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Getting StartedAgentOS WorkUpdated March 13, 2026

Automate Revenue Recognition with ASC 606 / IFRS 15 — v1.0.86

Automate Revenue Recognition with ASC 606 / IFRS 15

Release v1.0.86 · Revenue Recognition & Management

Revenue recognition is one of the most technically demanding areas of financial reporting. The rules under ASC 606 and IFRS 15 require organisations to systematically identify performance obligations, allocate transaction prices, and recognise revenue only when — or as — obligations are satisfied. For any company with multi-element arrangements, subscriptions, or professional services, doing this manually is error-prone and time-consuming.

With v1.0.86, the platform handles all of this automatically.

What's Shipping

Full ASC 606 / IFRS 15 Compliance

The new Revenue Recognition module implements the complete five-step model required by both standards. Whether your organisation reports under US GAAP or IFRS, you configure the standard once per contract and the platform handles the rest — from allocation logic to journal entries to disclosure-ready schedules.

Performance Obligation Tracking

Contracts rarely contain a single promise. A SaaS deal might bundle a licence, onboarding services, and an annual support plan. Each of these is a distinct performance obligation with its own recognition timeline.

You can now define multiple performance obligations within a single contract, track their satisfaction status independently, and ensure revenue is recognised exactly when each obligation is fulfilled — not a period earlier or later.

Automated Transaction Price Allocation

Once performance obligations are defined, the platform allocates the contract's total transaction price across them based on standalone selling prices (SSPs). Variable consideration — discounts, rebates, refund liabilities — is factored in automatically. No spreadsheets required.

Point-in-Time and Over-Time Recognition

Different obligations recognise differently:

  • A product delivery recognises at a point in time — when control transfers.
  • A support subscription recognises over time — ratably across the contract period.
  • A milestone-based implementation recognises over time using an input or output method.

All three patterns are supported. You select the method per obligation and the schedule is generated accordingly.

Audit-Ready Revenue Schedules

Every recognition event is logged with full traceability — the obligation satisfied, the amount recognised, the deferred balance, and the journal entry reference. Schedules are exportable in PDF and CSV for auditor review and financial close packages.

Who This Is For

This feature is relevant to any organisation that:

  • Sells bundled products and services under a single contract.
  • Has subscription or term-based revenue streams.
  • Is subject to external audit and needs defensible revenue schedules.
  • Reports under ASC 606 (US GAAP) or IFRS 15.

Getting Started

  1. Configure Standalone Selling Prices in Settings → Revenue → Standalone Selling Prices.
  2. Create a contract in Finance → Revenue → Contracts.
  3. Add performance obligations and select a recognition method for each.
  4. Review the allocated transaction price and confirm.
  5. Access the Revenue Schedule tab — your schedule is ready.

Full documentation is available in the Revenue Recognition & Management guide.

Released in v1.0.86. For questions or feedback, contact your account team.