Full revenue recognition functionality and cost control to
allow your organisation to perform project accounting according to
your own agreed rules.
IRIS SharpOWL offers
much more control over
our projects, especially the financial aspects. We're quickly
getting dangerously close to being accountable
for all of our projects.
Liberata
Read the full case study
IRIS SharpOWL streamlines and automates the time-consuming,
error-prone administration of revenue recognition, even where you
operate a complex business model of multiple clients and projects
in different geographies. No billing opportunity is overlooked in
the drive to
increase your profitability.
The module ensures consistency across your organisation;
allowing you to build in any revenue recognition rules that you use
and
apply them to projects accordingly.
Complete flexibility
The software will generate revenue postings based upon
the cost control rule you
set but will additionally allow you to make revenue adjustments
based on current knowledge of any project status to work with your
project accounting. Contingencies can be allowed for, with the
revenue being taken only when the agreed stage has been
reached.
Revenue recognition reports
A comprehensive suite of reports accompanies the Revenue
Recognition module, all designed to make the process easier and to
help you ensure that revenue is recognised consistently and
accurately across all projects. The reports provide comprehensive
information on:
- Projects that qualify for revenue recognition but have not had
a revenue
method selected
- Projects for which the pre-requisites have not yet been
configured
- Revenue batches that have yet to be released
- Projects that have not been processed in a selected accounting
period
- The values held for a revenue batch
- The revenue taken over the lifetime of a project