Revenue Recognition
Automate revenue recognition for SaaS and usage. No Spreadsheets!
Move your revenue recognition workflow off of Excel. Configure custom revenue recognition rules, generate audit-ready financial reports, and automate revenue accounting end-to-end.
Breeze through audits
Ditch manual calculations and sail through audits with automated journal entries in real time. Ensure accurate revenue reporting with clear audit trails.
Close books faster
Automate double-entry accrual accounting and speed up your month-end close. No more manual journal entries or reconciliations holding you back.
Stay compliant, always
Automate revenue recognition following the ASC 606/IFRS 15 5-step model and generate compliant audit-ready revenue reports without human error.
Automate revenue accounting
Zenskar automates the revenue side of accounting so you can free up resources and drive financial insights and decision-making.
Automatically create balanced journal entries for accrued & deferred revenue, accounts receivable, payment gateway expenses, etc. based on contract terms and milestones
View and export audit-ready accounting reports, including debit and credit journal entries, balance sheets, and P&L statements, with few clicks.
Maintain Zenskar as a single source of truth for your revenue data, and sync balanced journal entries to your ERP/general ledger in real time for error-free accounting.
Configure rules for your business
Subscription, minimum guarantee, volume pricing, or usage grants (prepaid and postpaid) – create flexible revenue recognition rules for any scenario.
Accurately recognize revenue using straight-line, exact days, fixed periods, milestones, usage-based, or end-of-term methods.
Automatically break down contracts into performance obligations and recognize revenue as obligations are satisfied over time.
Manually create performance obligations on demand outside of contract terms to cater to specific business needs.
Automate revenue schedules for revenue entries, deferred revenue entries, and unbilled revenue entries based on contract terms.
Recalculate revenue (future and past) seamlessly when terms change via amendments or adjustments, and ensure accurate revenue recognition and financial reporting.
Handle ASC 606/IFRS 15 compliance
Get a clear view of your revenue and financial performance.
Create financial reports, including balance sheets, P&L statements, and revenue reports, adhering to ASC 606/IFRS 15 five-step model.
Maintain separate ledgers for each legal entity/jurisdiction. Ensure transactions are recorded in local currency and per local regulations.
Adjust reporting period, and apply advanced filters to customize financial reports, – focus on data that matters most to you.
Dig deep into revenue, accounts receivable, payments, and journal entries at the customer and contract level to make better business decisions.
Free finance teams from manual grunt work
Allow the finance team to build and modify accounting rules, revenue recognition logic, and reports without relying on engineers.
Provide visibility into revenue data to key stakeholders, including product teams, C-suite, investors, and board members.
Link financial data to customers, products, and other business entities to support data-driven decisions on pricing, product features, target markets, etc.
Maintain full audit trails of all accounting entries. Review and correct past entries without impacting locked periods or altering historical reports.
Keep all stakeholders updated with relevant business metrics
Zenskar provides real-time actionable reporting on key revenue metrics for monthly flash reports, quarterly board packages, and senior management
10X
Faster Development
100K
Save in Implementing
FAQs
Frequently asked questions
Got more questions? Write to us at contact@zenskar.com
We are always happy to answer any questions :)
We are always happy to answer any questions :)
01
How is Zenskar’s revenue recognition different from others?
Within Zenskar, billing is decoupled from revenue recognition. It means revenue performance obligations are independent of invoiced items, enabling flexibility on automation rules and adjustable revenue schedules.
Simply provide your contract and usage data, and Zenskar automatically creates ASC 606/IFRS 15 compliant performance obligations, revenue schedules and posts journal entries to your revenue sub-ledger and ERP.
Simply provide your contract and usage data, and Zenskar automatically creates ASC 606/IFRS 15 compliant performance obligations, revenue schedules and posts journal entries to your revenue sub-ledger and ERP.
02
What financial reporting options are available with Zenskar's accounting module?
Zenskar provides audit-ready financial reports, including debit and credit journal entries, balance sheets, and P&L statements adhering to ASC 606/IFRS 15 standards.
03
Does Zenskar help us switch from cash to accrual accounting?
Yes, Zenskar's revenue recognition module follows ASC 606/IFRS 15 guidelines to accurately recognize revenue on an accrual basis as per the 5-step model and performance obligations defined in your contracts.
This allows you to record revenue as it is earned rather than when cash is received.
This allows you to record revenue as it is earned rather than when cash is received.
04
Does Zenskar include revenue subledgers?
Yes, Zenskar's accounting module includes a proper revenue subledger that houses detailed journal entries for deferred revenue, collections, credit notes, refunds, adjustments, sales tax payables, payment gateway fees, and more.
05
How can I integrate journal entries into our ERP system?
Zenskar can integrate and sync with popular accounting and ERP systems like QuickBooks, Xero, NetSuite, etc., and automatically publish journal entries directly into your ERP system/general ledger.
06
How long does it take to implement Zenskar?
Zenskar can integrate and sync with popular accounting and ERP systems like QuickBooks, Xero, NetSuite, etc., and automatically publish journal entries directly into your ERP system/general ledger.
