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Revenue recognition software

Intelligent, automated, compliant revenue recognition to help your company scale—with complete support for ASC 606 and IFRS 15.

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Booked Revenue 283,643 Projected Revenue 848,875 Licenses Subscription Package Total Revenues by Revenue stream 0.00 30.00K 20.00K 10.00K 40.00K 50.00K Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Revenue Recognition

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Automation and productivity highlights

Automate revenue management with revenue and expense reallocation.
Manage changing requirements smarter with dual treatment and reporting.
Flexibly configure expense amortization on your revenue recognition terms.
Gain a complete view of your revenue with metric-based reporting.
Mon Tue Wed Thu Fri Sat Sun 0 $10k $20k $30k $40k Jan - Feb 2023 Revenue Forecast ASC 606 Recognizing Revenue $147,293K +$114,287 vs prior month

Automate compliant revenue recognition

Sage Intacct revenue recognition software removes the complexity, time, and frustration associated with revenue recognition.

  • Automate day-to-day revenue recognition tasks and regulatory compliance
  • Flexibly configure expense amortization to match or differ from your revenue recognition terms
  • ASC 606 and IFRS 15 compliant

Even as Jobvite doubled its size, it successfully accelerated the quote-to-bill cycle by 30 % and improved finance efficiency by 25 %. Read their story

Simplify complex revenue management

Manage finances even as contracts change, with total visibility of how new changes affect your financials.

  • Automatically recognize revenue according to accounting standards with templates and schedules
  • See dual treatment of contracts according to both ASC 605 and ASC 606
  • Recognize revenue and amortize expenses, even as contracts change
Acquia cut order-to-bill processing time by 50 %, trimmed DSO by 10 %, and increased operational cash by 10 %. Read the customer success story

Turn orders into cash

Sage Intacct's recurring-revenue management and revenue recognition solution lets you integrate with Salesforce to save time and reduce manual errors.

  • Integrate with Salesforce for a seamless, bi-directional flow of order, customer, and contract data
  • Streamline subscriptions and recurring-revenue recognition with real-time updates to accounting and billing
  • Share real-time updates on discounts, usage, renewals, upgrades, cancellations, and other changes

Cornerstone Information Systems save nearly 2 weeks a month of manual data entry thanks to tight Salesforce integration and increased productivity to help save $150,000 annually. Read the customer story.

Deliver relevant insights fast

Sage Intacct shows you every stage of the revenue lifecycle so you're ready with quick answers for customers and colleagues.

  • Quickly see order, fulfillment of performance obligations, revenue recognition, billing, and collection details
  • Get deep, actionable views into revenue value and profitability with customized dashboards
  • View revenue from multiple dimensions—by contract, products, divisions, and more
What can I do here? Contract lines Item Line no Item description State Line start Line end Total flat/fixed amount Billing method Billing status 606R status 656R status Change type New MRR Completed Completed Completed Fixed price 31,850.00 12/31/2023 01/01/2023 In progress -- 10100--Main Module Subscription 1 New MRR Completed Completed Completed Fixed price 552.00 12/31/2023 01/01/2023 In progress -- 10200--User License Full 2 New MRR Completed Completed Completed Fixed price 5,000.00 12/31/2023 01/01/2023 In progress -- 10300--Support Level 1 3 New MRR Completed Completed Completed Fixed price 5,000.00 12/31/2023 01/01/2023 In progress -- 10110--Additional Module 1Subscription 4 What can I do here? Contract expense details Item ID Line no GL posting date Exchange rate date Exchange rate Amount Base amount 606E status 606E status Start date Start date End date End date 3,500.00 3,500.00 Completed Completed 01/01/2023 01/01/2023 01/31/2023 01/31/2023 View schedule 1 View schedule 1 01/01/2023 -- 1 10700 1

Out-of-the box revenue recognition functionality

Enjoy out-of-the-box functionality that reduces the need for IT resources. You can handle revenue management requirements with configuration, not scripting. Structure your workflows to capture and edit contracts natively in Salesforce without additional integration software.

