Monetary benefit plan form

  • Release version: Australia
  • Updated March 12, 2026
  • 2 minutes to read
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    Summary of Monetary benefit plan form

    The Monetary Benefit Plan form enables ServiceNow customers to create and manage both monetary and non-monetary benefit plans associated with demands or projects. This form helps capture, categorize, and track expected benefits over fiscal periods, allowing for accurate financial management and reporting within the Financial Management application.

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    Key Features

    • Benefit Plan Identification: Define a descriptive name, associate the plan with a specific demand, and specify the sponsoring entity.
    • Benefit Categorization: Classify benefits as Hard (revenue-based) or Soft (value-based), with subcategories and benefit types selectable accordingly.
    • Offset and Scheduling: Use offset type to control when benefits start realizing, dynamically adjusting start fiscal periods based on project or demand dates.
    • Fiscal Period Management: Set starting and ending fiscal periods for the benefit plan; these selections automatically update the benefit breakdown values across time.
    • Associated Benefits and Description: Link related benefits to the plan and provide detailed descriptions for clarity.
    • Financials Section: Enter estimated benefit amounts, select currencies (entered and functional), and specify if benefits recur each fiscal period.
    • Currency Handling: Supports currency conversion using budget reference rates when the entered currency differs from the functional currency, ensuring accurate financial calculations.
    • Benefit Tracking: Displays total planned and actual benefits rolled up from detailed benefit breakdowns, facilitating performance monitoring.

    Key Outcomes

    • Enables precise planning and tracking of financial and non-financial benefits linked to demands or projects.
    • Supports dynamic adjustment of benefit realization periods aligned with project timelines.
    • Improves financial accuracy by handling multiple currencies and recurring benefit scenarios.
    • Facilitates comprehensive visibility into planned versus actual benefits for better decision-making and value realization.

    The benefit plan form information is used to create monetary and non-monetary benefit plans for a demand.

    Table 1. Benefit plan form
    Field Description
    Name Descriptive name of the benefit plan.
    Work Demand number to which the benefit plan belongs.
    Sponsor Sponsor for the demand.
    Category Type of benefit:
    • Hard: Benefits measured in terms of revenue.
    • Soft: Benefits measured in terms of value.
    Sub category Subcategories of hard and soft benefits.

    The selection in the Category field determines the available options in this field.
    Benefit type Type of the benefit: monetary or non-monetary.
    Offset type Indicates when the benefits start realizing. If the value in the selected offset type changes, the benefit plan start date shifts accordingly.

    For example, if the offset type is set to End Date and the demand due date changes, the benefit plan start date shifts to align with the new due date.
    Start fiscal period Starting fiscal period. Populated based on values in the Offset field relative to the selected Project or Demand start date or Project or Demand end date, and the Duration in period values.

    The field is editable if you select None in the Offset type field.

    When you change the start fiscal period, the associated benefit breakdown values also change.
    End fiscal period Ending fiscal period.

    When you change the end fiscal period, the associated benefit breakdown values also change.
    Associated benefit Benefits associated with this benefit plan.
    Description Description of the benefit plan.
    Table 2. Financials section
    Field Description
    Entered benefit Estimated amount of the potential benefit.

    Any change in the planned benefit on the benefit plan updates the associated benefit breakdown values for future fiscal periods.
    Entered currency Currency for the benefit plan. If the selected currency differs from the default currency configured in the Financial Management application, the budget reference rate is used to calculate the financial benefit of the demand. For more information, refer to budget reference rate.
    Functional currency Default currency configured in the Financial Management application and used for managing the demand or project.
    Total planned benefit Total benefit value rolled up from the benefit breakdown.
    Benefit in functional currency Benefit incurred from demand in functional currency. The value in this field changes if the Entered currency differs from the functional currency.
    Actual benefit Actual benefit value rolled up from the actual benefit in the benefit breakdown.
    Recurring Indicates if the benefit is recurring for each fiscal period in the benefit breakdown.