1. FinancialForce Revenue Recognition™
Automate your revenue recognition process on the Salesforce Platform
Managing revenue recognition can be painful on a good day. This is due
to changing regulatory requirements, evolving business models, an over
reliance on manual processes, and/or poor visibility of both recognized
and unrecognized revenue. It’s time to get a complete picture of your
organization’s revenue with the cloud-based solution from FinancialForce.
com. It automates recognition calculations, eliminates error-prone and timeintensive spreadsheets, and adheres to key revenue recognition standards.
Eliminate complex revenue recognition spreadsheets
Are you spending your valuable time entering data into huge, multi-row documents
that attract the attention of auditors? Simplify the revenue recognition process while
improving the auditability and visibility of your revenue recognition information by
managing it on the Salesforce Platform alongside your other revenue generating activity.
• Eliminate manual processes and calculations (saving time and money, while
eliminating costly errors).
• Deliver clear visibility and auditability into all aspects of the revenue recognition
process.
• Rid yourself of the dependency on spreadsheets and associated data integrity
issues - get one source of the truth .
• Put revenue recognition information in a secure, central place online.
Link recognition entries tightly to source data
Rather than re-entering source data and trigger event information into spreadsheets,
you can simply link to the source data stored on the Salesforce Platform. This ensures
data integrity, eliminates manual processing issues and direct links for audit trails.
• Traverse the complete audit trail from journal entries to the source element objects.
• Link to sources that include:
• inancialForce PSA expenses, timecards, misc adjustments and budgets
F
• Financialforce Accounting – sales invoices and credit notes
• Custom objects such as contracts, service agreements
• Salesforce objects such as opportunities and cases.
• Use ClickLick™ to import source information without coding.
Stay compliant and in control
FinancialForce Revenue Recognition supports AICPA, FASB and SEC regulations
(including SOP 81-1, SAB 101, and EITF 00-21) including the requirements for Vendor
Specific Objective Evidence or VSOE. It also supports Sarbanes-Oxley compliance
with Section 404.
• Provides a firm foundation for financial compliance.
• Includes controls to prevent duplicate entries and posting errors.
• Documents audit trails easily with links back to source data on the Salesforce
Platform.
FinancialForce Revenue
Recognition is changing
the way we look at projects. We
now have access to accurate
information on revenue by project
so we can see how our projects are
performing and act accordingly.
Not only will this save us time,
but also money previously lost to
unbilled time.
Jocelyn Fennewald
Financial Analyst, Ahead LLC
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