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Accrual Manager: 606 Revenue Recognition

MindStream
PartnerPlace Solution

Solution Details

Accrual Manager: 606 Revenue Recognition is the Easy Button for deferred revenue contracts!

MindStream’s Accrual Manager: 606 Revenue Recognition is your comprehensive solution for managing ASC 606 Accruals for Contracts with Customers. This platform is meticulously crafted to transform your accrual calculation process.

Accrual Manager’s All-in-one interface for managing ASC 606-based accruals provides access to:

  • Contract details
  • Contract obligations
  • Contract invoices
  • Instant calculation and reporting – Accruals, Performance Obligations, Journals
  • Multi-currency
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Key Features

Revolutionize Your Management of Contracts with Customers

Step out of the manual world of Excel and into the simplicity of a refined, secure application built on OneStream’s proven technology.

 

With Accrual Manager: 606 Revenue Recognition, you will easily:

  • Manage customer contracts
  • Store and track performance obligations
  • Calculate and report:
    • Transaction price
    • Transaction price to performance obligations
    • Revenue
    • Contract Liabilities (Deferred Revenue)
    • Contract Assets
  • Generate journal entries for the general ledger

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Transformative Features of Accrual Manager:

  • Simple: With Accrual Manager, bid farewell to the complexities of manual calculations and multiple Excel documents. Accrual Manager is a system that provides easy storage and tracking of all contracts in one place and instant calculation and reporting of accruals.
  • Intuitive: Accrual Manager’s user-friendly interface makes for easy learning.
  • Seamless: The platform integrates with your sales and financial data, generating accurate journal entries and reports.
  • Secure: Built on the OneStream platform, Accrual Manager leverages the existing security model.
  • Auditable: Built-in auditing capabilities track updates and deletions to contract details ensuring complete visibility.
  • Extensible: Accrual Manager’s calculation framework is extended to include any organization-specific calculation requirements.

Step into a World of Simplified Accrual Management

Try Accrual Manager today! Experience efficiency, accuracy, and comprehensive management in a new era of streamlined contract accruals.

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