Contract Revenue Management for Sage MAS 500 provides for defining, managing and monitoring a companies revenue cycle when it is customer agreement based. This could be a form of agreement whereby a service or subscription is delivered over time, and to which deferred revenue recognition is tied. The billing for the product is separate from the revenue schedule, and is based on user defined installment cycles and can include different amounts at different dates.
It is possible establish any number of contracts for a customer, with any number of products - each with possibly different revenue recognition schedules. All products on a Contract will be billed according the Contract Billing Schedule defined, and credits can be issued for a Contract when adjustments are necessary. Business Insights Reports and Inquiries provide needed visibility to revenue both earned and unearned, aiding and ensuring your companies compliance with Revenue Recognition and Reporting requirements.
Maintain Billing Schedule
Set up a Billing Schedule for a Contract with anticipated Dates and Amounts to be billed. Issue Credits when Adjustments are necessary.
Maintain Revenue Schedules
Deferred Revenue Schedules can be established very easily for each Product on a Contract. Amounts can be prorated by Period or Days in a Period, and discrepancies adjusted for automatically.
Business Insights Reports & Inquiries
View both Earned and Unearned Revenue and Billed and Unbilled Receivables using Insights Explorer, Analyzer and Reports
GL, AR, SO, IM, SLX Integration
Posting to GL and the creation of AR invoice and credit memos is an automated process. Create Contracts from Sales Orders and when SO's created from SalesLogix.
Use Quotes and Master Contracts
A Contract Quote can be created before converting it to a real Contract, and a Contract can be established as a Master.
Track when Contracts are up for renewal and have new Contracts created. Also Copy a Contract anytime.
Both Inventory and Non-Inventory Item types are supported, leveraging the MAS 500 Pricing tables.
Integrated Credit Card and Tax Services
If your requirements include Tax or Credit Card processing, both are supported when installed.
Industries: Non-Industry Specific
Business Needs: Contact Management, Contract Management