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• Journal Entries

  Creating Journal Entries REVLOCK supports both the deferral and recognition of revenue and the capitalization and amortization of costs of obtaining a contract (sales commissions). REVLOCK uses your revenue related accounts which are mapped to your GL system making it easy to post these entries (either manually or automatically). Let's use a really simple :D example to walk through how the entries are created in REVLOCK.Popular

• Journal Posting

  REVLOCK produces Journal Entries as a part of its computation and tracking of revenue and commissions. Learn more about the journal entries produced by REVLOCK. Journal Account Types REVLOCK uses the following journal account types Revenue Accounts Contra Revenue; Deduction from gross revenue for the purpose of revenue recognition over the period of performance period. Deferred Revenue; Liability on company's baPopular

• Generate Journal Entries

  This feature provides you with more flexibility in terms of how you would like to handle the accounting close process: instead of generating journal entries and closing an accounting period in a single step, you can do them separately: you can generate the journal entries first, review and analyze the results, and be able to make data changes and rerun the journal entries if required, before closing the accounting period. The ability to review journal entries before closing an accounting periodFew readers

• Journal Account Mapping

  Journal Account Mapping allows you to map the internal accounts used by REVLOCK to the actual account numbers you are using in your ledger package / accounting system. Mapping Accounts Once you have connected your accounting system you can use the account mapping feature to select the account you want to use from the list pulled from your accountiVery popular