Accurate revenue reporting is the backbone of financial decision-making. Without clear visibility into how revenue is earned, deferred, and recognized, finance teams struggle to ensure compliance with ASC 606 and IFRS 15, forecast revenue accurately, and make strategic business decisions. However, revenue data is often fragmented across different systems, making it difficult to get a comprehensive view. In this guide, we break down five essential revenue reports that every revenue accountant should know—along with the easiest way to generate them in real time.
Revenue Waterfall Report
A revenue waterfall report is a financial model that shows how revenue is recognized over time. While standard revenue reports show total revenue by period, waterfall reports map out a “waterfall” of revenue across reporting periods, providing a detailed view of how incremental changes resulting from sales, renewals, and churn impact revenue.
A revenue waterfall report looks like a financial model and typically includes the following information:
- Deferred revenue balances: Revenue yet to be recognized (the starting point for each period).
- Recognized revenue: Revenue recognized during a specific period based on contractual obligations.
- Forecast revenue by future period: Modern revenue recognition software such as RightRev can help you forecast revenue by future period with custom forecasting logic at the revenue contract or even performance obligation level.
Depending on the revenue recognition software you use, you may see additional information on waterfall reports. This may include a breakdown of data by contract, client, region, or product line and calculations like churn rates, average contract values, and revenue per user.

Waterfall reports are particularly useful for companies with subscription or contract-based revenue or any company with complex revenue cycles—such as SaaS, telecom, or professional services—where revenue isn’t always tied to a single, straightforward transaction. With waterfall reports, you can view revenue in a more layered and actionable way. A preview of the timing of revenue recognition enables you to forecast cash flows and revenue stability and make informed financial decisions.
Deferred Revenue Rollforward Report
A deferred revenue rollforward report shows how deferred revenue evolves from the beginning to the end of a reporting period by accounting for new deferrals, recognized revenue, and adjustments. Unlike revenue waterfall reports, which focus on showing how deferred revenue is incrementally recognized across multiple periods, deferred revenue rollforward reports focus on the flow of deferred revenue and how much is left to be recognized.
Here’s the data included in deferred revenue rollforward reports:
- Opening deferred revenue balance: Deferred revenue balance at the beginning of a reporting period.
- New deferrals: Amount of revenue invoiced or added to deferred revenue based on new or renewed contracts.
- Recognized revenue: The portion of deferred revenue recognized from the performance obligations during the reporting period.
- Adjustments or write-offs: Adjustments resulting from contract modifications, cancellations, or revenue write-offs. If you generate revenue in other currencies, foreign currency fluctuations are also factored in here.
- Ending deferred revenue balance: Remaining deferred revenue balance at the end of the reporting period, which is rolled forward to the next period.
Some of this information is also available on waterfall reports. However, since waterfall reports focus on the flow of recognized revenue over multiple periods, they exclude new deferrals and adjustments or write-offs during a given period.
Here’s how deferred revenue rollforward reports help:
- Make you audit-ready: Auditors can use these reports to gain insights into deferred revenue calculations, allowing them to trace revenue from invoicing to recognition. They’re also an audit trail that demonstrates compliance with revenue recognition standards—ASC 606 or IFRS 15—as applicable.
- Financial forecasts: Deferred revenue rollover reports give you visibility of deferred revenue that will turn into revenue at some point in the future, helping you create more accurate forecasts.
- Performance tracking: Senior management and analysts at your company can review these reports to assess the company’s operational performance and forecast revenue potential based on existing contracts and deferred revenue trends.
Revenue Contracts Rollforward Report
This report tracks changes in a contract’s balance resulting from revenue recognition, contract modification, adjustments, and new billings. This gives you granular insights into each contract’s revenue lifecycle.
The data in the report includes:
- Opening contract balance: Includes either the balance of deferred revenue or contract assets at the beginning of the reporting period.
- Contract modifications and adjustments: Scope modifications, pricing changes, contract term changes, and any other changes that impact revenue go here.
