Revenue Recognition

Eliminate top line revenue swings

When service organizations lack proper revenue recognition, financial results can vary wildly from month-to-month. Ruddr's ASC 606-compliant revenue recognition functionality will smooth out the income statement.

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Key benefits of revenue recognition

Improve business predictability through proper recognition of earned revenue.

Enable predictable performance

Revenue is recognized only when the performance obligation is satisfied.

Provide reliable guidance

Communicate accurate financial projections to board members and other stakeholders.

Inform strategic investments

Make strategic investments and hires based on validated financial performance.

Compliance

ASC 606 and IFRS 15 Compliance

Revenue recognition is a generally accepted accounting principle (GAAP) that defines when and how a business’s revenue should be recognized. Accounting Standards Codification (ASC) 606 provides businesses with a universal framework for recognizing revenue.

Multiple recognition methods
Manual ledger for full control
Revenue recognition reporting

Configuration

Revenue attribution to project team members

In addition to recognizing revenue properly, Ruddr allows you to allocate that revenue to team members for granular financial reporting.

Percentage of billable hours
Percentage of time and materials revenue
Performance by project and team member

Reporting

Report on invoiced and recognized revenue

Keep track of fixed fee engagements by reporting on invoiced and uninvoiced revenue as well as recognized and unrecognized revenue.

Fixed fee billing milestones
Revenue recognition entries

Ruddr Onboarding Services

Need to be up and running quickly? With our Basic and Advanced onboarding options, you can go live on Ruddr within a few weeks. Our onboarding services include workspace configuration, integration setup, data migration, and training.

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