Revenue Accounting: it doesn’t have to be complicated!
Sure, managing bundled contracts with a combination of products and services with varying delivery schedules can become complicated. Tracking these factors manually is a significant task and can lead to errors when recognizing revenue. But in its simplest definition, revenue accounting comes down to recognizing revenue when realized and earned, not when cash is received.
Sounds easy enough if your company sells one-time products, but what if your sales involve bundled contracts? The complication factor gets raised quickly. That’s why we’ve broken down the key challenges within the 5-step framework to explain how automation and flexibility help overcome these challenges. Get the white paper to learn more.