By now, the five-step revenue recognition model for recognizing revenue under ASC 606 is familiar to most accountants. The five steps of this model are: 1) Identify the contract with a customer; 2) Identify the performance obligation in the contract; 3) Determine the transaction price; 4) Allocate the transaction price; and, 5) Recognize revenue as […]
Revenue Management Module in Tensoft DemandOps
In Tensoft DemandOps, we have a revenue management module that includes currency conversion subscription, net revenue tracking options, revenue management API, etc. The following provides a brief overview of some of these features: Net Revenue Setup We realize that for accounting purposes sometimes you need to know what your actual revenue will be. So, we […]
Received Not invoiced (RNI) Report in Tensoft SemiOps
Received not invoiced (RNI) in Tensoft SemiOps represents Production Releases which have been fulfilled by vendors through the receipt screen, but the AP invoices for these goods/services have yet to be sent or acknowledged. When a receipt is created in SemiOps, inventory is debited, and the accrued purchase account is credited. When users eventually get […]
Overview of Bookings, Billings and Backlog Reporting
Here is a quick overview of bookings, billings and backlog in Tensoft SemiOps and DemandOps: Bookings Booking is an order that is entered in DemandOps and any update to it is the booking change. The bookings are based off of sales order entry date. If you go into any order and click on the information […]
Standard Inventory Costing for Fabless Semiconductor Companies
Since most of our high tech and fabless semiconductor customers use standard costing, we’ve had quite a bit of experience advising companies on how to set up standard costing, and thought it might be of interest to a wider audience as well. As a starting point here then, I’d like to spend a little time […]
SMB With “Big Data” Challenges? You’re Not Alone
If you’re an SMB (Small and Medium sized Business) with “big data” challenges, you’re probably like many of Tensoft’s customers – trying to find key and actionable information in a sea of data. You have sales information, customer information, inventory information, revenue information, details about customer contracts and future billings. But wait a minute, you’re […]
Get Ready for Spring 2024 Momentum
We are excited to announce Momentum, our first virtual user conference for the year 2024. Hosted exclusively for Tensoft customers, it will be held on Tuesday, May 14 and Wednesday, May 15 with the sessions distributed over 2 half-days. This is a fantastic opportunity to learn about the new features and best practices from the […]
3 Reasons to Implement ERP Before Production Ramps
Every technology startup is looking to grow, and to grow rapidly. The point where your production and sales are starting to ramp is exciting and challenging. Investing in your next level of ERP needs to be done – the only question is when to do it. Choosing the right ERP solution can have a huge […]
Tips & Tricks for Tensoft SemiOps Data Uploads
There are many benefits of using Tensoft SemiOps Data Uploads, especially when working with large volumes of transactions. The production module in Tensoft SemiOps allows you to create and manage production orders – along with managing your overall supply chain and production process. We call these production orders a “PR” (Production Release). Production orders can […]
How Does EDIFACT Work with Tensoft System
Tensoft has customers across Europe, Asia, Africa, and North America. To cater to our global customer base, we use both X12 and EDIFACT standard for transferring files from different ERP systems to Tensoft system. The major difference between X12 and EDIFACT is that X12 is widely used in United States and EDIFACT is most widely […]