Revenue recognition and reconciliation for subscription businesses

Automatically consolidate, normalize, and reconcile fragmented subscription revenue data in a single system that scales as your business grows.

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Overcome subscription complexity with AI-powered revenue recognition

Revenue recognition for subscription businesses seems like a straightforward task, however, it becomes much more complex when accounting for atypical discount structures, credits, refunds, cancellations, or multiple plan types, geos, or currencies. Manually working through thousands of transactions each month is unmanageable and inefficient, not to mention just hard to do. And the risk for non-compliant reporting or missed revenue is exponentially higher. AI-powered revenue recognition and reconciliation with Leapfin removes manual processes and delivers complete, fully auditable revenue data in real-time.

Automatically consolidated and prepared revenue data

Leapfin automatically aggregates and normalizes revenue data fragmented across multiple systems, so it’s prepared for reconciliation and reporting at any time.

Meet industry compliance standards and reduce audit risk

Leapfin makes it easy to build automated workflows to meet ASC 606 and IFRS standards – as well as your internal policies – to ensure compliance and auditability of your revenue data.

Adapt to policy changes as your business evolves

Retain full control over how your revenue data is managed and treated with flexible automation workflows that are created, updated, and documented with the help of a native AI agent.

Unification

Automatically ingest data from multiple sources

Instead of relying on spreadsheets to manually merge revenue data from multiple systems - like PSPs, billing systems, data warehouses, etc - data is automatically ingested into Leapfin in real-time.

Unify your data See integrations

Transformation

Raw data automatically prepared for accounting

Access a single, organized system ready for reconciliation, journal entry preparation and reporting, so you can avoid the painstaking work of formatting inconsistent data from multiple sources.

Transform your data

Control

Anytime access to your most valuable data

Empower your team with the ability to review, reconcile, post, and analyze your revenue data whenever you need to, without the burden of relying on other teams to fulfill data or report requests.

Control your data

Traceability

Track and link every type of revenue transaction

Gain full visibility into the entire order-to-cash process with details on every type of transaction, from every source of data, in one system, ready for internal review and even auditors.

Trace your data

Exploration

Streamline revenue reconciliation and reporting

Drill into all of the details of your revenue transactions, and the links between them, with the help of the connected accounting map, standard reporting, and Luca’s AI-powered data exploration.

Explore your data

Delivery

Share reliable revenue data across your business

Revenue reporting is faster and easier than ever when all of your disparate transaction details are consolidated into a single system and transformed into clean, reliable data ready to be shared.

Deliver your data

What are the benefits of automating revenue recognition for subscription businesses?

Manual processes increase the risk of errors, inconsistencies, and create organization inefficiencies. As subscription companies grow, there are more factors to consider – more systems, high volume of transactions, changing business model, new products and pricing – that increase complexity of revenue recognition and reconciliation. Accounting automation software – like Leapfin – helps overcome these challenges so Finance and Accounting teams can account for and report on subscription revenue at scale without significantly increasing headcount.

How can Finance teams prepare for subscription pricing changes?

Finance and Accounting teams can adapt to subscription pricing changes by implementing flexible systems and processes that can be easily adjusted to account for changes, but also adhere to critical business and compliance policies. Leapfin empowers you with the ability to automate the preparation of subscription revenue for easy revenue reconciliation and recognition regardless of how simple or complex your pricing model is. Leapfin’s native AI agent, Luca, enables your team to adapt to changes quickly, detect and resolve anomalies, and easily report on revenue in real-time.

Does Leapfin support compliance standards like ASC 606, GAAP, SOX, IFRS 15?

Yes, Leapfin supports ASC 606, GAAP, SOX, and IFRS 15 compliance. Leapfin customers have full control over how revenue data is accounted for by using automated workflows that are validated and fully documented for auditability. Workflows can be easily updated to meet evolving industry standards, as well as internal policies.

Can automation help me with revenue recognition for usage-based billing subscriptions?

Yes, automation makes rev rec for usage based billing subscriptions substantially easier. Consolidating fragmented revenue data into a single system like Leapfin enables you to normalize and enrich the data and take advantage of automation workflows so your team does not have the manual burden of managing the volume and complexity of transactions generated with usage-based billing.

How do I automatically consolidate subscription transaction details from multiple sources?

Leapfin is purpose-built for Accounting and Finance teams to consolidate all revenue transaction data in a single system – regardless of where the data is originally sourced. It doesn’t matter if you’re using Stripe, Airwallex, Metronome, Apple, Google, or any other system, data can be ingested and normalized. Additionally, Leapfin is more than a consolidated database of revenue data, it is accounting automation that helps with reconciliation, revenue recognition, reporting, and the creation of journal entries and a revenue subleger for your GL.