When you're running a service business or handling long-term contracts, recognizing revenue correctly isn't just about bookkeeping — it's about telling the real story of your business. The Revenue Recognition Schedule in JustPaid makes this easy. Let's walk through how it works, step by step.
Create or Select a Contract
Let's say you've signed a contract with a customer for $165,000. Now it's time to set it up:
Add Revenue Line Items
This is where things get interesting. You can break up the contract into line items, like:
Note
Accept the Contract
Once your line items are set, hit "Accept."
JustPaid automatically builds the entire revenue schedule for you — no manual calculations required. You'll now see a timeline that shows:
Track and Export
Use the Revenue Recognition Schedule to:
This is especially useful for:
SaaS Companies
Spread subscription revenue over the service period.
Agencies
Recognize project fees as work is delivered.
Service Providers
Handle retainers and setup fees correctly.
Real Example: Contract Breakdown
Let's say you structured a contract like this:
JustPaid will show you that:
~$1,600
~$4,100
~$4,300
$20,000/month
All neatly spread out, no guesswork involved.
Why This Matters
Accurate Revenue Reports
Keep your financial statements truthful and reliable.
GAAP and ASC 606 Compliance
Meet accounting standards without the headache.
Smoother Month-End Close
No more scrambling to calculate recognized revenue.
Stakeholder Confidence
Keep investors and your accountant happy with clean data.
You're all set!
Revenue recognition used to be a nightmare. But with JustPaid, it's built right into your workflow—so you can keep your contracts clean, your revenue realistic, and your finances totally on point.
