Every Upmind contract product's service period requires an associated invoice, even if the amount is 0. This ensures proper revenue recognition, acknowledging the service's activity, even when provided for free.

In this article, you'll find how to configure revenue recognition

1. Go to Settings
2. Order Options

3. Scroll to Misc > you’ll find Account Revenue Recognition

In Account Revenue Recognition, you have two options (see screenshot below):

• Overbilling cycle is recognized gradually over the duration of the billing cycle or subscription period
• Immediately is recognized all at once as soon as the product is delivered or the service is provided, regardless of the billing cycle

You can select them based on the nature of the business, the terms of contracts or sales agreements, and applicable accounting standards.

4. Then, click Hide

Different Recognition Methodologies for Each Product

This setting can be modified for individual products under Settings -> Product Catalogue.

0 Invoices and Why

We use 0 invoices whenever there is a period that needs to be bridged. This means that a service always has revenue associated, even if it is 0.

These invoices can be confusing for clients, and therefore we recommend ticking ‘Hide 0 Invoices for clients’