Chargebee RevRec
Why Choose Chargebee RevRec?
Choose this if you want a revenue recognition tool built by accountants for accountants. It automates complex ASC 606 / IFRS 15 compliance, saving your finance team tons of time and headaches while giving you flexible, detailed reporting.
Chargebee RevRec is built-in revenue recognition software that helps your finance team to close their books quickly and completely with automated, GAAP-compliant reporting for recurring revenue businesses.How do you position yourself against your competitors?Chargebee’s RevRec module offers a revenue subledger tailored towards the accounting and finance professional. A tool built by accountants for accountants.RevRec, as a subledger supported by a month end close, automates recognition through the entire contract lifecycle by automatically processing modification events, and booking the adjustment to revenue in the correct, open accounting period.The UI is easy to navigate, key financial metrics are on hand, reporting is flexible whilst still providing the granularity that is required to answer the tough questions.RevRec utilizes a no frills approach to these metrics, to present data in the format that most finance professionals are used to.RevRec’s Accounting Rules Library provides a tremendous amount of flexibility for the instantiation of your accounting policy. Furthermore, the end-user has full control over updating these policies which enables our customers to not only gain compliance day 1, but also maintain compliance as they scale.
Chargebee RevRec Introduction
What is Chargebee RevRec?
Chargebee RevRec is an automated, ASC 606 / IFRS 15 compliant revenue recognition solution that: - Eliminates manual processes and provides end-to-end automation of ASC 606 / IFRS 15’s five- step model to recognize revenue - Unburdens finance teams and creates more time to focus on value-added activities for their business - Equips businesses with accurate, reliable insights to make strategic decisions with business growth in mind Chargebee RevRec provides a revenue recognition rules functionality, which allows accounting teams to handle commission deferrals, set up stand-alone selling prices, and configure revenue rules to identify performance obligations. Accountants can manage sub-ledgers, access journal entries, view accounting analytics, handle bookings, track sales commission expenses, and update commission terms. Additionally, employees can set up multi-currencies, monitor budgets, generate customized commission reports, and share sales reports in multiple formats, such as PDF, Excel, CSV, HTML, and plain text. Chargebee RevRec provides an application programming interface (API), which facilitates integration with several third-party applications, such as Stripe, HubSpot, Salesforce, and QuickBooks.
How to use Chargebee RevRec?
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Why Choose Chargebee RevRec?
Choose this if you want a revenue recognition tool built by accountants for accountants. It automates complex ASC 606 / IFRS 15 compliance, saving your finance team tons of time and headaches while giving you flexible, detailed reporting.
Chargebee RevRec Features
Revenue Recognition
- ✓Usage Tracking
- ✓Deferred Revenue
- ✓Revenue Accrual
Pricing
Performance
For Companies looking for a more automated, controlled approach to revenue recognition + reporting.
- ✓ Reallocation of Revenue for multi-element arrangements
- ✓ Automated processing of Contract Modifications
- ✓ Multi-currency support
- ✓ Automated Month end close
- ✓ Standard financial reporting reports such as Journal Entries, DR Rollforward, Revenue Backlog + Waterfall