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Complying with global standards like ASC606/IFRS15 for Revenue Recognition means a more accurate valuation and more brand credibility. To help you achieve that, Chargebee RevRec lets you design workflows that help you define, implement, and translate performance obligations into your General Ledgers and recognize revenue accordingly. With straightforward accounting controls and documented audit trails within Chargebee, your financial operations get incredibly more efficient.
Revenue recognition gets complicated when you have implementation fees, mid-cycle subscription changes, cancellations, and premature renewals. Doing this manually on spreadsheets can leave you prone to human error. Chargebee RevRec automates proration calculations for any subscription use case so that your revenue recognition process stays streamlined. You can also handle professional service charges and recognize multi-term contracts accurately.
One of the first things we had to do was to do revenue recognition correctly. And that’s why I started working with Chargebee. We now save over $42,000 every year by automating revenue recognition and accounts receivables via Chargebee.
With Chargebee RevRec plugged into your accounts receivables and subscription revenue, you get day-level accuracy in your reports and detailed Account Summaries that include everything from sales to bad debts and write-offs. Get multiple dimensions of your revenue recognition reports: by product, customer, revenue waterfall, and Contract Assets and Liabilities reports. Set your revenue recognition process on auto-pilot with Chargebee and guarantee your financial reports’ accuracy by basing them on the central source of truth.
Chargebee integrates with your tech stack right from your CRM to your accounting tools. Automatically update your AR the moment a deal is closed, or an invoice is raised. Sync revenue and cash flow between your books and bank. Simplify your entire Quote-to-Cash and Order-to-Revenue workflows to as little as clicking a button. And you can even create customized revenue management workflows with the tools you love and use. Chargebee makes your entire finance stack look and feel seamless.