How much time have you spent researching the nuances of the revenue recognition model for SaaS companies? If the answer is, way more than I would like to… then let’s have a conversation.
Accounting for deferred revenue can be tricky and burdensome if you do not have the right processes in place. At Lescault & Walderman, we have helped other software companies with SaaS revenue recognition and saved them countless hours of research and trial and error.
We follow all of the ASC 606 rules for the 5 Steps of Revenue Recognition:
1. Identify the contract with the customer.
2. Identify the performance obligations of the contract.
3. Determine the transaction price.
4. Allocate the transaction price.
5. Recognize revenue when or as the entity satisfies a performance obligation.
The only difference is… you don’t have to do any of the work yourself. We will handle the busy work and create a compliant process for you so you can focus on the revenue-generating operations of your business.