Does anyone know of any usfull software or sevices available to address 08-1 related rev rec.
What tools are available to automate revenue recognition (specifically 08-1 related issues)
Answers
No software that I know of. Your best solution is a staff member who knows Revenue Recognition for multi-element arrangements.
J.D. Floyd
Intaact has a demo of their rev rec tool out; I believe NetSuite has one as well. Note that these just let you put the schedule in and deals with the complexities of the different components. Actually figuring out how the recognition should work is completely manual, and to J.D's point, requires an expert to set up the rules and make sure sales conform.
I agree with J.D. and Keith that staff with Revenue
Intacct and NetSuite are both great options but you still have to have someone that understands the rules. If you are a smaller company you may have to hire a part time
Revenue Manager is great for companies seeking a solution that specifically addresses complex revenue recognition requirements (including ASC 606 & IFRS 15) not met by existing ERP systems. http://www.softrax.com/products