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  1. Invoices - Ability to recognise future revenue

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    63 comments  ·  For small businesses » Business features  ·  Admin →
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    Not in pipeline  ·  AdminKelly Munro (Community Manager, Xero) responded

    Hi all, appreciate the interest and rationale in wanting to be able to recognise revenue of a sale at a date different to that of the invoice or payment date.

    While this maybe a function we look to explore in the long-term we want to be upfront that this is not something we'll be developing in the near term. In the meantime it may be best to look into connected apps that can solve for revenue recognition. We'll be sure to let you know if there's any change around this, here.

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    Rufus Grantham commented  · 

    We are a DaaS business and like others bill some customers monthly by Direct Debit which is fine, but for those that won't sign a mandate, they pay quarterly or annually in advance, however from a metric perspective it is important we accrue revenue in equal monthly installments. Currently have to book the invoice to a customer prepayment account on the balance sheet and then manually journal from there to revenue each month. The ability to set up the revenue recognition schedule at the point of issuing the invoice itself so avoiding the manual journals would make a huge difference

    Rufus Grantham supported this idea  ·