Generate 606 Analysis in Rillet

Revenue recognition under ASC 606 requires careful consideration of contract terms, performance obligations, and allocation methods. It’s a process that can be complex, highly judgment-driven, and risky if performed manually.

Rillet simplifies this challenge with Aura AI. Instead of spending hours combing through contracts, Aura AI automatically analyzes the document, identifies obligations, and applies the ASC 606 framework. The result is a consistent, audit-ready analysis that reduces manual work, lowers interpretation risk, and gives finance teams greater confidence in their revenue recognition process.

To Generate a 606 Analysis:

  1. Go to Accounts Receivable > Contracts.

  2. Click three dots (...) the locate next to + Add contract.

  3. Select Generate 606 Analysis from the dropdown menu.

  4. Drag and drop your contract file or click Browse files to upload it.

AI Contract Analysis Results:

Aura AI applies the five steps of ASC 606 to your contract and presents a structured, audit-ready analysis

  1. Identify the contract – confirming customer, terms, and enforceability.

  2. Identify performance obligations – breaking out goods and services promised.

  3. Determine the transaction price – including fixed amounts, discounts, or variable consideration.

  4. Allocate the transaction price – distributing revenue across obligations.

  5. Recognize revenue – establishing schedules that align recognition with performance.

These results appear in the AI Contract Analysis screen, showing the contract terms, obligations, allocations, implementation details, and an in depth final conclusion. You can then copy the analysis into your workflow or download it for audit support.

See Also

For more contract setup and revenue recognition options, see the following articles:

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