Automated Revenue Recognition for Better Financial Reporting
Detroit, Michigan – April 26, 2017 – Gravity Software™ (Gravity) a robust mid-market accounting software written on the Dynamics 365 (aka Microsoft CRM) platform, today announced the release of its Revenue Recognition module. This module enables companies to appropriately recognize revenue and expenses in the period it is earned in accordance with new standards from the International Accounting Standards Board (IASB) and the Financial Accounting Standards Board (FASB).
“We are very pleased to provide our clients with a tool for more reliable and accurate financial statements that truly represent revenue and the associated costs that have been earned by companies” said John Silvani, President & CEO of Gravity. “Better financial statements lead to better decisions made by management, investors and others”
What type of businesses can be affected by the new Revenue Recognition rules? Companies that may engage in:
- Annual Contracts
- Products with Future Release Schedules
- Software-as-a-Service (SaaS)
- Training Classes Delivered in Future Periods.
Gravity’s Revenue Recognition module simplifies the process of calculating the correct revenue in each period. After the initial setup, clients will only need to post their invoices as they normally would, and once a month post the Revenue Recognition Entries.
“We have designed Revenue Recognition to handle the complex issues related to managing the recognition process, but have kept it easy to implement and use” stated Randall Ykema, Chief Technology Officer for Gravity.
As businesses grow, they need a strong financial system like Gravity. Gravity helps companies grow by unlocking information and reducing friction. Gravity provides features that growing companies need while being easy to use and easy to implement. And with real-time insights into all your lines of businesses, you can make better informed decisions.
If your business is outgrowing your current entry level accounting software, consider Gravity Software. Want to learn more about Gravity? Schedule a Demo at http://go-gravity.com/schedule-a-demo/ Gravity Software: the technology just works!
Gravity Software, LLC (Gravity) is an online cloud business management software company that provides financial business solutions exclusively written for smart businesses. Gravity’s robust solution is built on the Microsoft Dynamics CRM platform to give businesses the distinct advantage of having your Financials and CRM fully integrated on one platform. More than just accounting, Gravity provides businesses with the necessary tools and processes to help drive sales, improve customer service and increase productivity. Gravity Software - Simply Innovative Business Management. www.go-gravity.com. Follow us on Twitter, LinkedIn & Google+, Subscribe to our YouTube Channel, and Like us on Facebook.
Jaclyn Cauley, Marketing Manager, Gravity Software
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Gravity Software and the Gravity logo are trademarks of Gravity Software LLC. All other company and product names mentioned herein may be trademarks of their respective owners.