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It provides equally strong support for complicated, multi-element contracts that require appropriate approvals and careful interpretation of revenue recognition guidelines, such as: the AICPA’s Statements of Position SOP 97-2, SOP 98-9 and SOP 81-1; the FASB’s Emerging Issues Task Force recommendation EITF 00-21; and the SEC’s (Staff Accounting Bulletins) SAB 101 and SAB 104. With Softrax Revenue Manager, your financial infrastructure is robust and flexible enough to manage vastly different revenue recognition challenges in a single application.
Softrax Revenue Manager connects revenue data to your operational infrastructure. Time-consuming off-line processing is eliminated, providing for much faster (and more accurate) revenue analysis. As a result, the monthly close process can be completed with up-to-date revenue data within the normal timeframe.
Softrax Revenue Manager enables you to apply multiple criteria for revenue recognition on a line item basis. As a result, it can manage the most complex revenue transactions that occur in different types of businesses. It is very adept at managing high-volume transactions where revenue recognition treatments need to be automated, e.g.: the creation of revenue schedules based on templates, revenue allocation based on FMV or VSOE, and making proper revenue accounting and General Ledger entries as revenue recognition occurs.
"Revenue Processing" is part of the Softrax Revenue Manager - Revenue Recognition for ERP line of products, developed by Softrax.