Onetime, Project, Hourly, and Overage revenue calculations and handling
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Track completion of performance obligations and recognize revenue from One-Time, Project based, and Hourly services accurately.
Variable usage limits are identified at contract creation and overage revenue is logged and calculated automatically (Requires manual entry, data upload, or use of API).
The Insightful Revenue platform calculates and creates journal entries to recognize One-time, Variable, and Overage revenue at months-end.
Eliminate inaccurate data and estimates from Onetime, Project, and Hourly performance obligations.
Revenue Recognition process for Onetime, Project, and Hourly product obligations
View outstanding performance obligations for each company via an individual tab listing each group of outstanding One-Time, Project, and Hourly product obligations at any time.
"Single Click Process" to send an easy to complete form, 3-5 questions, which the internal obligation owner completes.
Onetime Obligations
Overall Status (complete or outstanding)
Date Obligation Completed
Documentation (Proof of completion)
Project Obligations
Overall Status (complete or outstanding)
Percentage Completed (this month)
Documentation (Proof of completion)
Hourly Limit Obligations
Overall Status (complete or outstanding)
Hours Completed (this month)
Documentation (Proof of completion)
Responses are logged and presented to Accountant for review and approval.
Month-end Revenue Recognition automatically calculated to include only those items for which the performance obligation has been completed.
Eliminate time consuming and potentially inaccurate spreadsheets from Usage tracking and Overage revenue calculation.
Tracking contractual usage limits, usage activity, and calculating overage revenue earned in a single platform just makes sense.
The Insightful Revenue system constantly compares contractual product usage limits to actual usage to calculate overage revenue opportunity throughout the month.*
Your Accounting team can review and report in real-time all overage revenue calculated.
When appropriate to bill, your team reviews the invoice, approves, and sends to client for payment processing.
*Overage calculation does requires data collection via manual entry, uploads, or integrated data feeds.
Key Benefits:
Track and log key performance obligation completion data, (date of task completion, task owner, and supporting documentation) for accurate revenue recognition for One-Time, Project, and Hourly services.
No longer manually track usage vs. contractual limits and earned monthly overage revenue in unwieldy spreadsheets. These calculations are done automatically in the Insightful Revenue system, by product, to ensure accuracy, integrity, and a level of detail previously impossible to achieve.
The Insightful Revenue system significantly reduces your month-end workload by automatically creating supporting documentation and month-end Journal Entries for your Accounting team to review and approve.
Eliminate manual month-end Revenue Recognition journal entries will be posted to your GL/ERP upon approval.
All One-Time, Project, Hourly, and Overage Revenue documentation and supporting schedules are ready for internal or external Audit review.
