Deferred Revenue Accounting
MYOB Advanced automatically calculates deferred revenue accounts according to schedules that you establish. As time passes, deferred revenue is automatically recognized so your financial statements are automatically updated.
Deferred Revenue Administration
Create revenue recognition templates and assign them to line items on revenue transactions. Each template can specify start date, recognition method, percentage to recognize immediately, number of occurrences, and time within the period to generate transactions. Each template can be linked to accounts, sub-accounts, and inventory components.
Customized Deferral Schedules
Create deferred schedules based on deferred templates or create custom schedules to model complex requirements. Each schedule can be linked to specific transactions and line numbers on any income document.
Multiple Recognition Methods
Recognize revenue evenly across financial periods, prorate recognition by the number of days, or recognize revenue when payments are received. This level of flexibility allows you comply with all recognition requirements – even in situations where revenue collection is uncertain.
Integrated with other Financial Modules
Deferred templates can also be applied to transactions in the Accounts Payable module so you can amortize expenses. Deferred schedules can be linked to Inventory items so Sales Orders and Purchase Orders are processed according to the proper accounting rules.