Platform feature update completed on December 5th, 2024
Reusably
1️⃣ -📊 Deferred Revenue Report: Linked to the Balance Sheet
You asked for more clarity, and we delivered! You can now click on Deferred Revenue Liability in the Balance Sheet to open a detailed breakdown of how the total was calculated.
🤩 What’s New?
Interactive Report Access: Clicking on Deferred Revenue Liability takes you to a report showing the transactions that contribute to the total.
Filters for Deeper Insights: Narrow down by date, location, or category (e.g., Product Sales, Install Sales, Protection Plan Sales, Delivery Fees).
Consistent Totals: The Deferred Revenue Total at the top matches the balance sheet value for accuracy.
Detailed Columns: See order dates, numbers, locations, categories, and amounts for a complete understanding of your deferred revenue.
😆 Why You’ll Love It: Get transparency into deferred revenue with just one click, making it easier to analyze and track financial details.
2️⃣- 🔄 Updated Deferred Revenue Logic: Smarter Tracking
We’ve overhauled how deferred revenue is calculated to make it more accurate and intuitive.
🤩 What’s New?
Line-Item Tracking: Each appliance, installation fee, and protection plan is now tracked as Deferred Revenue until delivery.
Non-Line-Item Revenue: Fees like delivery charges are deferred until the last item in the order is delivered.
Partial Deliveries: Revenue is recognized only for delivered items, ensuring precise tracking.
Example:
Order: Two appliances ($5,000 each), protection plans ($200 each), installation ($300 each), and a $150 delivery fee.
Deferred Revenue: $11,150.
Appliance A delivered: Recognize $5,500.
Appliance B delivered: Recognize $5,500 and the $150 delivery fee.
😆 Why You’ll Love It: This update ensures revenue is accurately tracked and recognized, reflecting real-world deliveries and improving financial reporting.
!! The video below contained Deferred Revenue updates !!
3️⃣-📝 Renamed Financial Terms: Clearer and Standardized
We’ve updated some key financial terms across the platform to align with industry standards:
Internal Credit Line ➔ Customer Line of Credit
Customer Deposits ➔ Refundable Deposits
Store Credit ➔ Customer Credit
🤔 Why This Matters: These changes make financial terms easier to understand and align with common industry practices, improving clarity for all users.
4️⃣-📋 Sales by Product Report: Filter by Conditions
Get more accurate insights with a new Condition Filter in the Sales by Product report.
🤩 What’s New?
Filter by product condition, such as "Out of Box," "New," etc., directly from Settings.
Automatically exclude returns and replacement models from the report, ensuring only revenue-generating items are included.
😆 Why You’ll Love It: Easily analyze sales by condition while excluding non-revenue items for more meaningful insights into profitability.