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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.
Create Workspace
Start a Redbooth workspace from this template
Sales Ops - Monthly Close 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
Officially recognized revenue numbers
Aggregate numbers
Align finance's system with CRM
Ensure that the contract values are accurate within the opportunities contained in the CRM
Clean up opportunities
Scan refunds and credit memos to find out about paid commissions for sales that did not meet the criteria
Find possible clawbacks
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