Advanced Revenue and Expense Deferrals

Advanced Revenue and Expense Deferrals

Comply with complex accounting standards, ensure accurate forecasting, fast track reconciliations and create insightful reports easily. Achieve scalable accounting functionality and reduce the cost & time of calculating, recording and reporting on revenue recognition.

Reduce Your Risk & Comply with Revenue Recognition Requirements

  • Automate revenue recognition in accordance with complex and evolving accounting standards.
  • Effectively meet audit and compliance requirements in a timely manner.
  • Binary Stream‘s Advanced Recurring Contract Billing for Dynamics GP is designed to be ASC 606 compliant.
Detailed Auditors Report
ARED Schedule at the line level

Scalable Automated Revenue & Expense Recognition

  • Create automated schedules as revenue or expense transactions are posted.
  • Create recognition schedules for thousands of deferrals in minutes.
  • Whether your revenue recognition is straightforward or not – you can recognize items as they are consumed or based on various events or triggers.
  • Combine deferrable and non-deferrable items on the same invoice without a worry – deferrals are identified automatically.
  • Close your books sooner with streamlined month-end accounting procedures.

Gain In-Depth Control & Flexibility of Your Deferrals

  • Avoid the painstaking process of managing mass deferrals.
  • Benefit from the flexibility to manage deferrals by individual invoice item.
  • Set unique revenue recognition parameters for each deferrable item.
  • Gain complete control over the timing of when you post your revenue and expense recognition journal entries.
  • Apply different revenue recognition methods, including straight-line, events, milestones and percentage of completion.
ARED schedule at the line level
ARED forecast revenue

Forecast Revenue with Accuracy and Transparency

  • Enhanced business intelligence provides a holistic view of your revenue performance.
  • Gain full details of your revenue recognition activities of the past.
  • Analyze an impact of future revenue growth with detailed month-by-month revenue and deferral forecasting.
  • Satisfy your audit requirements with a snapshot of deferral balances at any point in time.
  • Reduce or even eliminate the use of spreadsheets and dramatically reduce errors.
  • Ensure the accuracy of your financial statements by never missing a deferral.

Satisfy IFRS, FASB, and GAAP compliances

    • “Revenue from Contract with Customers” or “Accounting for Multiple-Element Arrangements” – ensure your revenue is recognized according to the accounting standards.
    • Staying on top of revenue recognition is a major challenge, and it’s complicated by fast-changing rules. ARED supports the latest ASU 606, EITF 08-1, SOP 97-2, ASU 2014-09 [FASB ASC 606], and IFRS-15.
ARED Satisfy VSEO

A Fully Integrated Solution

Seamless Integration to Microsoft Dynamics GP: ARED is built in Dexterity, the native programming language of Microsoft Dynamics GP. With the same look and feel as you are used to in Dynamics GP, training time is minimized.

Flexible Deployment Options: Our products can be deployed on-premise, in a hosted environment or in the cloud as part of Microsoft Dynamics GP ERP.

Have Multiple Entities? ARED seamlessly integrates with Multi-Entity Management (MEM), a fully integrated solution to Microsoft Dynamics GP that offers true centralization of your many entities or divisions.

Seamlessly Integrated with Advanced Recurring Contract Billing (ARCB): Simplify subscriptions or recurring billing with your deferral schedules through integration with Advanced Recurring Contract Billing (ARCB).

Also Seamlessly Integrates to Our Other Products. Multi-Entity Management (MEM), Sales Document Consolidation (SDC), eMailer Manager (EM). Works in a product suite for software companies and other companies with subscription billing and recurring revenue requirements.

Third-Party Integrations. Since ARED integrates seamlessly with Microsoft Dynamics GP, you can benefit from a true end-to-end solution from front-end billing, eCommerce and ePayment solutions integrated into your Dynamics GP instance. With indirect integration, you can use SalesForce, SalesPad, CRM, Zuora etc as front end billing systems; Nodus CCA and k-eCommerce (formerly Azox) for credit card processing; CCH and Avalara for sales tax processing; EthoTech for Advanced Commissions.

Integration setup

Advanced Revenue Expense Deferrals

Enterprise Level Functionality at A Mid-Tier Price

Advanced Revenue and Expense Deferrals (ARED) was designed for Microsoft Dynamics GP users looking for a more robust, fully integrated revenue and expense deferrals solution.

Simplify Complex Deferrals

  • Create deferrals by line item and build schedules that allow complete control over the timing of sub-ledger and GL recognition postings
  • Reduce the time consumed in correcting deferrals. Deferral schedules in ARED can be corrected, cancelled or have credit notes applied with ease.

Automate Recognition Schedules

Create automated schedules as revenue or expense transactions are posted, linking back to the originating data such as invoice number, item number and vendor or customer number.

Line Level Revenue and Expense Recognition Within Dynamics GP

SOP and POP transactions allows for revenue and expenses to be deferred and subsequently recognized at the line level. Because the deferral schedules are built into Dynamics GP, there is no more need to create and manage complex Excel spreadsheets.

Advanced Revenue & Expense Deferrals

User Control of Journal Entry Creation – No More Posting to Future Periods

Unlike Microsoft Dynamics GP Deferrals, ARED does not create and post multiple journal entries to future periods; instead, a simple user interface allows the user to control which journal entries are created, and when.

Built-In Reporting to Allow Visibility

ARED has several reports built in to show both an audit trail of recognition activity, as well as a “snapshot” of the deferrals at a point in time.

Revenue Recognition for the Software Industry

Software companies are required to follow industry-specific guidance for revenue-generating activities. ARED is a key product addressing these industry-specific requirements.

Event Based Revenue Recognition

Revenue is not always recognized in a straight-line fashion, or following calendar or fiscal period setup. For example, there might be a need to recognize revenue based on certain “triggers”, “events” or “milestones”. Alternatively, there might be a need to recognize revenue based on “consumption” or “usage” (fixed or variable amounts or percentages), or even “percentage of completion”. ARED’s Event Based Revenue Recognition module allows users to set up various revenue recognition scenarios that are not strictly calendar based. Using manual input or the included eConnect node, the recognition dates can be input as the events are met, and ARED will pick up the revenue the next time the recognition journal entry process is run.

Sophisticated Revenue Recognition Options

  • Support revenue or expense recognition per diem or equally monthly, prorate the first and last periods for mid-month transactions.
  • Monthly, quarterly, semi-annually, and annual recognition frequencies.
  • Adjust recognition schedules by applying a credit memo.

ARED Event Based Schedule

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Browse our Advanced Revenue Expense Deferrals resources

Advanced Revenue Expense Deferrals Webinar On-Demand

Do you want to automate revenue deferral and recognition with a solution that is scalable to growth, flexible for new business models and products, maintains compliance to evolving regulatory requirements and is delivered a low cost of ownership? Learn more.

WireOne streamlines their billing with Advanced Revenue & Expense Deferrals

WireOne was spending a significant amount of time managing their revenue and expense deferrals to comply with the SOP 97-2 accounting standard. After coming to Binary Stream they soon found a solution to their situation in the Advanced Revenue & Expense Deferrals.

Advanced Revenue Expense Deferrals White Paper

Deployment Strategies for Deferred Revenue & Expense Management using Microsoft Dynamics
GP.

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