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Has anybody mapped ASC 606 Prepayment Interest Revenue Recognition Process in RMCS

edited Jan 28, 2021 4:34PM in Revenue Management


Need to upload Prepayment interest Contracts that reflect Revenue backlog and then enable recognition of Revenue


Am looking to map business process for loading a prepayment interest Contract in the system when a prepayment is processed and based on a future start of service date. The Requirement is to ensure the Revenue backlog information includes the Prepayment interest revenue, any changes to Service Start date will have an impact on the Interest Revenue, need to maintain the relationship between the customer contract and the Prepayment interest revenue accounting contracts.

Let me know if anybody has dealt with similar requirements before and can share how they had mapped this process.

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