ESSENTIAL JOB DUTIES AND RESPONSIBILITIES:
- Review complicated software deals for proper revenue recognition (POC, milestone, SaaS, perpetual/term).
- Collaborate with legal, sales, operations and finance to evaluate new licensing or subscription models.
- Understanding of software revenue recognition guidance, including the calculation and reallocation of Best Estimated Selling Price under ASC 606 guidelines.
- Evaluate impacts to revenue recognition and communicate key risks to management. Actively collaborate with Sales to ensure contracts are structured in a way to allow for easier evaluation of revenue recognition under ASC 606.
- Monitor industry/regulatory changes with respect to revenue recognition and develop new processes and policies to accommodate.
- Prepare journal entries to support monthly close activities.
- Actively participate in monthly and quarterly close activities.
- Prepare monthly deferred revenue reconciliation.
- Support certain other accounting areas that are directly impacted by revenue, such as accounts receivable, sales, commissions and royalties.
- Create detailed revenue schedules as needed for management, finance and reporting purposes.
- Assist professional services program managers with project management and milestone billing.
- Maintain and update internal control documentation for quote to cash and support audits of related controls.
- Support external auditors to ensure all information requested is provided in a timely and accurate manner.
- Track Bookings to recognition.
- Track cancelations to recognition.
- Collaborate with FP&A to produce revenue forecast related to closed bookings.
- Perform other duties and projects as assigned when needed to support the business.
- Prepare ad-hoc reporting requests from Controller and/or FP&A.
DESIRED MINIMUM QUALIFICATIONS:
- Bachelor's degree in accounting, finance, or equivalent experience
- Must have 5+ years of revenue recognition experience in a software or technology company that has both a complex and recurring revenue stream. Must have experience in particular with SAAS recurring revenue stream.
- NetSuite experience strongly preferred; practical working knowledge of the Advanced Revenue Module within NetSuite highly preferred.
- Experience working in public accounting a plus.
- Salesforce experience a plus.
- Demonstrated technical knowledge and thorough understanding of GAAP in the area of revenue recognition, preferably in a software and/or services environment.
- Demonstrated understanding of the new ASC 606 software revenue recognition standards highly preferred.