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# Chargebee RevRec Discussions

Chargebee RevRec is an automated, ASC 606 / IFRS 15 compliant revenue recognition solution that: - Eliminates manual processes and provides end-to-end automation of ASC 606 / IFRS 15’s five- step model to recognize revenue - Unburdens finance teams and creates more time to focus on value-added activities for their business - Equips businesses with accurate, reliable insights to make strategic decisions with business growth in mind Chargebee RevRec provides a revenue recognition rules functionality, which allows accounting teams to handle commission deferrals, set up stand-alone selling prices, and configure revenue rules to identify performance obligations. Accountants can manage sub-ledgers, access journal entries, view accounting analytics, handle bookings, track sales commission expenses, and update commission terms. Additionally, employees can set up multi-currencies, monitor budgets, generate customized commission reports, and share sales reports in multiple formats, such as PDF, Excel, CSV, HTML, and plain text. Chargebee RevRec provides an application programming interface (API), which facilitates integration with several third-party applications, such as Stripe, HubSpot, Salesforce, and QuickBooks.

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