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10-Minute Quickstart Guide

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10-Minute Quickstart Guide

Quick Summary: In this guide, you will configure your legal entity, upload a customer Master Services Agreement (MSA) or order form, review AI-extracted Performance Obligations (POBs), and generate your first ASC 606 revenue waterfall schedule in under 10 minutes.

  1. Navigate to your GAAPx Dashboard.
  2. In the top-right header, select your active Legal Entity (e.g., Acme Corp US).
  3. Under Admin > Company Information, confirm your functional currency (e.g. USD) and fiscal year end date.

Step 2: Upload a Customer Contract​

  1. Navigate to Contracts > Ingestion.
  2. Click Upload Contract or drag-and-drop a customer agreement (PDF, DOCX, or Scanned Image).
  3. GAAPx AI will automatically parse the document and extract:
    • Customer Name & Legal Entity
    • Effective Date & Term (Start / End Dates)
    • Total Transaction Price ($)
    • Contract Line Items (Platform Subscription, Implementation, Support, Usage Credits)

Step 3: Review Performance Obligations (POBs)​

  1. Open the extracted contract detail view.
  2. Verify that each line item is mapped to the correct ASC 606 treatment:
    • SaaS Subscription: Distinct POB recognized Over Time (Daily / Monthly ratable).
    • Professional Services: Distinct POB recognized Point in Time or upon milestone sign-off.
    • Prepaid Usage: Recognized upon consumption.
  3. Review the Relative SSP Allocation computed by GAAPx. If discounts were provided in the contract, GAAPx automatically prorates the discount across eligible POBs.
  4. Click Approve & Activate Contract.

Step 4: View the ASC 606 Revenue Waterfall​

  1. Navigate to Reporting > Revenue Waterfall.
  2. Select your fiscal year (e.g. 2026) and view the monthly amortization matrix:
    • Recognized Revenue: Total earned revenue per month.
    • Deferred Revenue (Contract Liability): Unearned billings awaiting recognition.
    • Unbilled Receivables (Contract Asset): Recognized revenue exceeding billed amounts.
  3. Click Export to download the schedule as an Excel (.xlsx) or audit-ready PDF package.

Next Steps​

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