Creating a contract in TrueRev is a simple step by step process that is easy to follow and navigate. From picking an existing customer or creating a new one, to the contract profile and contract value to the revenue schedule. With TrueRev it's easy to jump from one step to another and get a preview of how the revenue schedule looks.

Learning how to set up your Revenue Recognition is part of setting up a contract. To learn how to set up a contract click here.

Setting up Revenue Recognition in TrueRev

When you're creating a contract in TrueRev, you'll notice at the top of the page all of the steps involved in the process. Each step is part of creating a contract and among these steps is a step called "Revenue" which is where you can set up your revenue recognition schedule.

The Revenue Manager step in creating a contract is then broken down further into two sub-steps; Revenue Action Center and Revenue Schedule.

The Revenue Action Center allows you to review the details of your revenue recognition schedule such as the amount, product, start date, end date, term and recognition method. In this page you can make adjustments to the start date and end date which are being populated from the data you input in the step prior to "Revenue" called "Contract Value."

Finally the section titled "Revenue Schedule" allows you to see the the revenue schedule for that contract. As simple as that - you've now set up a revenue schedule!

Did this answer your question?