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- Revenue Recognition
- Process
- Schedule to billing review
Schedule to billing review
Start with a customer contract and a product that has a defined recognition method. Revenue Accountant creates a schedule with dates and total amount, then checks recognized to date and deferred balance. Billing Operations Manager links the relevant invoice line to the schedule and groups the invoice into a billing run. This makes the service period and billing period inspectable together.
Step by step
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Set up customer and product Admin
Provide the customer, product and owning entity.
- Provide the customer, product and owning entity
- Updates Customers, Products, Organizations
-
Create revenue schedule Revenue Accountant
Record contract reference, method, dates and amount.
- Record contract reference, method, dates and amount
- Updates Revenue schedules
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Review recognition balance Revenue Accountant
Inspect recognized and deferred amounts and supporting file.
- Inspect recognized and deferred amounts and supporting file
- Updates Revenue schedules, Evidence documents
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Prepare billing run Billing Operations Manager
Group invoices for the period and check service dates.
- Group invoices for the period and check service dates
- Updates Billing runs, Invoices, Invoice lines
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Validate billing run Billing Operations Manager
Advance Draft to Validated and retain result.
- Advance Draft to Validated and retain result
- Updates Billing runs, Operation receipts
ApprovalA person approves before the work moves on. -
Post billing run Billing Operations Manager
Advance Validated to Posted and retain result.
- Advance Validated to Posted and retain result
- Updates Billing runs, Operation receipts
Who does what
Roles and permissions- Admin
- Maintains reference records; Revenue Accountant owns schedules; Billing Operations Manager owns billing; Collections Specialist follows receipts; FP&A Analyst prepares plans; Finance Approver records human decisions.
Set up Revenue Recognition your way.
Start free, then use Proto to change fields, steps and approvals before your team goes live.