Articles on: Setup

Quick Data Features Tour

Once you have your data in REVLOCK you can learn how to quickly get to the data and all the revenue recognition related data and metrics available REVLOCK offers. If you have not loaded any data yet start by reading our quick start guide.

Navigating your data

Let's quickly walk through the data that you have loaded into REVLOCK. We are going to start with the customer and drill through to orders, invoices and the revenue arrangements.

Customer List

Select a customer and chose the “Sales Order” tab. Here you will to see all the Sales Orders related to this customer; we have selected Dome King.

Dome King has two sales orders. Click on the Sales Order Number to see the sales order items associated with this sales order

Select “Take Me to Revenue Arrangement” and select “Revenue Elements”

The Revenue Elements associated with this order are displayed. This shows the “re-allocation” of the revenue to be recognized in accordance with ASC 606.

The Contract Price will equal the Re-Allocated revenue to be recognized. By clicking on the “ ”
The details of the order and re-allocation rules will be displayed allowing the user to review and approve the details of the order.

Select the Revenue Plan to see the revenue recognized under ASC 606 during the term of the contract.

The “Commission Expense” section shows the commission expense under ASC 606

And the “Commission Plan” shows the commissions expensed by period.

Navigating Reports

Reports are accessed by selecting “Reports” on the Navigation Bar and then expanding to the type of report you want to get to.

Unearned Revenue Rollforward

The Unearned Revenue Rollforward can be accessed by selecting the Revenue Bar and selecting “Unearned Revenue Rollforward”.

The deferred revenue roll-forward schedule represents items invoiced where the performance obligation has not been satisfied.

For example, a twelve-month subscription agreement with the full amount invoiced on the order date creates an unearned revenue for the amount invoiced. Each month a portion is earned (the portion of the obligation satisfied). The deferred revenue is reduced by this amount and the same amount is recognized as income.

Performance obligations satisfied represents revenue earned but not yet invoiced. Where a performance obligation is satisfied but the customer has not been invoiced, an “unbilled receivable” is created. Here is an example of a deferred revenue roll-forward.

Journal Entries

From the information in RevLock, journal entries for Unearned Revenue and Commissions Expense are generated.

Select “Accounting” from the reports menu to access these reports.

Explore each of the report section to see standard reports including key metric reporting (under “Analytics”. Create your own reports and save them for future use in the “My Reports Section”. All reports are exportable in excel or pdf format and can be forward as needed.

Have fun, explore all of the power of REVLOCK automation. If you have any questions, access our on-line help.

REVLOCK provides training and support for advanced report generation.

Updated on: 07/12/2020

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