Preparing For ASC 606 - 8 Components Of A Rock Solid Revenue Recognition Policy
SaaS revenue recognition can be complicated and with ASC 606, it’s become even more challenging
Revenue recognition is critical for every SaaS business, which is why it’s equally important to roll-out policies and procedures that will ensure revenue is recognized consistently across your business and adheres to the New Revenue Recognition Standard (ASC 606)
In this guide, we’ll walk you through how to create an accurate, compliant and consistent revenue recognition policy using these eight critical components:
- Revenue types
- Special Deals
- Setup Fee Revenue
- Ongoing Support Revenue
- Hourly Support Revenue
- On-site/Web-based Training
- Relative Selling Price Allocation
- Financial Reporting
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