Is it possible to book revenue recognition without yet another spreadsheet? YES! Sage Intacct is is giving customers all over the world an easy revenue recognition process, saving time and headache.
The AICPA ASC 606 guidelines specify rules for recognizing revenue. If those strict arrangements matter to your organization, check out our subscription billing video. Rest assured, even for the most complicated of arrangements, Sage Intacct has you covered.
A World of Options
But even in easier scenarios, we still have options. In our video, we walk through a straightforward, streamlined example. Even organizations with more simplistic revenue recognition requirements can:
- Speed up month-end close
- Remove countless error-prone spreadsheets and schedules
- Make invoicing and good reporting a snap
- Use flexible templates and rules to reduce or eliminate mistakes
- Tell the system to automatically post transactions
- Reduce audit costs
- Do more with less!
Think about it: for every line of every sale that needs to be deferred, you could make a spreadsheet. You could plan out the timeframe where you want to recognize revenue (over a year? Six months? Something ad hoc?). If you have a single sales transaction with one line then great, all is well. But what if you have many people adding many lines on many sales documents? Plus, you can expect changes, terminations, extensions, and adjustments… what started out as a simple revenue recognition exercise can quickly become a spreadsheet nightmare.
The End of Spreadsheets
As many as 92 percent of public companies rely on a spreadsheet for critical revenue-accounting tasks.
Interested in doing better? Sage Intacct can increase the productivity of your team by automating this process. Audits become easier and less expensive as the risk of restatements fade away. More visibility into deferred revenue surfaces for enhanced accuracy and an easier process.
You can also check out another demo on-demand from Sage Intact to get more in-depth details on easy revenue recognition.
Want to get started? Give us a call at 855.913.3228 or fill out our simple web form and someone will get back to you within 1 business day. At Alta Vista Technology we take pride in being part of your solution!