Quaero saved 20 hours/month preparing reports and cut their monthly close to a single day. Read the case study

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Brett Belcastro

Revenue Controller, Acquia

Sage Intacct’s revenue recognition solution lets us keep everything centralized, even though we’re managing fairly complex, multi-subscription contracts on annual or quarterly billing schedules. The system does a good job of handling different revenue recognition templates for each subscription type – improving our whole order-to-cash process and increasing the accuracy of our financial data. Now, when our sales team closes a deal in Salesforce, order details are automatically added to Sage Intacct, my team validates the revenue schedule and then generates an invoice in just five minutes.

Acquia

Revenue recognition software FAQs

Revenue recognition is the accounting process that companies use to recognize revenue earned by a product or service provided.

Revenue recognition is important because it maintains the integrity of your company's financial reporting, by standardizing how you record revenue so you can measure quarter-to-quarter performance consistently.

Beginning in 2018 for public companies and 2019 for private companies, the Financial Accounting Standards Board's (FASB) and International Accounting Standards Board (IASB) new ASC 606 and IFRS 15 revenue management guidelines will require companies to identify performance obligations in existing contracts, reallocate revenues each time a customer contract changes, and defer expense recognition to align with the contract's delivery. As a result of these changes, contract add-ons and renewals must be integrated into a single contract and will trigger reallocations across both past and future periods—causing continuous revisions to revenue allocations and expense alignment.

Ideally, there are six key features that SaaS accounting and revenue recognition software should include :

  • Be able to automate revenue allocation.
  • Connect billing and revenue recognition.
  • Use dual reporting for preparation and compliance.
  • Sync with upstream CRM and contract processes.
  • Provide visibility for all key stakeholders.
  • Speed adoption with true multi-tenant cloud architecture.

Luckily, your path to ASC 606 and IFRS 15 compliance starts with Sage Intacct. Sage Intacct natively supports the new rules, lightening the burden on your finance staff with automated revenue recognition built in.

Sage Intacct has a revenue recognition module built on Sage Intacct Core Financials. Revenue recognition software removes the complexity, time, and frustration associated with revenue recognition.

Our subscription revenue management software simplifies revenue management. Automatically recognize revenue using templates and schedules to meet accounting standards even as contracts change. And flexibly configure expense amortization to match or differ from revenue recognition terms.

The key benefits of our Revenue Recognition software include :

  • Automate day-to-day revenue recognition tasks and regulatory compliance
  • Align revenue recognition with expense allocations
  • Automate your most important process – turning orders into cash
  • Deliver relevant insights to all stakeholders

Many public and private companies still use spreadsheets for critical revenue management tasks, which takes up a lot of time and is error-prone. Revenue recognition gets complex fast, especially when you consider multiple entities, subscriptions, licenses, services, etc., exposing a large number of issues from compliance, to audits, to proper forecasting. SaaS businesses must get revenue recognition right every time.

Cloud-based revenue recognition software helps your business manage revenue recognition with ease, so you can say goodbye to those unaudited spreadsheets and manual reconciliations. Sage Intacct translates your sophisticated revenue recognition requirements to simplified, streamlined workflows to get you the results your business requires.

With Sage Intacct's revenue recognition process, you will :

  • Strengthen compliance and achieve consistency throughout your organization
  • Control deferred-revenue transactions and see the impact on reporting and forecasting
  • Accelerate month-end close
  • Reduce audit costs

Sage Intacct revenue recognition software allows you to :

  • Flexibly define specific recognition templates and rules
  • Automatically generate amortization rules and apply these across individual contracts or order line items
  • Automatically recalculate deferred and recognized revenues when change is required

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Expert advice

Ready to learn more about what Sage Intacct can do for your business ? We are, too. Our product experts are here to guide you every step of the way.

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