System and method for implementing a revenue recognition model

1. A method for implementing a revenue recognition model in an automated environment, comprising:

receiving rules associated with an entity, the rules received at a financial computing system via a communications network to which the financial computing system is coupled;

receiving information associated with a transaction at the financial computing system;

determining a user of the financial computing system to respond to one or more questions associated with the transaction;

communicating, over the communications network, the one or more questions to the user;

receiving a response to one or more of the questions from the user at the financial computing system;

communicating information associated with the transaction for a user to verify;

receiving verifications;

implementing, at the revenue recognition module of the financial computing system, one or more automated processes to determine whether revenue from the transaction is recognizable based on the received information associated with the transaction and the received response to one or more of the questions;

if revenue is recognizable, removing the transaction from an accounts receivable module of the financial computing system;

recognizing the revenue as current revenue if the entity has earned a payment for the transaction;

recognizing the revenue as deferred revenue if the entity has not earned the payment for the transaction; and

updating a general ledger of the financial computing system to reflect revenue of the transaction as a selected one of current revenue and deferred revenue.

2. The method of claim 1 , wherein updating a general ledger comprises updating at least one of a current revenue module and a deferred revenue module.

3. The method of claim 1 , further comprising, if revenue is recognizable:

determining a user to approve a recognition of the revenue;

communicating an approval request; and

receiving an approval response.

4. The method of claim 1 , wherein implementing one or more automated processes comprises:

implementing a first process to determine fees of the transaction;

implementing a second process to determine whether the entity can collect on the transaction; and

implementing a third process to determine whether discounts are applied to the transaction.

5. The method of claim 1 , further comprising receiving one or more verifications associated with the transaction, each verification associated with a user familiar with the transaction.

6. The method of claim 1 , further comprising:

determining a user in the entity to verify the information;

communicating, over the communications network, information associated with the transaction for a user to verify; and

receiving verifications.

7. The method of claim 1 , further comprising:

setting a timer in which to receive the response to each question within a time limit;

determining the response is not received within the time limit; and

presenting the question to the user.

8. The method of claim 1 , further comprising:

receiving verifications asynchronously; and

receiving a response to one or more questions asynchronously.

9. Software embodied in a computer readable medium for implementing a revenue recognition model in an automated environment, the software operable to:

receive rules, over a communications network, associated with an entity;

receive information associated with a transaction;

determine a user in the entity to respond to one or more questions associated with the transaction;

communicate, over the communications network, the one or more questions; and

receive a response to each question;

communicate information associated with the transaction for a user to verify;

receive verifications;

implement one or more automated processes to determine whether revenue from the transaction is recognizable;

if revenue is recognizable, remove the transaction from an accounts receivable module;

recognize the revenue as current revenue if the entity has earned a payment for the transaction;

recognize the revenue as deferred revenue if the entity has not earned the payment for the transaction; and

update a general ledger to reflect revenue of the transaction as a selected one of current revenue and deferred revenue.

10. The software of claim 9 , wherein updating a general ledger comprises updating at least one of a current revenue module and a deferred revenue module.

11. The software of claim 9 , the software further operable to, if revenue is recognizable:

determine a user to approve a recognition of the revenue;

communicate an approval request; and

receive an approval response.

12. The software of claim 9 , wherein implementing one or more automated processes comprises:

implementing a first process to determine fees of the transaction;

implementing a second process to determine whether the entity can collect on the transaction; and

implementing a third process to determine whether discounts are applied to the transaction.

13. The software of claim 9 , the software further operable to receive one or more verifications associated with the transaction, each verification associated with a user familiar with the transaction.

14. The software of claim 9 , the software further operable to:

determine a user in the entity to verify the information;

communicate, over the communications network, information associated with the transaction for a user to verify; and

receive verifications.

15. The software of claim 9 , the software further operable to:

set a timer in which to receive the response to each question within a time limit;

determine the response is not received within the time limit; and

present the question to the user.

16. The software of claim 9 , the software further operable to:

receive verifications asynchronously; and

receive a response to one or more questions asynchronously.

17. A system for implementing a revenue recognition model in an automated environment, comprising:

means for receiving rules, over a communications network, associated with an entity;

means for receiving information associated with a transaction;

means for determining a user in the entity to respond to one or more questions associated with the transaction;

means for communicating, over the communications network, the one or more questions; and

means for receiving a response to each question;

means for communicating information associated with the transaction for a user to verify;

means for receiving verifications;

means for implementing one or more automated processes to determine whether revenue from the transaction is recognizable;

means for removing the transaction from an accounts receivable module if revenue is recognizable;

means for recognizing the revenue as current revenue if the entity has earned a payment for the transaction;

means for recognizing the revenue as deferred revenue if the entity has not earned the payment for the transaction; and

means for updating a general ledger to reflect revenue of the transaction as a selected one of current revenue and deferred revenue.