Billing and revenue recognition: requirements checklist
From the guide at bestfinancesoftware.com/guides/billing-revenue-recognition, published 29 October 2026. Use your browser's print command; the site header and footer are left off the page.
| Requirement | Vendor A | Vendor B | Vendor C |
|---|
| Must have |
|---|
| Every pricing model you sell or plan to sell within two years: flat, per seat, tiered, usage, prepaid credits, minimums. | | | |
| Mid-term changes (upgrades, downgrades, cancellations) with correct proration and credit notes. | | | |
| Revenue schedules by performance obligation, with a waterfall that ties to deferred revenue. | | | |
| Posting of invoices, payments and revenue to your ledger, with reconciliation reports. | | | |
| An audit trail of contract and price changes. | | | |
| Depends on you |
|---|
| Usage metering at your event volume, if you charge by usage. | | | |
| Quoting and CPQ, if sales negotiates contracts. | | | |
| Tax calculation and e-invoicing, if you sell across states or countries. | | | |
| Dunning and payment retries, if you bill cards at volume. | | | |
Questions to ask in the demo
- Bill our hardest contract: an upgrade on day 45, a usage overage and a cancellation with a credit.
- Show the revenue schedule for that contract and the journal entries it creates.
- What happens to an invoice when usage arrives after the period closes?
- How are price changes versioned, and can we see the history?
- Show deferred revenue tied to the ledger at month-end.
- What do we export, and in what format, if we leave?
Back to the guide, with the reasons behind each item and the vendors described from their own pages.