For customers who have a service or contract aspect to their business, it can be difficult to manage the income deferral aspect within the nominal ledger, often there can be hundreds of active contracts with varying frequencies of billing and different analysis requirements. Lakeview LM’s deferred income module allows you to generate deferral records at the point of invoice posting, automatically taking the initial value to deferred revenue and journaling out the revenue as per your system setup.
Credit notes can be back dated to reference their original contract start date and a roll-up of the value can be posted into the current period, avoiding the need to manually calculate and apportion the value. A full audit trail provides you with the detail needed to analyse the postings made and trace back any issues that may arise.
To register for the Deferred Revenue webinar please click here