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“I’ll show you the Change Report in Tensoft Revenue Lens. This report gives you an overview of the activities in the deferred revenue account. For this period, we are looking at the month of May 2022. So, we’ll use the prior period end date and the current period end date.
You’ll get a summary consisting of the beginning balance, the new agreements added during the month, the revenue recognized, and the ending balance. You can use these links to go straight to the reports that give us this data.
So, let’s go to Revenue Recognized for this month. We can update the revenue dates and Exclude Void. You can click on Search to refresh it, and then click on Export to export this as an Excel document. The Excel sheet export provides you with a lot of data and you can also confirm the information here on this column for Revenue on Date. It shows that we have recognized $2,851 for May 2022. Let’s go back to confirm it and there it is.
This change report can also be exported to Excel. All our reports can be exported to Excel to give you more visibility and access to your data.
Now that you’ve seen how to view the revenue recognized, we’ll go over how to view the deferred revenue accounts beginning and end balances. We’re going to use the same report, but you can also just click here on ‘Cumulative Deferred Revenue’. This report is the deferred revenue report. You can choose the ‘As of date’ of the prior period in order to view the beginning balance. Export this and go to the Remaining Revenue on Compute Date. The amount is $128,877 and it’s the same amount here on the Change Report.
Using the same report, we will update the As of Date to the ending date of our current period, which is May 31st, 2022. Export this and here you have the ending balance of the current period as $147,526. You’ll see the same amount here.
One last item to review is to see the revenue agreements that were added during this period of time. So, this is the Revenue Agreement List. We’ll be using the current periods starting and end dates. Click on Search. You’ll see the items.
In addition to checking the revenue agreement list, which is the same as this link here, to see what documents were added, if you would like to export this list, you can go to the Deferred Revenue report and use those same dates. Export this and here we have the revenue allocated for that month. It is $21,500. We can confirm this in the Change Report.
So, there are a lot of ways to use the system to find the reports you’re looking for and the numbers you’re looking for.”
To learn more about Tensoft Revenue Lens and how it can help you, visit our website or contact us today.