud Kicks to effectively track and report on subscriptions to their Shoe of the Month club, accommodating various payment frequencies and providing detailed revenue insights.
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