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Accurately Capture and Report Transaction Details
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| Think Enterprise's powerful accounting functionality uses generally
accepted accounting principles, T-accounts and reconciliation processes
to accurately track subscription-based deferred and earned revenue.
Easy-to-use screens and reports help you manage payments and credit orders
while sophisticated processes, complete with checks and balances,
summarize accounting information for your general ledger systems.
Think Enterprise innately manages the sensitive issue of revenue
recognition as well as other accounting issues such as: payments
and cash management, accounts receivable, and account reconciliation,
profit centers, and accounting periods.
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| Track Revenue the Right Way |
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With Think Enterprise, you can track revenue by product, group of
products, subscription, group of subscriptions, marketing source,
subscriber or group of subscribers for a specified time period. You
can also track revenue from physical or digital products, as well as
issue-based, time-based, and unit-based subscriptions. Accounting for
subscription-based products require different revenue recognition
methods than those for single purchases. Think Enterprise automatically
tracks the deferred and earned revenue associated with each order and
incrementally adjusts the recognized revenue over time as the products
are delivered. Additionally, the Think Enterprise reconciliation process
runs on regular intervals and updates the deferred and earned revenue amounts
for each accounting period.
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| Manage Different Currencies and Payment Types |
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| Think Enterprise captures and tracks all associated
payments. Think Enterprise supports multiple currencies, user-definable
payment types, payment plans, refunds, taxes, VAT, customer deposit accounts,
shipping and handling charges, payment transfers, cancels, reversals, and
payment thresholds. Through integrations with credit card gateway companies
like CyberSource, Think Enterprise supports the processing of credit cards
in a secure real-time environment.
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| Run Accounting Reports |
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| In addition to handling each individual payment, Think
Enterprise helps you manage your cash and payments using standard financial
reports including: Daily Credit Card Report, Daily Cash Reports, New Sales
Report, Refund Management Report, Refunds Processed Report, and Tax Liability
Reports. You can select from a set of standard financial and accounting reports,
customize existing reports, or you can create unique reports that fit your processes.
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| Accounts Receivable |
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| Accounts receivable functionality in Think Enterprise tracks
and ages credit orders placed on the system. You can also manage credit orders
within the system. For example, Think Enterprise allows orders to be placed and
processed before payment is received. Or you can configure the system to force
pre-payments for all or just specific orders.
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| Accounting Reconciliation, Profit Centers, and Accounting Periods |
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| You can use Profit Centers and accounting periods to organize
and report your revenue. Profit centers define accounting entities while accounting
periods segment the revenue into time periods - days, months, quarters, etc. After
you close an accounting period, you can run the reconciliation process that pulls
new orders, payments received, cancelled orders, refunds, and exchange gains and
losses for the period. Then the system creates a reconciliation summary that you
can use to prepare entries for a general ledger system.
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