Understand Exchanging Transaction Items

Exchange an item (for Advanced Contract Changes) lets you swap Transaction items without altering amounts or dates. This is useful when a Customer switches products or an incorrect item was billed. The system offsets the original with a negative adjustment and creates a new Transaction using the revised item, ensuring consistent invoicing and financial alignment across periods.

Common use cases:

• Instead of offering a concession in amount, or dates, you agree to swap one item for another
• You billed the wrong item to your Customer and the periods are locked

How it works

Once you select the Transactions you would like to change, you'll be able to select the new items to use going forward. The original Transaction will be offset 1:1 with a negative ("adjustment") Transaction containing the same item as the original. A new Transaction will be created with the new item. If your prior periods are closed, a cumulative catch-up adjustment is recorded in the first open period. The net difference between the original, adjustment, and new Transactions will be billed to your Customer using the revised invoicing schedule.

Example:

Customer switched from the Bronze Subscription to Gold Subscription items: