Revenue recognition, commonly referred to as ‘Rev Rec’ is an accounting principle used for reporting revenue that it is ‘earned’ over a period.
Depending on your business, this can be a challenging process which is complicated to calculate manually, particularly if your business operates multiple entities or revenue streams.
With Revenue Recognition software, your business can simplify the entire process, automating consolidation procedures and performing the complete process in one system. Ensure compliance with ASC 606 and IFRS 15, and reduce the overall time taken to recognise revenue.
By aligning to your cloud accounting solution, your software can automatically calculate revenue recognition postings and direct to your general ledger seamlessly.
To learn more about revenue recognition, to arrange a demo or to know more about aligning revenue recognition to your cloud accounting system, contact us.