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To view the Revenue Waterfall chart, navigate to Reports > Charts > Revenue Recognition > Revenue Waterfall.
Depending on your billing cycles, and other details like one-time payments, billings and revenue can be relatively disconnected. The revenue waterfall visualizes the billing volume top to bottom and recognized revenue by month from left to right. The two dimensions of the revenue waterfall table connect billing and revenue so that you can get a clear picture of how each months' billings are translated into recognized revenue over time.
The billing date and invoice date can differ depending on the billing system used. Also, billings only translate into revenue over time, as detailed in ASC 606.
Each cell in the chart is clickable. Once clicked, the breakdown of the numbers will be displayed showing which customers are contributing to the values.