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This template includes checklists to be followed in a month's close, including sales commissions for a team of inside sales. It is inspired in Redbooth's own month close process and it applicable to products with a recurring payment model.

Sales Ops - Monthly Close Process

This template includes checklists to be followed in a month's close, including sales commissions for a team of inside sales. It is inspired in Redbooth's own month close process and it applicable to products with a recurring payment model.

Sales Ops - Monthly Close Process

Month Close - General Process

  • Update Salesforce Dashboards
  • Find updates and creations
  • Make sure all deals are Closed/Won, Paid or Refunded
  • Clean up opportunities in CRM (duplication, dates, amount, etc.)
  • MRR smoothing
  • Make sure all opportunities have close dates in the future
  • Report exceptions
  • Make sure all payments received are in the CRM
  • Make sure all payments received are in the financial software too
  • Chargebacks and bad debt - Create non payment opportunities
  • Report on chargebacks and bad debt
  • Enter final number on Actuals
  • Bookings and MRR approval
  • Close month accounting

Monthly close Process: Data Reconciliation

  • #FINANCIAL Officially recognized revenue numbers
  • Aggregate numbers
  • Align finance's system with CRM
  • #SO Ensure that the contract values are accurate within the opportunities contained in the CRM
  • Clean up opportunities
  • #SO Scan refunds and credit memos to find out about paid commissions for sales that did not meet the criteria
  • Find possible clawbacks

Month Close - Sales Commissions

  • Extract the data
  • Apply commissions model
  • Sales rep review
  • Deliver commissions report to Head of Sales for approval
  • Deliver commissions report to Head of Finance/ Controller/ Director for approval
  • Deliver commission statements
  • Send commission statements to Accounts Payable
  • Pay commissions