Remove Deferred Revenue Remove Payment Services Remove Point of Sale
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SaaS Financial Audits: 5 Tips for a SaaS Company's Financial Audit

ProfitWell

The following are some of the reasons why a SaaS financial audit is different: Recurring payments. Long-term payment structures. The monthly subscription revenue model, unfortunately, is not enough to ensure consistency of income in the long-term. Operating expenses. Financial reports are structured differently.

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Understanding The Revenue Recognition Principle

Subscription Flow

Accrual accounting states that revenue must be counted when it is earned, rather than when payment is received at your end. Cash is not equivalent to revenue. Revenue is earned only when a company fulfills its obligations toward its customer. Does Revenue Recognition Resonate with You?

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Xero vs QuickBooks Online: Which Accounting Software is Best for Your Business?

Stax

There are far too many to mention here, but some of the most beneficial integrations include: CRM systems Time tracking tools Reporting tools Ecommerce platforms Email marketing tools Point-of-sale systems Inventory management Debtor tracking. Customer support – Xero’s customer service is first class.