Very quickly in TrueRev you'll realize that there are various dates that are used in the platform, and it can get a little bit tricky. Here you'll learn about the different date types and what they mean.

First, let's identify the different dates!

Contract Dates

Effective Date: The date when this contract becomes valid.

Contract End Date: When the term of the contract is terminated. This is typically the effective date plus the initial term of the contract. Some contracts don't have an End Date, if that's the case check the 'no end date' box when filling out the contract term.

Go-Live Date: This is when you want TrueRev to start billing for this contract. Consider the situation where a contract has a 3 month free trial, to avoid inaccuracies in your revenue recognition you can set the Go-Live Date as the trigger for billing or revenue recognition.
Signature Date: The date which the contract was signed - this may or may not be the same as the effective date.

Auto-Renewal Date: The date when the contract will be automatically renewed.

Renewal Cancellation Date: The Renewal Cancellation Date is the date when the customer may begin to exercise their right to cancel a contract before the auto-renewal takes place.

Revenue Dates

Start Date: The date when you want to start recognizing revenue.

End Date: The date when you want to stop recognizing revenue. If you chose to recognize the revenue for this product through a period, the end date will be filled in automatically once you select the number of periods (days, months years).

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