Deliverable
Revenue Recognition
Schedule and post revenue per contract terms, with deferred-revenue rollforward and ASC 606 support.
How HaiFi does this
The workflow, step by step.
Every step captured in the audit log. The AI's reasoning chain is stored with the entry — your team can audit what was decided, why, and where the AI was unsure.
- 1
Read the contract terms
Pull the contract from the receipt repository or shared drive. Identify the performance obligations, contract value, term length, and recognition pattern (ratable, milestone, usage-based).
- 2
Build the recognition schedule
Generate the monthly recognition schedule for the contract's life. Ratable contracts split evenly across the term; milestone contracts release on event; usage-based pull from the source system.
- 3
Reconcile to billings
Match recognized revenue to billed revenue from the AR subledger. Flag any contract where billing has outrun recognition (deferred) or recognition has outrun billing (unbilled).
- 4
Draft the monthly JE
Each month's recognition entry drafted: debit deferred revenue, credit recognized revenue. Class and location tags inherited from the contract.
- 5
Update the deferred revenue rollforward
Beginning balance + new deferrals - recognized = ending deferred revenue, tied to the GL. Schedule lives in the workpaper and refreshes each month.
- 6
Approve the batch and post
Reviewer approves the batch — by contract, by client, or globally — and entries post to the GL with full audit trail.
What you get
The deliverable, productized.
Monthly recognition entries posted to the GL, a deferred revenue rollforward tied to the balance sheet, and an Excel schedule per contract showing the full recognition timeline.
Without HaiFi vs. with
The time you get back.
Senior accountant opens each contract, builds a recognition schedule in Excel, ties it to the AR subledger by hand, drafts the monthly JE, updates the rollforward tab, and reviews variances. Hours per client per month — and it's the kind of work where a missed contract means a restatement.
Recognition schedules generated when contracts are added. Monthly JEs drafted automatically. Reviewer signs off the batch — typically in minutes per client.
Related deliverables
Expense Classification
Every transaction categorized with the right GL account, contact, and class — bank feed in, audit-ready entries out.
Balance Sheet Reconciliation
Tie out every balance sheet account each period with supporting workpapers and variance commentary.
Financial Statements
Polished P&L, balance sheet, and cash flow on demand — branded for your firm or client.
Deploy Revenue Recognition in your firm.
Talk to an RDA. Assess. Pilot. Scale. Ready to scale firm-wide in 90 days.