The revenue accountant’s system for clean ASC 606
Build recognition schedules from contracts, manage deferred revenue, and close revenue with a waterfall that ties out - without spreadsheet gymnastics.
Revenue close, before and after Fintra
A revenue accountant lives in the gap between what was billed and what was earned. Managing that in spreadsheets - schedules per contract, deferred balances, modifications - is error-prone and hard to audit. Fintra builds the schedules from the contract and draws down deferred revenue automatically.
| Task | Without Fintra | With Fintra |
|---|---|---|
| Recognition schedules | Build one per contract in a spreadsheet | Generated from the contract terms |
| Deferred revenue | Reconcile the balance by hand | Drawn down automatically each period |
| Revenue waterfall | Assemble it manually for the board | Ties out from the schedules |
The Fintra surfaces you live in
- Revenue recognition: schedules built from contract terms on the chosen recognition pattern.
- Deferred revenue: the unearned balance tracked as a liability and released as you deliver.
- Revenue reporting: a recognized-versus-deferred waterfall that ties back to the contracts.
The work you own, and where it lives
| Responsibility | Where it lives in Fintra |
|---|---|
| ASC 606 recognition | Revenue recognition schedules |
| Deferred revenue | Deferred revenue tracked and drawn down |
| Revenue close and tie-out | Recognition posts as part of the close |
| Revenue reporting | Recognized-versus-deferred waterfall |
Audit-ready by construction
Because every recognition entry traces back to a contract and its schedule, the revenue close is defensible without assembling support after the fact. Auditors follow the trail from the number to the contract rather than to a spreadsheet nobody can reconstruct.
Frequently asked questions
What does a revenue accountant do in Fintra?
A revenue accountant sets up ASC 606 recognition schedules, manages deferred revenue, and closes revenue each period. Fintra builds the schedules from contract terms and draws down deferred revenue automatically, so the accountant reviews and ties out rather than maintaining a spreadsheet schedule per contract.
How does Fintra handle ASC 606?
It identifies the recognition pattern for each contract - ratably over time, at a point in time, or by milestone - and releases revenue on that pattern while holding the remainder as deferred revenue. Recognition posts as part of the close, and each entry traces back to the underlying contract for audit.
How is deferred revenue tracked?
Deferred revenue is carried as a liability representing what you have billed but not yet earned. As you deliver, the schedule moves amounts from deferred revenue into recognized revenue, drawing the balance down to zero over the contract term. The balance reconciles automatically rather than by hand.
Does the revenue close tie out to contracts?
Yes. Every recognition entry links to the contract and schedule that produced it, so the recognized-versus-deferred waterfall ties back to source. That makes the revenue close audit-ready by construction - auditors trace the number to the contract rather than to a spreadsheet that has to be rebuilt.
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Close revenue with a waterfall that ties out
Fintra builds ASC 606 schedules from contracts. Free to start, no card required.
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