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Revenue Recognition Questionnaire
1.
Company name
2.
Company contact
3.
Email address
4.
Do you execute contracts with your customers?
(These contracts can be written, verbal, or implied. They can take the form of purchase orders, service agreements, user agreements, T&Cs, etc.)
Yes
No
5.
Are there any customary industry practices that you follow but are not present in your contracts?
Yes
No
6.
Do your contracts include multiple performance obligations?
(example: multiple deliverables, products, services, etc.)?
Yes
No
7.
Do you enter into multiple contracts with the same customer at or near the same point in time.
(Sale of product and accompanying service agreement)
Yes
No
8.
Do your contracts any of the following - please mark all that apply:
Rights of return
Discounts
Warranties
Rebates
Incentives
Renewal options
Bill and hold arrangements
9.
Do you drop ship any products from suppliers?
Yes
No
10.
Do your contracts span more than 12 months?
Yes
No
11.
Do you have standard pricing for your products and services or unique to each customer?
Yes
No
12.
Does your sales team have discretion on adjusting pricing on a customer-by-customer basis?
Yes
No
13.
Do you provide any services or products free of charge under the contract?
Yes
No
14.
Do you have established pricing for all products and services even if they are typically bundled?
Yes
No
15.
How do you determine your pricing?
(example: rate per hour, rate per user, $ / product, etc.)
16.
If you bundle products and services how do you currently determine the customer's price?
17.
Do you ever discount one portion of a contract in exchange for extending a term?
Yes
No
18.
What accounting system(s) do you currently use for generating invoices and recording revenue?
19.
When do you recognize revenue?
(example: when invoiced, when shipped, when service provided)
20.
Do you pay sales commissions?
Yes
No
21.
Do you regularly incur any other costs directly associated with obtaining new customer contracts?
(example: legal, regulatory, etc.)
Yes
No
22.
Do you collect sales and use taxes on your revenue transactions?
Yes
No
23.
Do you currently have a written accounting policy for your revenue recognition?
Yes
No
