Accounting in a recurring revenue world
Closing your books at the end of every month is standard procedure for all businesses.
But for a subscription business, this task can be exponentially more complex.
It’s the recurring revenue nature of a subscription business and recognizing that revenue properly that makes manual management so onerous.
Keeping up with the reconciliation of your recurring revenue through your accounts receivable, cash or revenue ledgers can make even the savviest accountants and controllers reconsider their career paths.
Rapid growth means rapid everything...
As your SaaS or IoT business scales, you have more customers, more products, more pricing packages, increased reporting demands, you need visibility into results and you have increasingly complex revenue recognition requirements.
The only thing that isn’t growing is your capacity to get it all done accurately and on time! You wake up one morning and realize you’ve become a spreadsheet jockey.
See how Fusebill Integrates with QuickBooks
The solution is to automate and integrate
Automating your billing and revenue recognition is a major part of the solution - freeing up time and improving accuracy tenfold.
BUT for accounting purposes, you need to ensure your billing platform integrates with your accounting system so you don’t need to choose between being accurate and delivering timely results.
The right integration will automatically and seamlessly sync your high-volume transactions to your accounts receivable and cash ledgers. You’ll also want to ensure the data from your billing system is detailed enough so you can drill down into customer accounts without having to switch applications.
All this to say…there is a remedy for the spreadsheet madness. Let automation manage the monotony, so you can focus on more intrinsic areas of your business that need your time.