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If a CPQ/CRM system in use and if it's applicable to the revenue recognition configuration
What ERP is in use and what automation capabilities are available
What are the reporting levels and field mapping requirements within the ERP
Determining if there are any custom rev rec revenue recognition rules that are required outside the standard rules provided in LogiSense Billing
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Reports can be accessed in the AdminPortal Admin Portal (LogiSense Billing UIUser Interface), delivered to a transfer location that you specify (S3 bucket/SFTP), or directly accessed by API integration with your ERP.
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Within the LogiSense Billing application you can define how revenue is recognized for every service configured in the system using rev rec revenue recognition rules (detailed below). How revenue is recognized for one service can differ from another service based on the rule you define on each service.
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Revenue Recognition Rules
Rev Rev Revenue Recognition Rules are configured on custom through extended fields in the system and allow you to define how revenue should be recognized according to your needs. The custom extended field is configured on the product sold (service).
Standard rules required, plus any custom defined rules from prerequisite discussions, will be configured ahead of time before the report configurations are finalized.
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To determine the standalone selling price (SSP) the pricing configured in the LogiSense Billing Product catalog is used. Specifically, the pricing set the package frequency level. If a discount were to be applied to a service the SSP would still be calculated using the prices defined in the catalog, unless custom rev rec revenue recognition rules were defined or a reporting process was configured to exclude this.
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Deferred Revenue Report: displays any new deferred revenue based on sales orders/contracts within the fiscal month as well as any adjustments to deferred revenues related to recognition and or pricing/cancellation adjustments
Unbilled Accrued Revenue Report: any non-contractual accrued revenue such as revenue for usage will be summarized and outlined on this report
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All changes to pricing, contracts, service state and invoicing are all traceable and reportable for auditing purposes in the Audit Log found in the Operations menu. For example, our audit log can show who changed pricing on a contracted service and to what value from its initial state.
Event showing a service price being created with a value of $9.99
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Event showing the same service price being updated to $7.99
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