What’s new in July 2023’s reports (v2023-07)

Here’s a summary of the new features and changes introduced in the July 2023 Revenue Recognition reports. If you are interested in any preview feature, please contact us to join our private preview.

• 12-hour reporting cadence: We've updated the Revenue Recognition to process every 12 hours, a significant improvement from the previous 24-hour cycle.
• Enhanced Support for Connect Platforms (preview): We're dedicated to better serving our Connect users.
  • Direct Charges & Invoices: Recognize revenue from application fees tied to direct charges and invoices. Check out examples on how it works.
  • Separate Charges & Transfers: Recognizing contra revenue for separate transfers. For illustrative examples, please refer to our resources.
• Discount on invoices (preview): Discounts associated with invoices will now be recorded as contra revenue.
• Group by event type: Stripe revenue recognition offers the option to group your debits and credits reports based on event type.
• Separate Booking for Stripe Fees (preview): Stripe fees can now be recorded distinctly as expenses.
• Tax amortization (preview): We’ve introduced the capability to amortize tax over the recognition start and end dates.
• Accuracy Enhancements:
  • When excluding a transaction, FxLoss is now excluded.
  • Support payment refund failure where the payment type is payment method.

What’s new in December 2022’s reports (v2022-12)

• Support destination charges: We support recognizing the revenue for the application fees on destination charges and invoices for connected platforms in preview. Check out examples on how it works.
• RevRec Controls tab: The Controls tab was added in the Dashboard as a private preview feature for merchants to easily control the amortization granularity and catch-up revenue.
• Global GL code mapping support: As a private preview feature, GL code mapping can be applied to the entire account for all products through global GL code mapping.
• Accuracy improvement for credit note: We now prorate the credit note with no line items or custom line items across the invoice line items for invoices marked uncollectible.
• Support payment reversal: Stripe revenue recognition now supports payment reversals (similar to a refund).
• Accuracy improvement for failed ACH payment: We now generate more accurate entries for failed ACH payments on invoices with the deferred on paid rule.

What’s new in July 2022’s reports (v2022-07)

• Group by metadata: Stripe revenue recognition now supports grouping CSV report downloads using your own custom metadata keys and values.
• Improve metered subscription audit experience: Populate the subscription item ID, invoice item ID, and invoice line item ID to all line item CSVs.
• Multi-currency support: Revenue recognition reports support the zero decimal and three decimal currency.
• Support excluding unbilled metered subscription item: We added a rule for excluding unbilled metered subscription item.
• Accuracy improvement for refund and dispute activities with data import: We now prorate the refund and dispute across split transactions imported through data import.

What’s new in March 2022’s reports (v2022-03)

• Support for post payment credit notes that credits customer credit balance and outside-of-Stripe balance. We now book CreditNote with CustomerBalance or ExternalCustomerBalance according to post payment credit notes. Please see the related example.
• Accuracy improvement for marking an invoice uncollectible with applied customer credit balance. For uncollectible invoices, we debit BadDebt for unpaid recognized revenue and debit Recoverables for paid deferred revenue. Please see the related example.
• Accuracy improvement for marking an invoice uncollectible with pre payment credit notes. For uncollectible invoices, we now credit (reduce) AccountsReceivable when an invoice with pre payment credit notes is marked uncollectible.
• Accuracy improvement for invoicing an unbilled invoice item. We now write off the revenue amount when the revenue amount of invoicing the unbilled invoice item differs from the original unbilled revenue amount. This often happens because there’s extra tax or discount on the invoice.

If any of the above applies to your past transactions, you may see corrections come through as prior period adjustments in the earliest open accounting period. If the accounting period control is set to automatic, then the earliest accounting period will be March 2022.

What’s new in March 2021’s reports (v2021-03)

• Support for credit note line items: Stripe revenue recognition now matches credit note line items with invoice line items when calculating revenue. For more details, please reference section on “Credit note with line items”.
• Support for uncollectible invoices that was paid and later disputed: Stripe revenue recognition now supports the edge case where an invoice was marked as uncollectible, paid and subsequently disputed. For more details, please reference section on “Uncollectible and disputed or refunded”.
• Support for timestamp corrections on standalone payments: In rare cases where the created time of a charge differs from that of the balance transaction, the charge’s created timestamp changes to the latter. A correction would be generated to represent this change.

If any of the above applies to your transactions, you may see corrections for your March 2021 reports.

What’s new in December 2020’s reports (v2020-12)

• Month to date reporting: Our reports can now be downloaded for the month to date for a preview of the present accounting period; month to date entries are represented by the new “open accounting period” report column. The revenue graphs now also support a daily view to provide insight into how new bookings affect your revenue and deferred revenue day over day.
• Multi-currency support: Revenue recognition reports will be available in your settlement currencies. If you are accepting payments in multiple presentment currencies, you will have one place to view your consolidated transaction information. Fluctuations between billed and paid amounts will be booked into the FxLoss account. For more details, see our methodology documentation or multi-currency examples.
• Waterfall report: Our downloadable waterfall report now aggregates recognized and deferred revenue across accounting months in a horizontal fashion to align with the waterfall presentation on the dashboard. Billing activity will also be grouped by when the activity occurs instead of by cohort date.
• Monthly summary table: We added “Future scheduled billings” to the monthly summary table to account for future revenue from unbilled invoice items and usage from metered billing.
• Audit workflow: Revenue recognition numbers on the summary and waterfall tables are now clickable to display the list of invoices and customers that contributed to the amount, allowing you to drill down on revenue numbers to self-audit directly through the dashboard.

What’s new in June 2020’s reports (v2020-06)

• Post-payment credit note: Our revenue recognition reports now include post-payment credit notes in addition to pre-payment credit notes.
• Transaction override metadata: We recently launched the transaction overrides where you can make manual corrections to your revenue recognition reports. The transaction override metadata is included in all downloaded reports

What’s new in May 2020’s reports (v2020-05)

• Metered billing: We now recognize revenue for usage-based billing in the month of the activity, even if it has not been invoiced yet. Because the service period for metered billing is in the past (the bill comes after the usage), revenue recognized from metered billing do not go through deferred revenue. Check out an example of how it works.
• Customer balances: We now include customer balances in the reports. Customer balances are credited in negative invoiced amounts and can be used to reduce the amount due on future invoices.
• Pre-payment credit notes: We now take into account pre-payment credit notes when calculating recognized and deferred revenue.
• Taxes: We now report tax liability, which is computed from the invoice’s tax rates.
• Discounts: We now take into account discounts when calculating recognized and deferred revenue.
• Corrections: corrected debit-credit journal entries help you make decisions on what to do with these corrections appropriately. Corrections may come from new features and correcting past invoices’ data.
• Pending cash: Asynchronous payment methods, such as ACH, may require cash to be in a pending state until the payment is confirmed. We now model this with a new pending cash account.