# Tax management This topic describes tax management features in Rebilly. Use tax management to simplify your accounting and to generate financial reports. For information on how to configure and manage taxes in Rebilly, see [Taxes](/docs/settings/taxes). ## Revenue recognition Revenue recognition is the process of recording revenue in the accounting records at the time the revenue is earned. Revenue recognition is important because it helps to determine the financial performance of a business. For more information, see [Revenue recognition](/docs/data-tables/revenue-recognition). ### Revenue waterfall reports Revenue waterfall reports describe revenue that is recognized up to a given month. They contain information on booked revenue, recognized revenue for the months in the issued period, and the remaining revenue up to the selected month. For more information, see [Revenue waterfall reports](/docs/reports/billing-reports#view-revenue-waterfall-reports). ### Revenue journal reports Revenue journal reports describe the revenue that is recognized up to a given month. They contain information on booked revenue, recognized revenue for the months in the issued period, and the remaining revenue up to the selected month. For more information, see [Revenue journal reports](/docs/reports/billing-reports#view-revenue-journal-reports). ### Monthly Recurring Revenue (MRR) reports Monthly Recurring Revenue (MRR) reports describe the monthly recurring revenue that is recognized up to a given month. They contain information on booked revenue, recognized revenue for the months in the issued period, and the remaining revenue up to the selected month. For more information, see [Monthly Recurring Revenue (MRR) reports](/docs/reports/billing-reports#view-mrr-monthly-recurring-revenue-reports).