Revenue & Expense Deferrals for Accpac
Revenue and Expense Deferrals™ by Systronics is an application for Sage 300 ERP, which helps companies with the amortization of maintenance and service related contract revenue and expense amounts over the life of the contract. Other application areas include subscriptions, memberships, school fees and more.
Companies reap the benefit of compliance with the Public Company Accounting and Investor Protection Act of 2002 (also known as the Sarbanes-Oxley Act of 2002). Although not specifically covered under the Act, non-public entities are also finding that bankers, investors, and acquisition candidates are now conditioned to expect increased transparency and real-time disclosures, in effect placing a greater accounting and reporting burden on companies who are not legally obligated to comply with the Act. Revenue and Expense Deferrals helps companies meet these additional demands.
Revenue and Expense Deferrals can be configured to process transactions from any Sage 300 ERP module, including 3rd party SDK applications, as long as they post their transactions to G/L and support the Transaction Analysis and Optional Fields creator module.
- Helps with Sarbanes-Oxley Act of 2002 Compliant Implementations.
- Captures transactions earmarked for amortization in Sage Accpac modules and 3rd party applications. Processing logic is based on GL transactions only.
- Revenue and expense amounts are amortized and posted to designated accounts. Amortized amounts are “recognized” and posted back to GL upon maturity.
- Recognition is processed periodically, through a Day End Processing. Day End Reversal is allowed.
- Three deferral methods are supported: Straight-Line, Declining Balance, and Manual.
- Reports: Audit Log, Revenue Flash report, Deferred Revenue report, Day End Reversal Audit Log, Recognition Table report.
Watch it in action!