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AcctTwo Blog

The Subscription Model is Better for You as a Customer and for Your Business

At a certain point every business has to upgrade its accounting software. Solutions like QuickBooks may be adequate to start, but not once businesses begin to grow and diversify. Committing to an upgrade is an important step for future success. The question is what kind of upgrade to pursue.

In the new book “Subscribed: Why the Subscription Model Will Be Your Company’s Future—and What to Do About It,” author Tien Tzuo argues that services are becoming more important than products. Most of us already rely on services like Netflix or Amazon Prime, and the idea of paying for access rather than ownership will soon become standard.

Topics: SaaS Software as a service Subscription-Based Revenue Subscription Billing

SaaS Revenue Recognition Solution Complies with New ASC 606 and FASB

ASC 606 and FASB Accounting Rules Are Complicated. Learn how a SaaS Revenue Recognition Solution Helps

For many companies, the ASC 606 and FASB revenue reporting requirements went into effect on December 15, 2017. That date was in the minds of many accountants because it represents a radical new way of doing things.

The deadline for adoption was pushed back because it was too difficult for companies to adhere to the new revenue recognition standard. The transition from one set of rules to another was proving to be so problematic for enterprises of all sizes without the right revenue recognition software.

Topics: Software Industry SaaS FASB Revenue Recognition Subscription-Based Revenue Regulations

Should The Subscription Model Be The Future for CPA Firms?

Does your CPA firm charge clients under a time-and-materials type of contract? If the answer is yes, then the following scenarios will probably sound familiar to you.

Topics: Subscription-Based Revenue Subscription Billing CPA

The Subscription Economy and the New Revenue Recognition SaaS Model

The rise of subscription-based companies and revenue recognition SaaS software solutions

I used to buy movies and music. I still have my media shelves. I’m not prepared to completely let go of my CDs and DVDs yet, but now I subscribe to Hulu and have unlimited access to my favorite TV shows and movies. And for my music, I stream it on Spotify.

A young lady that I know is working on her MBA at the University of Texas at Austin. Soon after moving into her new apartment she sold her car to lower her expenses.

Topics: Informational Revenue Recognition Subscription-Based Revenue Subscription Billing

Are You Ready for ASC 606 and IFRS 15?

Every subscription-based business and services firm should be aware of ASC 606 (FASB ASU 2014-09) and IFRS 15, which substantially affect how revenue is recognized.

As revenue recognition rules are becoming the new revenue recognition standard across all industries, we find that the changes will affect different industries in different ways. This report by independent research firm Blue Hill Research explains the impact of the changes and describes Intacct's first-to-market Contacts and Revenue Management solution for organizations seeking to understand how best to manage performance obligations and event-based revenue.

Topics: FASB Revenue Recognition Subscription-Based Revenue

What does CFO.com Recommend about the New Rev Rec Standards? Plan Ahead.

Two EY Consultants Give Advice on How to Prepare for the New FASB Rev Rec Changes

In an article published on CFO.com last week, John McGraw and Jeff Johnson, both with EY, give fair warning to IT departments at organizations that will be impacted by the new FASB and IASB revenue recognition standards. The crux of their advice is that most organizations aren't prepared, and that one key element of getting prepared is to evaluate what software solutions will automate the process and incorporate the regulatory changes.

Topics: ERP FASB Revenue Recognition Subscription-Based Revenue

SaaS Benchmarks – Security and Performance Costs Drive Up Cost of Revenue

From Intacct's View from the Cloud Blog:
We've invited Lauren Kelley, CEO and founder of OPEXEngine, to write a series of guest posts to the Intacct blog sharing some of her insights around benchmarks for software and SaaS companies. We hope you enjoy the series, the first post is below.

Topics: Blog accounting software View from the Cloud Intacct Software Industry SaaS Security and Performance Costs OPEXEngine Subscription-Based Revenue Software and Technology Industry Best Practices Awareness