December 3rd, 2024
Platform feature update completed on December 5th, 2024
Big News at Appliance.io! 🚀
1. 📊 Deferred Revenue Report Linked to Balance Sheet
We have improved the Deferred Revenue Report and provided additional access to it by integrating it directly into the balance sheet for faster access and greater efficiency. To offer more insight into how these numbers are calculated, we've added filters such as date, location and have broken it down by categories. Welcome to more streamlined financial reporting!
2. 🔄 Deferred Revenue Logic Update
We’ve revamped how deferred revenue is tracked to make it more accurate and insightful. Revenue is now deferred and recognized based on deliveries, line items (install, protection plan, and haul away). Non-line-item revenue (like delivery fees and trip charges) is deferred until the last item is delivered, ensuring a more precise calculation.
3. 📝 Renamed Financial Terms for Clarity
To align with standard financial terminology, we’ve updated key terms across the platform:
1. Internal Credit Line ➔ Customer Line of Credit
2. Customer Deposits ➔ Refundable Deposits
3. Store Credit ➔ Customer Credit
This update simplifies understanding and ensures better alignment with industry standards.
4. 📋 Sales by Product Report: Condition Filter Update
We’ve added a new filter to the Sales by Product report, allowing you to analyze sales by conditions like "Out of Box," "New," etc. Returns and replacement models are now excluded, ensuring the report focuses only on revenue-generating items for sharper profitability insights.
