In Sales Cloud, when companies are dealing with Accounts, Contacts, Opportunities and Products, one thing is very obvious who the company will get the money back from the Contacts for the Products sold to them. Are the contact/account going to pay all together in one shot or are they going to pay over the period of times?

Salesforce has the answer to these questions. In Salesforce you can configure how your customer will pay you the money. Based on that configuration, you can run your business reports to track your sales matrices. The way you can configure this in Salesforce is known as Product Schedule. Product Schedule are the payment or delivery cycles for the products which will be either paid over time or delivered over time.

In Salesforce we have three different types of schedules.

• Quantity Schedule: Choose this schedule when you want your products to be delivered over the period of time. Example – Consider your customer bought subscription of one magazine from you for the next 2 years. Now you need to courier the monthly subscription to your customer every month. So in this scenario, you will go for Quantity Schedule.
• Revenue Schedule: Choose this schedule when you want your customer to be billed over the period of time. Example – Consider you are selling House Insurance to your customer. The total cost is USD 1200 for one year. But you will bill customer on monthly basis i.e. USD 100 per month. In this scenario, you will go for Revenue Schedule.
• Revenue and Quantity Schedule: Choose this schedule when a product will be delivered over the period of time and you bill your customer also over the time. Example – Consider your customer bought the subscription of one magazine for next 2 years. But this time instead of charging your customer at the beginning, you will charge the customer on monthly basis and also courier the magazine on monthly basis. In this scenario, you will go for Revenue and Quantity Schedule.