Income and revenue recognition software to help simplify your business success
Let MYOB Advanced deferred revenue accounting work for your business
Assign a schedule to your transactions or inventory to help improve your revenue recognition accounting in future periods; allowing you to accurately implement and account for deferred revenue and expenses.
Deferred Revenue Accounting
Establish schedules to automatically calculate deferred revenue - and then post and be recognised in financial statements.
Customised deferral schedules
Create and use templates to easily schedule work for your complex business requirements. Schedules can be linked to transactions or line numbers on income documents.
Multiple Recognition Methods
Choose how to recognise your revenue over time and comply with all recognition requirements - whether that is evenly across financial periods, pro rata by number of days, or when payments are received.
Financial Module Integration
Process sales orders and purchase orders by attaching schedules to inventory items and using templates to manage expense amortisation.
Important features of the deferred revenue module
Templates make your day-to-day tasks easier. Create ready-to-use templates for your revenue recognition processes and link them to your accounts, sub-accounts and inventory components.
Schedule your revenue recognition at a time that works for you. At the start or end of a financial period, or even on a fixed day during each period.
Make complex situations like included warranties simpler, with the ability to automate revenue recognition for items. Divide inventory items into component parts, and apply different deferrals to single inventory items.
Have confidence in your reporting with automatic generation of customised reports.
Keep track of all edits to transactions with comprehensive audit trails. User ID tracking gives you confidence in your reports.