How to set journals to IFRS or GAAP rules for backdated revenue

How to set your journals to IFRS or GAAP rules so backdated revenue is recognized at the time of invoice rather than in closed months.

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To understand the options on revenue recognition for your journals, see IFRS / GAAP reporting versus revenue recognition.

For purposes of MRR (monthly recurring revenue) and Revenue Recognition, ScaleXP will recognize all revenue according to the associated service dates.

IFRS / GAAP option: If you wish to recognize back-dated revenue at the issue date, then select the IFRS / US GAAP report. This will show all revenue earned for a service period prior to the issue date as being recognized at the invoice issue date.

Revenue recognition option: If you wish to recognize back-dated revenue at the time service is provided, generating “negative” deferred revenue rather than using accrued revenue for this, select this opton.

To change your option, contact support@scalexp.com

To view revenue recognized in this way, go to the Customers tab (top bar) and create a new report. Select Type "IFRS."

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