Revenue Recognition Software for B2B SaaS
Stop maintaining revenue schedules in Excel. TrueRev turns each SaaS contract into an ASC 606 revenue schedule, a deferred revenue balance and journal entries, and connects to QuickBooks Online. Fewer manual errors. One version of the truth.
What is revenue recognition software?
Revenue recognition software works out when, and how much, revenue you record for each contract under rules like ASC 606. For B2B SaaS, that means a schedule for every contract, a clear view of billed, deferred and recognized revenue, and journal entries for your books.
From contract to journal entry
Add the contract
New deals, upgrades, cancellations and expansions are tracked as contract events.
Choose the recognition method
Ratable, all-at-once or percentage of completion.
Review the journal entries
They are ready for your QuickBooks Online books.
Recognize revenue the way your policy requires
TrueRev's revenue engine supports three methods. Ratable: revenue is spread evenly over the service period, as with most subscriptions. All-at-once: revenue is recognized at a single point in time. Percentage of completion: revenue is recognized as the work progresses, as with implementation projects. Have a different policy? Ask about it on a demo.
The same revenue, three ways to recognize it
The method changes when revenue shows up, not how much. Here is a simple illustration for each.
| Method | Example | Recognized |
|---|---|---|
| Ratable | $12,000 annual subscription | $1,000 each month for 12 months |
| All-at-once | $2,000 one-time fee for something delivered in a single step | $2,000 when it is delivered |
| Percentage of completion | $10,000 implementation project, 40% complete | $4,000 so far, the rest as work progresses |
Illustrative examples, not customer data. Which method applies to your contracts is a decision for you and your accountant. TrueRev supports all three.
Stay compliant with ASC 606 when you bill more than a subscription
Do you charge your customers any combination of these: SaaS, professional services, set-up fees, variable fees, or other one-time or recurring fees? If so, correct revenue recognition under ASC 606 becomes a big deal. Spreadsheets get harder to trust with every new contract.
Features
Move your revenue schedules off of Exceland eliminate multiple spreadsheets, manualerrors and version control.
Simply account for your monthly revenue and the deferred balance.
Keep track of all agreements even in a fast paced SaaS environment.
Move your revenue schedules off of Excel and eliminate multiple spreadsheets, manual errors and version control. Stay compliant with ASC 606.
Generate subscription metrics in minutes instead of days (MRR/ARR, Bookings, Churn, Cash-flow).
New deals, upgrades, cancellations, expansion - all tracked easily and accurately.
Built to work with QuickBooks Online and HubSpot
QuickBooks Online
Connect TrueRev in under 3 minutes. Sync customer information, invoices and your chart of accounts from QuickBooks Online. TrueRev is an official QuickBooks Partner.
HubSpot
Import closed-won deals from HubSpot. TrueRev suggests matches to your QuickBooks customers and products, and your finance team confirms them before a contract is created.
Revenue schedules in Excel vs. in TrueRev
| Excel | TrueRev | |
|---|---|---|
| Building schedules | Formulas written and checked by hand | Schedules built from each contract |
| Recognition methods | Custom formulas for each policy | Ratable, all-at-once, percentage of completion |
| Upgrades and cancellations | Edited by hand | Tracked as contract events |
| Versions | Multiple files and versions | One platform |
| Subscription metrics | Compiled by hand | MRR/ARR, bookings, churn and cash flow in minutes |
| QuickBooks | Manual journal entries | Connects to QuickBooks Online |
What our customers are saying
Revenue recognition questions, answered
Do I need revenue recognition software if I use QuickBooks Online?
QuickBooks Online Advanced can automatically track and enter deferred revenue, but that feature is only on the Advanced plan. TrueRev is built for B2B SaaS contract schedules, subscription metrics and contract events, and it connects to QuickBooks Online.
When should a SaaS company move revenue recognition off Excel?
Move when schedules stop being easy to trust. Common triggers are more contracts, mixed fees (subscription plus services or set-up), frequent upgrades or cancellations, and investor or audit reporting. Check the timing with your accountant.
Does ASC 606 apply to private SaaS companies?
ASC 606 applies to entities that report under US GAAP, public or private. Your accountant can confirm how it applies to your contracts.
What does a revenue schedule show?
For each contract, it shows billed, deferred and recognized revenue over time. That tells you what to accrue and when.
What if my revenue recognition policy is unusual?
TrueRev supports ratable, all-at-once and percentage-of-completion recognition. If your policy differs, book a demo and we will look at it.
How much does TrueRev cost?
See the pricing page for current plans. A 14-day free trial is available.
Want to see a demo?
we offer a 14-day free trial.