Invoicing and collections are not always straightforward – delayed payment terms, recurring payments, deferred revenue recognition, and other variations can make collections and accounting difficult to manage. The Deferred Revenue Management module and recurring billing capabilities in the Acumatica ERP financial suite helps automate and accurately account for these challenging situations.
Custom-fit your billing models to meet today’s requirements, with the flexibility to adapt as your business grows and your billing needs change. Acumatica’s recurring revenue capabilities are tailor- made for subscriptions, metered usage, on-demand, tiered services, and one-time transactions. Payments and invoices are seamlessly managed across customers, accounts, districts, organization, channels, and product lines.
Deferred Revenue lets you recognize revenue or expense in future time periods. An example would be the revenue recognition of mixing tangible items (like a computer) with non-tangible products (such as software). Fully integrated with both Accounts Payable and Accounts Receivable, the system generates deferral transactions automatically in accordance with assigned deferral codes. Acumatica supports the new joint standard on revenue recognition published by IASB and FASB and scheduled to replace U.S. GAAP and IFRS effective January 2017.
You can also handle contract renewals with ease using automated scheduling and management of renewal activities through automated views of renewals due, past due renewals, and completed renewals.