NetSuite guide collection
Set up revenue arrangements and plans, manage recognition dates, and recognize project and grant revenue.
A subscription starts a month late and nothing is recognized yet. Change the Date on the revenue arrangement, run Update Revenue Plans, and check that the same plan now starts a month later.
Stop revenue recognition on one in-progress Advanced Revenue Management plan with Hold Revenue Recognition, then release it with a Catch Up Period so the held revenue is recognized in a later period. Here is the full loop, with the journal runs.
Create a Revenue Recognition Field Map in NetSuite Advanced Revenue Management to copy a custom sales order line field to revenue elements, then run Update Revenue Arrangements and check the value on the new element.
Preview an ordinary revenue arrangement merge in NetSuite, check the allocation, and verify moved elements and retained source arrangements.
Record a project's cumulative percent complete, update the revenue plans, and create the revenue recognition journal in NetSuite Advanced Revenue Management. Follow one month from a 25% to a 60% project.
Use the Revenue to Release from Use Restriction search to see how much a grant's expenses support, enter a two-line Release from Restriction from With to Without Donor Restrictions, and rerun the search to confirm nothing is left to release.
Set up an item, a project and a sales order so Advanced Revenue Management recognizes revenue by project percent complete. Here is the setup, through to an arrangement waiting for progress.