| Availability |
Odoo Online
Odoo.sh
On Premise
|
| Odoo Apps Dependencies |
•
Invoicing (account)
• Discuss (mail) |
| Lines of code | 1311 |
| Technical Name |
us_asc_606_revenue_recognition_engine |
| License | OPL-1 |
| Website | https://pokutsoft.com |
| Versions | 18.0 19.0 |
| Availability |
Odoo Online
Odoo.sh
On Premise
|
| Odoo Apps Dependencies |
•
Invoicing (account)
• Discuss (mail) |
| Lines of code | 1311 |
| Technical Name |
us_asc_606_revenue_recognition_engine |
| License | OPL-1 |
| Website | https://pokutsoft.com |
| Versions | 18.0 19.0 |
US ASC 606 Revenue Recognition
ASC 606 five-step revenue recognition: SSP allocation, performance obligations, schedules & journals (US GAAP)
ASC 606 five-step revenue recognition: SSP allocation, performance obligations, schedules & journals (US GAAP)
Key Features
Revenue contracts with multiple performance obligations
Revenue contracts with multiple performance obligations.
Relative-SSP allocation engine (exact-sum, last line absorbs
Relative-SSP allocation engine (exact-sum, last line absorbs the remainder).
Per-POB revenue schedules
over-time (straight-line, day-accurate partial- period proration of the first and last month) or point-in-time.
Monthly recognition runs that turn due schedule lines
Monthly recognition runs that turn due schedule lines into balanced journal entry proposals (debit deferred revenue / contract liability, credit income).
Cumulative catch-up on contract modification
change an allocation and the next open period absorbs the catch-up so cumulative revenue stays correct.
Deferred-revenue (contract-liability) rollforward
opening + additions - recognised = closing, per contract and in total, for any period.
Scheduled monthly cron that posts due recognition; failures
Scheduled monthly cron that posts due recognition; failures are recorded and notified per contract, never aborting the whole run.
Screenshots
Revenue Contracts
Performance Obligations
Recognition Runs
Revenue Schedule
Why Choose This Module
The ASC 606 five steps 1. Identify the contract with the customer (a revenue contract record). 2. Identify the performance obligations (POBs) - the distinct goods or services promised, each with its own standalone selling price (SSP). 3. Determine the transaction price for the whole contract. 4. Allocate the transaction price to each POB using the relative-SSP method, with cumulative-target rounding so the allocated amounts sum exactly to the transaction price (no rounding leakage). 5. Recognise revenue as (or when) each POB is satisfied: ratably / straight-line over a service period, or at a point in time.
Specifications
- Compatible: Odoo 18.0 / 19.0
- License: OPL-1
- Languages: 35+
- Author: Pokutsoft
- Dependencies: account
- Support: support@pokutsoft.com
Odoo Proprietary License v1.0 This software and associated files (the "Software") may only be used (executed, modified, executed after modifications) if you have purchased a valid license from the authors, typically via Odoo Apps, or if you have received a written agreement from the authors of the Software (see the COPYRIGHT file). You may develop Odoo modules that use the Software as a library (typically by depending on it, importing it and using its resources), but without copying any source code or material from the Software. You may distribute those modules under the license of your choice, provided that this license is compatible with the terms of the Odoo Proprietary License (For example: LGPL, MIT, or proprietary licenses similar to this one). It is forbidden to publish, distribute, sublicense, or sell copies of the Software or modified copies of the Software. The above copyright notice and this permission notice must be included in all copies or substantial portions of the Software. THE SOFTWARE IS PROVIDED "AS IS", WITHOUT WARRANTY OF ANY KIND, EXPRESS OR IMPLIED, INCLUDING BUT NOT LIMITED TO THE WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE AND NONINFRINGEMENT. IN NO EVENT SHALL THE AUTHORS OR COPYRIGHT HOLDERS BE LIABLE FOR ANY CLAIM, DAMAGES OR OTHER LIABILITY, WHETHER IN AN ACTION OF CONTRACT, TORT OR OTHERWISE, ARISING FROM, OUT OF OR IN CONNECTION WITH THE SOFTWARE OR THE USE OR OTHER DEALINGS IN THE SOFTWARE.
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