Somewhat expensive solution to revenue recognition
Rating: 8 out of 10
IncentivizedUse Cases and Deployment Scope
We used Maxio to help us recognize revenue and track ARR. Maxio generated journal entries that made it easy to recognize revenue in QuickBooks Online, as well as easy reporting for understanding churn and concentration.
Pros
- Generates journal entries for SaaS revenue recognition
- Creates reports over time for SaaS metrics
- Sends invoices
Cons
- Reporting is a bit clunky to use and to export - more work is required to manipulate the data afterwards in Google Sheets
- Definitely a learning curve and a long onboarding process
Likelihood to Recommend
For us as a SaaS startup this simplified our revenue recognition and ensured we were GAAP compliant. It's possible for larger companies, this can be done by bookkeepers or more advanced QBO knowledge.