Increase Compliance, Save Money and Time by Automating Project-Based Revenue Recognition

Project revenue accounting is challenging and one of the more subjective areas of accounting. Manually tracking revenue recognition fails to meet best practices of well-run businesses and negatively impacts work-in-process (WIP) by inadequately acknowledging completed milestones and revenue that can favorable affect your financial statements. Review the traditional challenges and approaches to recognizing and reporting revenue of long-term projects. Learn how your business can automate and optimize the calculation of project revenue recognition through a new software feature offered by Tenrox.

This white paper explores:

• Revenue recognition: What is it and how it impacts your business;
• Problems associated with revenue recognition and how to avoid them;
• Automating revenue recognition and how it increases accuracy and efficiency;
• Optimizing accounting processes using Tenrox’s Revenue Manager feature.