Below is a full transcription of the video above: “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 […]
Dashboards in Tensoft Revenue Lens
In Tensoft Revenue lens, we have a few different dashboards to give you a quick overview of your data: Revenue Dashboard: The revenue dashboard shows the revenue recognized each month. It also displays pie charts of your top customers, top rule types, and top selling items. New Agreements Dashboard: With the new agreements dashboard, you […]
How Tensoft Revenue Lens Supports the Five-Step Revenue Recognition Model
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 […]
How to Compute & Post Revenue in Tensoft Revenue Lens
Month end revenue recognition is straightforward with Revenue Lens. Your sales have been transformed into revenue agreements. Computing and recognizing revenue is fast and accurate. Tensoft Revenue Lens simplifies revenue recognition and reporting. It automates your revenue recognition process and makes it as easy as “Compute, Post, Report”. With the APIs, you can use any […]
How to Onboard Documents into Tensoft Revenue Lens
Adding Tensoft Revenue Lens to your financial systems requires two tasks. The first task is to set up our application. The second task is to bring your sales into Revenue Lens. The ideal is to capture the sales data where it occurs and to move that into Revenue Lens. Your sales may happen online, or […]
A Quick Overview of Tensoft Revenue Lens
Subscription companies, companies with deferred revenue, usually start by managing revenue in Excel. Revenue recognition in a spreadsheet makes sense when you are a small company because it’s a small data set, material, less revenue going through the system and fewer transactions. When your company starts growing revenue management gets complicated. Sometimes the challenge is […]
Revenue Recognition: Five-Step Model
We all know that the new revenue recognition standard’s rules are in effect for the public companies. So how do the Tensoft revenue recognition solution fits into this new model? Tensoft Revenue Lens, is equipped to handle the variable consideration and contract modifications through the ability to update transaction price of the contract when estimates […]
Semiconductor Industry Revenue and Variable Consideration
Semiconductor Industry Revenue The value chain in the Semiconductor Industry can have companies selling directly to end customers for their products, or through distribution and contract manufacturing channels to reach your end customer. When you are selling through an extended value chain the end price for the product sold may not be known at […]
Tensoft Revenue Lens in 2 Minutes
Tensoft Revenue Lens can help your company get rid of lack of visibility over your contract statuses, prepare your revenue reports for audit visits, and ditch the error-prone spreadsheets. With Tensoft Revenue Lens, your company can enjoy smoother processes, less errors, and better revenue reporting. For a quick overview of Tensoft Revenue Lens, we’ve created […]
ASC 606, Potential Impacts to Your Business Model: Part 3
The last in the series on the ‘Impact of ASC 606’ that a re-seller or a distributor business should be aware of with potential impacts to their business model is: “Modifications and Amendments to Contracts.” [The following is a partial transcription from the webcast, “Implementing ASC 606: Potential Changes to Distributor and Reseller Based Revenue […]