The only solution that helps you transition to new standards
Contract and Revenue Management
If you sell contracts or subscriptions, new revenue recognition guidelines (ASC 606 and IFRS 15) can threaten to overwhelm your finance teams with laborious processes and spreadsheets. Intacct Contract and Revenue Management is a comprehensive solution that completely addresses all the upcoming rules for revenue reallocation and expense amortization, so that you can focus on your core business and profitably serve your customers.
New Guidelines and Requirements
Reallocations for changes Deferral of expenses Dual treatment during transition
ASC 606 and IFRS 15 focus on a single contractual relationship for each customer. This means that revenue reallocation for add-on product sales and other changes will happen more frequently. Additionally, any sales related expenses must be amortized along with the contract. (On the same or a different schedule as revenue depending on your situation.)
One of the most difficult and time consuming tasks you’ll face will be managing the transition process to the new guidelines. Fortunately, Intacct completely automates dual reporting and posting with different accounting treatments for current and ASC 606 and IFRS 15 guidelines, saving hours of time and effort.
Flexible Pricing and Subscription Billing
Billing Schedules Usage Billing Add-ons Renewals
Intacct provides the flexibility to handle linear and non-linear schedules and usage-based billing with optional tiers. Additionally, you’ll easily handle add-on sales, upgrades, downgrades, and renewals while keeping a single view of the contract all in one place.
Sophisticated Reporting and Metrics
P&L by contract Track unbilled, billed, and paid revenue Billing and revenue forecasting
Intacct provides detailed subscription and contract insights, with sophisticated reporting and metrics.
The contract is an Intacct dimension so you can easily generate a P&L of each contract.
See unbilled, billed, and paid revenue all in one view.
Generate detailed forecasts for all your billing and revenue information.
Intacct also prepares you for an audit by including a contract checklist and sign-off capabilities for each step. You’ll also be able to see side-by-side comparisons of the accounting treatments for current and new revenue guidance so the differences are easy to see and drill into as necessary.
Watch this short video to see how Intacct automates the most sweeping change to revenue management in a decade:
Would you like a complementary assessment of how Arxis + Intacct can help you transition to the new revenue recognition standards and automate contract management?