Quick Start Guide

Introduction

RevRec Premium unifies revenue recognition and accounts receivable (A/R) in a single platform. It provides a revenue/deferred revenue sub-ledger and an A/R sub-ledger, generates accounting journals, and delivers A/R-focused reports and analytics for accurate financial management.

Availability

• RevRec Premium is currently available for Chargebee Billing customers.
• Support for non-Chargebee Billing customers is on the roadmap.
• RevRec Premium is currently in early access. Contact us to join the Early Adopter Program.

Getting Started

Follow these steps to get up and running with RevRec Premium:

1. Choose Your Environment

Start in a Test/Sandbox environment to explore features with sample data. Move to Live/Production environment once you’re ready.

2. Invite Your Team

Add users from Finance, RevOps, and Accounting. Assign appropriate roles so your team can collaborate effectively from day one.

3. Connect Your Billing Data

Link RevRec Premium to your Chargebee Billing site. Invoices, credit notes, and payments will flow into the sub-ledgers automatically.

4. Set up GL Accounts & Mapping

Configure how A/R, cash/clearing, deferred revenue, revenue, FX, tax, and bad-debt activity map to your general ledger. Align your internal chart of accounts so journals are posted correctly.

5. Understanding Your Workspace

Use RevRec Premium to review Invoices, Credit Notes, Payments, and Journal Entries. This helps you track how transactions and lifecycle events move through accounting.

6. Review Key Reports

Navigate to Report Explorer for essential reports:

• A/R Aging Summary: Track open receivables by aging buckets.
• Monthly A/R Rollforward: Reconcile beginning and ending A/R balances.
• Trial Balance & Journal Entry Reports: Inspect balances and posted activity.

7. Validate Your Data

Before closing a period, go to Monthly Close > Data Validation. Resolve flagged issues such as unmapped accounts, imbalances, or other issues to ensure clean journal generation.

8. Generate Journals

Create journals for the period, either system-scheduled or on-demand. Monitor progress from the Post Journals page.

9. Post To Your Accounting System

Post journals directly to NetSuite or Sage Intacct (supported integrations). Alternatively, export journals for file-based upload.

10. Close The Period

After posting, close the accounting month under Monthly Close > Close Period. If adjustments are needed, you can re-open the period; RevRec Premium will handle journal cleanup so you can regenerate and repost.