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 in ServiceNow is designed to help you create and manage both monetary and non-monetary benefit plans associated with a demand. It enables you to define, categorize, and track benefits, aligning them with fiscal periods and financial metrics to support demand and project financial management.

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    Key Features

    • Benefit Plan Identification: Define the benefit plan’s name, link it to a specific work demand number, and specify the sponsor responsible.
    • Benefit Categorization: Classify benefits as Hard (revenue-based) or Soft (value-based), with subcategories driven by the selected category.
    • Benefit Type and Timing: Specify if the benefit is monetary or non-monetary and set the offset type to determine when benefits start realizing, dynamically adjusting the benefit plan start date if demand dates change.
    • Fiscal Periods Management: Automatically populate and allow manual editing of start and end fiscal periods, with associated benefit breakdown values updating accordingly to maintain accurate financial tracking.
    • Financial Details: Enter estimated benefit amounts with currency specification. If the entered currency differs from the functional currency, the budget reference rate is applied to convert values, ensuring consistent financial reporting.
    • Benefit Tracking: Track total planned, actual benefits, and benefits in functional currency, with recurring benefits flagged to indicate ongoing fiscal period impacts.

    Practical Use for ServiceNow Customers

    By using the Monetary benefit plan form, you can precisely plan and monitor the financial and value-based benefits of your demands and projects. This facilitates accurate forecasting, budgeting, and financial alignment with project timelines. The integration of fiscal periods and currency conversion ensures that benefits are reported consistently across different financial contexts, enabling better decision-making and resource allocation.

    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.