The quick answer
On the project's Financial subtab, add a line to Percent Complete Override with the Accounting Period and the Cumulative Percent Complete, then save. Open the revenue arrangement and click Update Revenue Plans so the plan gets a line for the period. That line is the change in cumulative percent times the revenue amount, and nothing is posted yet. Then run Create Revenue Recognition Journal Entries for the posting period, limited to the project. The journal debits the deferral account and credits the recognition account, and the plan's Total Recognized goes up by the same amount.
The screenshots show sample data. Person and operating-company names are fictional. Use your own records and values when following the steps.
Before you start
This guide assumes Advanced Revenue Management and Projects are on, and the item uses a revenue recognition rule with Amount Source set to Event-Percent Complete on an item whose Create Revenue Plans On is Project Progress. The sales order line names the project, and an actual revenue plan already exists. In this example the plan's Amount Source shows Event-Percent Complete, and the order is a 48,000.00 pump upgrade for Lakeside Utility, delivered as project PRO214 Pump Upgrade. September closed at 25%, and 12,000.00 was recognized then by journal 1846. We're closing October with the project at 60% complete. Create percent-complete journals in period order, so September is posted before October.
Enter the cumulative percent, the total complete to date. If you enter October's own share (35), the plan recognizes the wrong amount. Each plan line recognizes the change since the prior period, so here it's (60.0% - 25.0%) x 48,000.00 = 16,800.00.
You need a role that can edit the project, update revenue arrangements, and create revenue recognition journals. Approve Journal only produces an approved journal if your role can approve journals and your account's approval settings allow it. Otherwise the journal can wait for separate approval. The posting period has to be open, and subsidiary, accounting book, and role permissions decide which plans the run lists. The menu path below is the one in this account. If your role puts the page under a Revenue menu, search for its name instead.
The override is one source of progress. For a period with no override line, NetSuite can use the project's calculated completion, for example from approved project time. If you want to control every period by hand, add a line for each one. In this demo project the Rev Rec Forecast Rule and Use Percent Complete Override for Revenue Forecasting are left empty, and the October plan line still came from the override. That checkbox decides whether the same sublist drives forecast plans. It isn't needed for the actual plan in this walkthrough. Also check whether your account runs plan updates on a schedule. If it does, the plan changes after the next scheduled update and you don't need to click the button yourself.
01. Check the plan before the update
Open Revenue Arrangement #614 and click View Revenue Plans to open plan 3318. Before you change anything, note where it stands. Total Recognized is 12,000.00 and Remaining Deferred Balance is 36,000.00 out of the 48,000.00 Amount. The Planned Revenue sublist has a single line, Sep 2026 for 12,000.00 with journal 1846. There's no October line yet.
02. Enter the cumulative percent complete
The plan was created by the project, so use the Creation Triggered By link to open it.
On the Financial subtab, Percent Complete Override shows Sep 2026 at 25.0%.
Click Edit, stay on Financial, and on the new line choose Accounting Period Oct 2026 and type 60 in Cumulative Percent Complete. Click Add, then Save.
NetSuite shows Project successfully Saved, and the sublist lists both periods.
Saving the project doesn't change the plan. That's the next step.
03. Update the revenue plans
Open Revenue Arrangement #614 again, for example from Recent Records, and click Update Revenue Plans. Then open the plan. Total Recognized still reads 12,000.00, because updating a plan schedules revenue and doesn't post it. Planned Revenue now has an Oct 2026 line for 16,800.00 and no journal.
Scroll the sublist to the right and % Recognized in Period reads 35.0% for October, the step from 25% to 60%. % Total Recognized is 0.0% until the journal posts.
04. Create the journal for the project
Go to Transactions > Financial > Create Revenue Recognition Journal Entries. If your account schedules the run, the same page comes from Schedule Revenue Recognition Journal Entries > Run Now. Keep Posting Period at Oct 2026 and Journal Entry Date at 10/31/2026. Check Approve Journal, and set Customer:Project to Lakeside Utility : PRO214 Pump Upgrade so the run only picks up this project. The Revenue Recognition Plans grid should list plan 3318 for Oct 2026 at 16,800.00. If it's empty, the project's progress or the plan update didn't happen. Click Create Journal Entries.
05. Check the journal
Journal Entries Created from Revenue Recognition lists the result: journal 1893 for 16,800.00 in Oct 2026.
Open it. Here the status is Approved for Posting, because Approve Journal was checked and the role can approve. In your account it may be pending approval instead. The lines debit 2410 Deferred Revenue and credit 4150 Services Revenue for 16,800.00. Created From names Revenue Recognition Plan #3318.
06. Confirm the plan
Click the Created From plan link to go back to plan 3318.
Check the result
- Total Recognized is 28,800.00, which is 60% of 48,000.00, and Remaining Deferred Balance is 19,200.00.
- The Oct 2026 line shows journal 1893 and a Date Executed of 10/31/2026.
- % Total Recognized on that line matches the project's cumulative percent complete.
The recognized total is now tied to the project's progress. Next month, add a new override line with the new cumulative percent and repeat the update and the journal run. If you lower the cumulative percent in a later period, that period's plan line can come out negative. It reverses revenue recognized earlier only after you create the journal for that period.
Common questions
Is Cumulative Percent Complete the total or just this month's progress?
It's the total complete to date. If September was 25% and October is 60%, you enter 60. October's plan line recognizes the 35% step between them, not 60% again.
Why didn't the revenue plan change after I saved the project?
Saving the project records the progress and nothing else. The plan gets its new line when you click Update Revenue Plans on the revenue arrangement, or after your account's next scheduled plan update. Even then, Total Recognized doesn't move until you create the journal.
How does NetSuite work out the amount for a period?
It takes the change in cumulative percent and applies it to the plan's revenue amount: (current cumulative % - prior cumulative %) x revenue amount. In this example that's (60% - 25%) x 48,000.00 = 16,800.00.
What happens if I lower the cumulative percent in a later period?
That period's plan line can come out negative. It reverses revenue recognized earlier once you create the journal for the period, so the journal does the correcting, not the project save.
How do I create the journal for just one project?
On Create Revenue Recognition Journal Entries, set the Posting Period and set Customer:Project to the project before you click Create Journal Entries. Check the grid first. It should list only that project's plan for the period. Check Approve Journal only if your role and approval setup allow it, since otherwise the journal can wait for approval.
What if a period has no override line?
NetSuite can fall back on the project's calculated completion, for example from approved project time. If you want to set progress by hand, add an override line for every period you recognize. This walkthrough only shows a period with an override.