Revenue is the largest single number in the financial statements that attracts a great deal of user attention & is the foundation of a company. It is therefore important that it is recognized, measured, and presented rightly, so that the users are given the exact information they require. There are various methods of revenue recognition, but every business will need to select one that is appropriate for their business model.
SARCI FIN-Drills automates recognition calculations, eliminates error-prone, and time intensive spreadsheets, and adheres to key revenue recognition standards.
Available only in consultation with our Partner CA & ICS Firms.
Given below is an Example of the parameters being captured in deriving the Revenue Recognition.
- Pull in Sales, Deposits, Payments
- Configure Rules such as Sales Limits, Region
- Classify as Recognized vs Deferred
- Recognize based on several methods available,
- Time of Sale, Percentage Completion, Cost Recoverability, Installation Method, Brokerage
- E-Commerce Trade Settlement
- Construction & Real Estate
- Project Consultancies
- Wholesale Distribution
- POS Settlement