Sales and Accounting – Understanding revenue recognition

Let’s be honest. Accounting and sales don’t really coexist well together. Salespeople consider themselves the “main players” and look at accounting as the “score keepers.” In contrast, accounting views themselves as “stewards” of the company financials and the sales...

Evaluation of the best online project management software

In the previous post, we discussed some tools that professional service firms should consider to stay competitive, including Google Apps, NetSuite, and OpenAir. Each of these tools brings different capabilities that can be exploited by service firms to deliver...

5 Tips for Coping with VSOE

In more traditional industries, the above equation captures the ease of revenue recognition. In the software industry, where the production process ends and delivery occurs is often less than straightforward. Software revenue recognition rules require that companies...