Armanino’s Revenue Recognition Management
by Armanino LLP
Simplify your accounting and manage revenue recognition, BESP, deferrals, reallocation and carveouts
Companies selling bundled products such as hardware, software, services, prepaid support tickets, warranties and maintenance agreements must be able to break out these multi-element orders to recognize revenue based on company and industry guidelines such as vendor specific objective evidence (VSOE) to comply with US GAAP. With Revenue Recognition Management, companies can increase productivity through process automation, scalability and standardization, achieve accurate and timely revenue recognition and financial reporting, reduce risks associated with a reliance on spreadsheets and manual processes, and gain accuracy and visibility into revenue forecasts.
Many features from Armanino's Revenue Recognition solution have been added to the Dynamics 365 Finance solution. An additional feature offered by the Armanino team is around billing schedules.
Billing Schedules allow for multiple invoices to be posted against a single sales order line, following a specified frequency such as Month, Quarter, Year or Custom. This functionality eliminates the need to enter multiple sales lines or quantities to accommodate billing events and also align revenue recognition accordingly. It also provides table data necessary to produce Projected Billings Reporting. It includes the creation of:
- Unbilled AR Posting control
- Accrued Revenue Posting control (to support Arrears billings)
- A new sales order status of Partially billed.
Additional supported features of Armanino's Revenue Recognition Management solution include:
- Multi-element and multi-deliverable arrangements
- Maintaining List Price, VSOE Price & Deal Price
- VSOE Carve-outs and Price Management
- Deferred Revenue Management
- Revenue Recognition Schedules
- Subscriptions & Renewals
- Supports Product Bundles/Kits
- Daily prorated contracts to coincide with monthly recognition schedules
- Revenue forecasting & reporting
- Multi-order Reallocations