SAP Revenue Recognition

SAP Revenue Accounting and Reporting application now offers a simplified approach towards Revenue REcognition and Compliance providing enhanced management capabilities for generic or company-specific revenue recognition across various accounting principles. SAP Revenue Accounting and Reporting presents best in design and an integrated solution to cover current maintenance agreements and new requirements. It can also handle multiple accounting standards, offering additional flexibility to customers. It is now possible to automatically determine these multiple element arrangements from an accounting perspective based on a flexible rules framework. Additionally, accountants have the ability to change how revenues are allocated and recognized manually based on given customer arrangements. The application can deal with multiple accounting principles and their specifics in revenue recognition and presentation for one region or for each operational document. It also provides analytics for revenue accounting to address legal disclosures and management reporting.

The Foundation of the New Standards is the Five-Step Model

The New SAP Revenue Accounting and Reporting Solution

To support customers with this new standard, SAP has completed a multi-year development effort and has created SAP Revenue Accounting and Reporting to be ASC 606 and IFRS compliant from the ground. Starting with the first release in 2015, SAP has continued to add features to address requirements laid out in the new regulations. The most recent release, SAP RAR 1.2 is designed to specifically address requirements derived from the new accounting standards particularly in the areas of costs, contract management, and data transition across various accounting principles, as well. SAP RAR simplifies and automates even complex revenue accounting processes. SAP’s RAR Solution automates and simplifies revenue accounting for companies large and small and is the solution that was designed with the latest Revenue Recognition Standards in mind. SAP RAR 1.2 is the only solution to support multiple standards.

Choose SAP Revenue Recognition and Compliance for the better

What does all this mean? Better Outcomes for your business!

Simplified Revenue Recognition and Compliance for SAP Revenue Accounting and Reporting is now a fully automated process and simplifies the tasks for revenue accountants in following the new accounting guidelines.

Get in touch with us today. Together, we’ll give your business the boost it deserves.

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