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 enables you to create and manage monetary benefit plans tied to specific demands. This form helps you define, track, and analyze the financial benefits associated with a demand over fiscal periods, supporting both hard (revenue-based) and soft (value-based) benefits.

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    Key Features

    • Benefit Plan Identification: You name the benefit plan and associate it with a specific work demand and sponsor.
    • Benefit Classification: Categorize benefits as either hard (revenue) or soft (value), with further subcategories determined by the chosen category. Benefits can be monetary or non-monetary.
    • Offset Type and Scheduling: Define when benefits start through offset types such as None, Milestone, Start Date, or End Date. Changes in offset types dynamically adjust the benefit plan start fiscal period and related values.
    • Fiscal Periods: Specify starting and ending fiscal periods for the benefit plan. These periods influence how benefits are broken down and tracked over time.
    • Financial Details: Enter estimated benefit amounts and specify the currency. The form handles conversions using the budget reference rate if the entered currency differs from the functional currency defined in Financial Management.
    • Benefit Tracking: View total planned benefits, benefits in functional currency, actual benefits realized, and indicate whether benefits recur across fiscal periods.
    • Description Field: Summarize the benefit plan to provide context and clarity for stakeholders.

    What You Can Expect

    Using the Monetary Benefit Plan form allows you to precisely define financial benefits linked to demands, align benefit realization timing with project milestones or dates, and track both planned and actual benefits. Currency management and fiscal period adjustments ensure accurate financial reporting and planning. This structured benefit planning supports informed decision-making and financial oversight within your ServiceNow environment.

    The benefit plan form enables you to create monetary benefit plans for a demand.

    Table 1. Benefit plan form
    Field Description
    Name Name of the benefit plan.
    Work Demand associated with the cost plan. This field is automatically set to the associated demand.
    Sponsor Sponsor for the demand.
    Category Type of the monetary benefit.

    The available values are:

    • 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.
    The available values are:
    • Monetary benefits
    • Non-monetary benefits
    Offset type Indicates when the benefits start realizing. If the value in the selected offset type changes, the benefit plan start date shifts accordingly.
    The available values are:
    • None
    • Milestone
    • Start Date
    • End Date

    For example, set the offset type to End Date. If 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 demand start date 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 Summary 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.
    Total planned benefit Total benefit value rolled up from the benefit breakdown.
    Benefit in functional currency Benefit incurred from the 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.