Gravity Software
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.
The 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," "Better financial statements lead to better decisions made by management, investors and others," says John Silvani, president and CEO of Gravity.
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," says 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 here.