This post is part of a 5 part series titled SaaS Guide to Invoicing in QuickBooks Online. Deferred revenue in a nutshell Deferred revenue is an important topic for a SaaS subscription company. While it’s not the most exciting, it’s important because you’ll want to make sure you are reporting your company’s revenue correctly. The concept […]
About Rob Farmer
Rob is the CEO and co-founder of ProRata, a web-based financial application that helps companies simplify and automate revenue recognition.
Entries by Rob Farmer
This post is part of a 5 part series titled SaaS Guide to Invoicing in QuickBooks Online. Creating recurring invoices Recurring invoices in QuickBooks Online are a great way to manage renewals. By setting up a recurring invoice you won’t have to remember when to create a renewal invoice. It’s also a great way to bill […]
This post is part of a 5 part series titled SaaS Guide to Invoicing in QuickBooks Online. Classes and locations are options within QuickBooks Online that allow you to tag transactions such as invoices with additional data. To enable classes and/or locations go to Gear > Company settings > Categories Classes Classes can either be assigned […]
This post is part of a 5 part series titled SaaS Guide to Invoicing in QuickBooks Online. QuickBooks Online lets you create groups of products and services called bundles. Bundles are made up of one or more products and services. Bundling products is a great way to define a commonly billed set of products and services. […]
This post is part of a 5 part series titled SaaS Guide to Invoicing in QuickBooks Online. Developing an internal process One of the most important tasks is to develop an internal process for billing your clients. Even if you are a small company now, having a repeatable process that you can use to train others […]
In this 5 part series we will be going over some best practices and how-to’s for how SaaS companies can utilize QuickBooks Online‘s built-in features to manage your subscription billing process. Basic Invoicing in QuickBooks Online – We’ll go over the basics as well as how to enable certain features in QBO that are useful […]
Many startup founders we’ve spoken to at ProRata started out (or are currently) tracking revenue in a cash-basis. They soon realize the value in switching to an accrual-based revenue model.
In a recent study by the APQC found that finance workers spend 50% of their time doing transaction processing. That’s half of their day! Here are the results of the study and what executives would rather their finance staffs be doing.
If you are similar to a lot of software companies who need to track deferred revenue, you’ve probably at some point created a complex spreadsheet to aid in the process. Here are some signs that you have outgrown your Excel spreadsheet for tracking revenue recognition.
The FASB has released an accounting standards update (ASU 606) titled “Revenue from Contracts with Customers (Topic 606)” which outlines how software companies should recognize revenue. Here are the 5 steps.