How to Create a Basic Renewal Opportunity and Quote

Kelly Irwin Updated by Kelly Irwin

  1. From the Contracts for renewal report, click on the contract number that you want to create a renewal opportunity for.
  2. Click on the account name to view the account record. Click on the contracts & subs tab and scroll down to the contracts section. Check to make sure there aren't multiple contracts to be renewed.
If there are multiple contracts, you may decide to combine them into a single renewal. However, many school districts require separate contracts for each school or subject area. If contracts will remain separate, the renewal amount will need to be calculated manually. Usually, school level contracts can be combined, but district level contracts will need to remain separate. If you are unsure whether to combine contracts or not, reach out to your manager.

  1. In the Contract Record, scroll to the Salesforce CPQ Information section. Click the Renewal Forecast and Renewal Quoted checkboxes. Make sure that you are listed as the renewal owner in the appropriate field. Click Save.
If you receive a red exclamation mark or error message when trying to generate your renewal opportunity, please reach out to the team manager for assistance.

  1. Once your renewal opportunity has been created, it will appear under the renewal opportunity quick link on the right side of the screen. Hover over this, and your renewal opportunity will pop up. Click on the opportunity name to view the opportunity record.

  1. Once you click on the opportunity name, you'll view the opportunity record. All renewal opportunities start in the Up for Renewal stage weight, which is weighted at 25%. Hover over the quotes link in the quick link section and your quote number will pop up. Click on "Edit."

  1. Edit your quote to add the correct renewal pricing. In CPQ, there will be a suggested renewal amount. This amount is based on the ACV of ALL CONTRACTS on the account. That's why it's important to make sure there is only one contract for renewal. Take the suggest renewal increase amount and add it to the target customer amount box. It's ok to round up.

  1. Now you'll want to view the percentage discount for your quote. You can do this in the field below the end date or at the line item. Reset all discounts using the reverse arrow button at the top, and then add the percentage to the additional discount field at the top of the quote, under the expiration date. Note that the total of the quote is around the suggested renewal price. It can vary by several dollars due to rounding, but as long as it it close, it is okay.
    Best practice is to always use a percentage discount instead of leaving the dollar discount in the line item fields. If the customer decides to prorate their quote later, a percentage discount is needed in order to prorate the cost correctly. Dollar and percentage discounts cannot be combined on the same quote.
  2. After determining the percentage discount, you can then add or remove subscriptions based on the customer’s request.  Additional discounts, such as multi-year, can be added in the discount group. 
  3. Select your quote expiration date, which is normally the day before expiration. Add any necessary notes (such as co-op numbers or training notes) to the notes field. Then click save.

  1. In the Quote Record, click “Generate Document”. Select the appropriate template. Multi-Year proposals should be sent for every renewal, except when you are aligning dates. Multi-year quotes will need to be created separately in that situation.  Click "Save" to save the document to Salesforce and attach to a template to email. You can also Click "Preview" and then select the download arrow to save the quote into your “downloads” section of your computer so you can email it to the account.

  1. Your quote is now ready to be emailed to the customer.

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