Ordway's January 2023 release is now available in your Production environment. 

Table of Contents

• Release Schedule
• New Experience
• Feature Enhancements
  • Finance 
    • Shipping Contact Edit on Subscription
    • Email Status for Reversed Invoice
    • Credit Transaction - GL Definition
    • Adjust Deferred Revenue for Foreign Exchange
    • Revenue Recalculation following Subscription Change
  • Commerce
    • Webhook Logs
    • Customer Portal 
    • Quotes
  • Integrations
    • Salesforce
    • NetSuite
  • Help Center Documentation
    • New
    • Updated
  • Coming Soon!

Release Schedule

New Experience

Ordway's New Experience is available with this release. We have modernized Ordway and updated our design to be comparable with other products. We can't wait for you to check it out! Read More.

Feature Enhancements

Finance

Shipping Contact Edit on Subscription

Shipping Contact can be defined on a Subscription regardless of the Generate Separate Invoice setting. This allows users better control of taxes calculated based on the Shipping Contact.

Email Status for Reversed Invoice

A new field is displayed in a Reversed Invoice to display the delivery status of the Reversal Email.

Credit Transaction - GL Definition

The GL Accounts used for the Credit Journal entries are now defined on the Product’s Accounting Information. Previously this was defined in Menu > Setup > Finance.

Related article: Create a Product. 

Adjust Deferred Revenue for Foreign Exchange

A new setting in Menu > Setup > Finance allows for the automation of deferred revenue adjustments required when different exchange rates are used to convert Billing and Revenue Schedules. 

When Invoices and Revenue Schedules are converted to the entity’s base currency using different exchange rates, Ordway will automatically adjust deferred revenue and recognize a corresponding gain/loss upon financial close. Ordway will automatically address these balances as part of a financial-close process whereby deferred revenue is adjusted with an offsetting debit or credit to revenue. 

Read More: Adjust Deferred Revenue for Foreign Exchange

Revenue Recalculation following Subscription Change

All unposted Revenue Schedule Lines are now recalculated and rescheduled following any changes to the charge amount or revenue dates.

Commerce

Webhook Logs

Ordway now stores and displays Salesforce Webhook logs via Menu > Operations > Logs > Webhook Logs, to help the user identify the webhooks triggered from Ordway to Salesforce.

Customer Portal

A confirmation message has been added to delete a Contact with pending portal access.

Quotes

Create quotes with different currencies for a customer. Customers can have default currency as USD, but also create quotes with different currencies.

Integrations

Salesforce

Package Version: 3.12.4

• Updated formula to calculate opportunity amount for custom contract terms.
• Updated formula for calculated tier price calculation.

NetSuite

Send Journal Entries in Base Currency 

A toggle is available on the Journal Entry module to unlock certain field mappings that enable sending Journal Entries to NetSuite in the base currency.

Help Center Documentation

Check out these new & updated articles since 11/30/22! 

New

• Close or Reopen a Financial Period
• GL Import / Export
• Automate Unrealized Gain / Loss for Foreign Currency Transactions
• Export Data with Multiple Child Objects
• Upload File to an Ordway Object
• Adjust Deferred Revenue for Foreign Exchange

Updated

• Payment Related Email Templates - edited for clarity. 
• Payment Emails - updated for clarity and linked to related templates article. 
• Manage Financial Periods - rewritten for clarity, plus added link to Financial Period Close Wizard. 
• Finance Setup - updated based on December gain/loss release item.
• Export Data Overview - Changed title to Export Data Parameters & clarified that using Reports is the best option for exporting objects with multiple child objects.
• Manage Invoices - updated Export steps.
• Customer Portal Features - updated with December Release Usage updates
• Create New Billing Run/Post Invoices in a Billing Run - Updated with $0 Billing Schedule lines. 
• Schedule A Billing Run - Updated with $0 Billing Schedule lines. 

• Create A Product - Updated Credit Transaction release item. 

• NetSuite Integration - Updated with Send JEs in Base Currency Toggle.

Coming Soon!

As part of the Ordway upgrade, a New Analytics Platform will be available in the coming days. The New Analytics Platform comes with advanced analytics capabilities that enhance data insights within Ordway. Stay tuned for further updates.