4 Steps For Writing a Solid Commission Policy 

commission policy

4 Steps For Writing a Solid Commission Policy¬† Why Implement a Commission Policy?¬† Like a revenue policy, a commission policy is a living document that helps you enforce the consistent application of FASB guidelines (specifically ASC 606).¬† This document functions as an internal control that will dictate how your company accounts for expenses related to…

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Switching to Accrual Accounting? 5 Things to Consider

Cash to accrual accounting

Switching to Accrual Accounting? 5 Things to Consider When you‚Äôre a small SaaS business with very few customers, cash-based accounting makes sense. It allows you to keep things simple and gives you a more accurate overview of your cash position, which is pivotal for small businesses where every dollar counts. However, as you grow, a…

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Need Help Maintaining ASC-606 Compliance?

Spotlight on RevenueBooks: the SaaSOptics Workflow That Helps With ASC 606 Compliance In 2020, the Financial Accounting Standards Board (FASB) mandated the adoption of the ASC-606 accounting standards for private companies by December of 202o.¬† While many large companies already adhered to the standards, it sent many smaller, private companies into a tailspin trying to…

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3 Practical Ways to Adopt ASC 606 

3 Practical Ways to Adopt ASC 606¬† If it feels like you see the term ‚ÄúASC 606,‚ÄĚ everywhere you look, it‚Äôs probably because you do.¬† The clock is ticking for private companies as the FASB has mandated that 606 must be adopted by December 15, 2020, to maintain GAAP/IFRS-15 compliance. Depending on your business processes,…

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