Revenue Recognition Schedule (ASC 606)

This tool enables you to create a revenue recognition schedule aligned with ASC 606 standards. Simply input the total revenue, start and end dates, and your chosen recognition method to generate a detailed month-by-month breakdown of recognized and deferred revenue. Plus, the tool provides CSV downloads for both the schedule and corresponding journal entries (Debit Deferred Revenue, Credit Revenue) for each period, ensuring seamless record-keeping.

How to use:

• Enter revenue amount: Input the total contract revenue to be recognized over time.
• Select dates: Choose the start and end dates for the revenue recognition period.
• Choose a method:
  
• Daily: Recognize revenue evenly each day.
• Monthly: Recognize revenue evenly each month (no proration of the first/last month).
• Monthly (first/last month prorated): Recognize revenue monthly, prorating the first and last months based on the exact days  in the service period.
• Generate schedule: Click "Generate schedule" to see a detailed monthly breakdown of recognized and deferred revenue.
• Download results: Download the schedule as a CSV file, along with a second CSV containing corresponding journal entries for your accounting records.