How to Configure Recurring Revenue in Odoo 17 CRM
- 1. How to Configure Recurring Revenue in Odoo 17 CRM Enterprise
- 2. Introduction Enterprise This slide will represent how to configure Recurring revenue. Recurring revenue are the income generated at a particular interval. Typically, the interval can be monthly, yearly, or we can customize the intervals for a product or service based on its subscription or contract. So the CRM module helps us generate the automatic invoices in Odoo 17.
- 3. Enterprise Step 1: Enable the feature. ● Go to CRM > Configuration > Settings > Recurring Revenue. ● Recurring Revenue defines the recurring plans and revenues for the opportunities.
- 4. Enterprise
- 5. Enterprise Step 2: Manage Recurring Plans ● Go to CRM > Configuration > Recurring Plans. ● Recurring plans are the plans that set the period over which the recurring must happen. So we need to provide the name of the plan and the months that are to be included in the plan.
- 6. Enterprise
- 7. Enterprise ● Let’s create a new opportunity. So, go to CRM > Sales > My Pipeline. ● For creating an opportunity, we need to choose the customer, and the Expected Revenue that will be generated from the customer will be $1200. We can set the priority high, and every month the customer needs to pay $200 to the company. ● Set the recurring plan and click on the Add button.
- 8. Enterprise
- 9. Enterprise ● Let’s open the created opportunity, and we can find the Expected Revenue, Recurring revenue, Recurring plans, and also the probability. ● We can add the internal notes under the Internal Notes tab. ● As the opportunity is qualified, change the state to Qualified. ● Now we can create a new quotation by clicking on the New Quotation button.
- 10. Enterprise
- 11. Enterprise ● The quotation will be opened. ● Then choose the product on the order line and ensure that recurring is enabled for the product. ● Add the recurring plan, which is on a monthly basis, and we can also set the ending date. ● Add the sale price for the product as $200 which is to be paid by the customer. ● While confirming the quotation, the Recurring Revenue is generated for $200. ● Now create the invoice by clicking on the Create Invoice button.
- 12. Enterprise
- 13. Enterprise ● Let’s open the opportunity that we created, and there is a new feature in Odoo 17 that shows the stage and the time spent on each stage. ● When we create the sales order for the opportunity, then the probability changes to 97.62%. ● Changed the stage to preposition.
- 14. Enterprise
- 15. Enterprise ● The entire amount is paid by the customer, and then we can change the stage to Won. ● This is how we manage the recurring revenue with the CRM module in Odoo 17.
- 16. For More Info. Check our company website for related blogs and Odoo book. Check our YouTube channel for functional and technical videos in Odoo. Enterprise www.cybrosys.com