- New billings or additions to deferred revenue: Includes new billings from contracts that weren’t immediately recognized as revenue and adds to your deferred revenue balance.
- Recognized revenue: This shows the portion of deferred revenue from a contract recognized during the period or the increase of the contract assets balance.
- Foreign currency adjustments: If you have contracts generating revenue in foreign currencies, this section includes exchange rate fluctuations. These adjustments help align deferred and recognized revenue with the reporting currency.
- Ending contract balance: Includes the balance of deferred revenue or contract liability at the end of the reporting period.
This data helps track revenue events, especially for contracts with complex recognition schedules. Tracking contract-specific adjustments, billings, and recognitions helps you gain visibility into each contract’s contribution to recognized revenue and enables you to build more accurate forecasts and budgets.
Revenue Contract Modifications Report
Revenue contract modification reports are useful for companies that typically have multi-phase contracts where terms can evolve, such as subscription services, construction, and long-term service contracts. Modifications can include changes in contract scope, pricing, and performance obligations.
The data in the report includes:
- Original contract terms: A summary of the initially agreed upon contract.
- Modification details: Shows the nature of change impacting a transaction. This could be any material aspect of the contract, such as scope, price, or timing.
- Reallocated transaction price: Shows the updated transaction price based on new terms and, when necessary, a reallocation of performance obligations.
- Cumulative catch-up adjustments: Show how modification impacts revenue that has already been recognized and what cumulative adjustments may be required.
- Future revenue recognition impact: Shows how modification impacts revenue recognition going forward with a breakdown of adjusted revenue recognition schedule across future periods.
- Foreign currency adjustments: Include currency fluctuation adjustments for contracts that involve foreign currencies.
Details in this report give you deeper insights into contract changes and their impact on financials. Contract modifications can have ripple effects on recognized and deferred revenue, and the data in this report can be instrumental in ensuring that revenue reflects true contract performance and aligns with regulatory standards.
Remaining Performance Obligations Report
Remaining Performance Obligations (RPO) reports show details of unfulfilled performance obligations, such as the total transaction price allocated to them as per ASC 606 and IFRS 15. With an RPO report, you can track which parts of each contract have pending deliverables and map out anticipated revenue over time.
Here’s what an RPO report may include:
- Total transaction price for remaining performance obligations: This is the total value or unrecognized revenue for current contracts.
- Breakdown by time period (for example, current vs. non-current): This is a time-based breakdown of unrecognized revenue, typically categorized into current (obligations to be fulfilled within 12 months) and non-current (obligations to be fulfilled beyond 12 months).
- Performance obligation type: This includes details about the nature of each performance obligation (for example, software subscriptions, professional services, or product shipments), allowing you to see the type of obligations driving future revenue.
- Contractual or customer segmentation: Some reports may segment remaining obligations by customer or contract type. This information gives you insights into revenue concentration by customer or contract category.
- Historical RPO data for trend analysis: More advanced RPO reports may include historical RPO data to analyze trends. This helps identify patterns in timing and fulfillment of performance obligations, which leads to more accurate revenue forecasts.

RPO reports help isolate each contract’s remaining obligations, enabling your accounting team to match revenue to performance milestones more precisely and while complying with ASC 606 or IFRS 15, as applicable. It also helps you make key decisions related to managing cash flow and forecasting revenue.
Final Thoughts
Accurate revenue reporting isn’t just about compliance—it’s about driving smarter business decisions. The ability to track revenue at every stage, from contract inception to recognition, enables finance teams to forecast with confidence, ensure regulatory compliance, and provide leadership with actionable insights.
RightRev: A Revenue Reporting Rockstar
RightRev helps you gain complete visibility over revenue with real-time reports. It automatically uses revenue data supplied to automate revenue recognition and ensure ASC 606 and IFRS 15 compliance to generate comprehensive revenue reports. RightRev’s ability to generate all types of revenue reports means you can make data-backed decisions using a reliable single source of truth.
If that sounds interesting, request a demo to start automating revenue processes and gain complete visibility of revenue data.