Order Entry Transactions with Revenue Recognition in Sage Intacct

In Sage Intacct, order entry transactions with revenue recognition are used to manage the lifecycle of sales orders and automate the revenue recognition process for transactions that span multiple periods or have complex billing structures. This ensures that revenue is recognised in accordance with accounting standards, based on how and when the company has fulfilled its obligations to the customer.

This video walks you through how to create order entry transactions with revenue recognition within Sage Intacct.

Key Benefits of Using Order Entry Transactions with Revenue Recognition in Sage Intacct:

1. Automated Revenue Recognition: Sage Intacct automates the revenue recognition process based on predefined schedules and recognition methods, ensuring compliance with accounting standards.
2. Flexible Revenue Recognition Methods: You can choose from various revenue recognition methods like time-based, milestone-based, or percentage-of-completion to match the nature of your contracts and services.
3. Integration with Financials: Revenue recognised from order entry transactions is seamlessly integrated into your General Ledger (GL), ensuring consistency and accuracy in financial reporting.
4. Deferred Revenue Management: Sage Intacct handles deferred revenue (for payments received before revenue is recognised), which ensures that your company accounts for future revenue appropriately.
5. Improved Financial Visibility: Real-time tracking and reporting of recognised and unrecognised revenue help provide clear visibility into your financial performance, improving decision-making and financial planning.