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Aria Knowledge Central

Revenue Recognition

Revenue Recognition
Revenue recognition provides a meaningful and consistent measurement of business performance. In recurring revenue, it is important to match the revenue and the costs incurred to generate that revenue in the same period, regardless of when the seller’s invoice is issued or the customer’s payment is received.
  • Revenue Recognition in Compliance With ASC 606 and IFRS 15
    Aria Revenue, powered by SOFTRAX, offers a purpose-built solution designed specifically for ASC 606 and IFRS 15 and representing a new era in revenue recognition.
  • Revenue Recognition Accounting Entries
    Each line item in an Aria SmartRec report represents a single accounting entry. These entries fall into one of four basic entry types: Debit to Accounts Receivable, Credit to Deferred Revenue, Debit to Deferred Revenue, and Credit to Earned Revenue.
  • Revenue Recognition and Transactions
    Aria Revenue Recognition supports Invoice Transactions, Write-Off Transactions, Reversal Transactions, Void Invoice Transactions, Void Write-Off Transactions, and Void Reversal Transactions.
  • Revenue Recognition Detail Report by Accounting Period
    The Revenue Recognition Detail Report by Accounting Period chronicles debit or credit amounts for the following GL account entries associated with your revenue recognition-related services for a specified month: Accounts Receivable, Deferred Revenue, Earned Revenue, and Accrued Tax Liability
  • Revenue Recognition One Year Summary Forecast Report
    The Revenue Recognition One Year Forecast Report contains the total amounts of deferred revenue and earned revenue associated with all of your Revenue Recognition-related services.
  • Revenue Recognition Overview
    Aria Revenue Recognition provides a representation of account activity—primarily financial transaction activity—so accounting systems have visibility into the amount of revenue that should be regarded as deferrable, and the amount of revenue that should be regarded as earned in a given period.
  • Revenue Recognition Profiles
    The Profiles screen provides the ability to assign a revenue recognition profile to an account.
  • Revenue Recognition Reporting Conditions
    In Revenue Recognition, all transformable services are either Deferrable or Non-Deferrable, and all invoice line items are represented on reports either for periods in which the charge originated, or in periods after the charge originated.

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