Encompix | Revenue Recognition

Revenue Recognition

Companies who manufacture products with very long lead times may need the ability to recognize revenue based on the percentage of actual expenses incurred, rather than against shipment of the product(s) produced. The Encompix Revenue Recognition Reporting provides visibility by first calculating the percentage complete by comparing actual costs to budgeted costs. User defined thresholds are used to determine whether or not revenue can be recognized. If the percentage complete falls within the defined threshold, the allowable dollar value is automatically posted to the appropriate revenue account(s).