Revenue reporting & accounting handoff — found from sitemap — Orb

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Facts read from this source

• Asc606 recognition Report an error

  “Orb automatically calculates recognized revenue in a way that accords with ASC606 guidelines.”

• Convergence billed revenue Report an error

  “Orb guarantees that your recognized revenue always converges to your billed revenue over time.”

• Credit cost basis Report an error

  “Recognition for credits is always based on their cost basis, which represents the unit price at which they were purchased.”

• Credit expiration recognition Report an error

  “When a credit block expires, its remaining balance is recognized on the day following the stated expiration date, by default.”

• Allocations zero cost basis Report an error

  “Zero cost basis allocations: These represent free inclusions in a plan and do not generate revenue.”

• Fixed fee straight line Report an error

  “In order to calculate recognized revenue, Orb performs straight line recognition, recognizing revenue on a daily basis.”

• Tax excluded Report an error

  “revenue numbers always exclude tax and the payment status of an individual invoice is not factored into accounting treatment.”

• Accounting period locks Report an error

  “Accounting period locks allow you to control when and how revenue is recognized. Closing an accounting period ensures that there will be no subsequent changes to that period in any Orb Reports due to changes in billing activities.”

• Accounting periods monthly Report an error

  “Accounting periods in Orb are monthly.”

• Lock setup admin Report an error

  “Account Admins can lock and unlock accounting periods in Orb from the Reports tab in Settings, and update the fiscal year offset for Reports.”

• Invoice edit recognition Report an error

  “Invoice edits will be recognized during the line item service period if the accounting period is open. If the accounting period is closed, it will be recognized on the first day of the next open period.”

• Manual credit note recognition Report an error

  “the amount that is unrecognized from the original invoice is the amount on the credit note. The date range over which the revenue is recognized is taken from the service period of the original line item, and spread evenly across the service period, if the accounting period is open.”

• Deferred revenue definition Report an error

  “In Orb, your deferred revenue is the amount that has been invoiced (excluding tax) that has not yet been recognized.”

• Billed revenue report Report an error

  “The Billings report in Orb captures the total amount due from invoices for a given time period. Orb determines which billing period to record the transaction, using the invoice date.”

• Void negative billings Report an error

  “When an invoice is voided or a credit note is issued against an invoice, Orb reduces billings by recording negative revenue in the relevant period, in accordance with the posture of the accounting period lock at the time of the void action, or credit note issuance.”

• Min adjustment recognition Report an error

  “Minimum amounts are recognized on a daily basis (similar to fixed-fees). The outstanding minimum amount to be recognized is distributed evenly across all relevant line items on the impacted invoice.”

• Discount recognition Report an error

  “Percent-based discounts reduce the recognized amount of their underlying prices by the percent. No proration logic is necessary.”

• Straight line alternative Report an error

  “Orb provides this behavior by allowing you to combine an in-advance fixed-fee with $0 cost basis credits (an allocation).”

• Fiscal year offset Report an error

  “Account Admins can lock and unlock accounting periods in Orb from the Reports tab in Settings, and update the fiscal year offset for Reports.”

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