Revenue Recognition Accounting
For better control and visibility get revenue recognition accounting software
Revenue recognition is crucial in assessing a company’s performance and prospects. It has a major impact on the overall success of a business, and when it is not properly adhered to or managed, it can affect the balance sheet. Being complex and difficult for the usual, older, product centric ERP systems to contemplate, many organizations often struggle with revenue recognition. Simplify the revenue recognition process and improve the auditability of your revenue recognition information with FinancialForce.
Get the facts on revenue recognition accounting software
Revenue Recognition Datasheet
FinancialForce Revenue Recognition Accounting is designed help organizations simplify the process of collecting information for revenue recognition, performing calculations and accurately generating the accounting entries - in line with accounting standards, while maintaining a controlled, consistent, and auditable record of revenue.
With FinancialForce, businesses can gather information from revenue generation activities, and create recognition workflows based on trigger events tracked on the Salesforce platform. It can also gather revenue information from objects on the platform, including Salesforce objects such as opportunities, cases and contracts; FinancialForce Billing invoices and credit notes, and much more.
The FinancialForce advantage includes:
- Clear visibility and audit trail into the various aspects of the revenue recognition process
- No dependency on spreadsheets and issues associated with data integrity
- Prevention of duplicate entries and posting errors
- A firm foundation for financial compliance
Reduce the time spent on the process, give your company greater control, and provide complete visibility of your revenues.
Revenue Recognition & Forecasting Tour - Watch Now
Centralize revenue streams in a single revenue recognition solution. Get compliant with the new ASC 606 & IFRS 15 standards. Automate calculations, reduce your period-end close and gain a complete picture of your organization’s revenue - both recognized and deferred.