28 results total
Browse practical NetSuite answers in Revenue Recognition, filtered by topic, audience, and difficulty.
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No, NetSuite does not automatically update the recognition or deferral accounts for existing revenue arrangements. Even if the associated item's sales account is changed, the accounting treatment for…
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NetSuite allows users to perform revenue recognition catch-up periods multiple times to adjust for past discrepancies. However, it is crucial to note that a catch-up cannot be applied…
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Using negative lines on sales orders with Advanced Revenue Management can cause reclassification failures for unbilled receivables, leading to deferred revenue discrepancies. To resolve this, update the 'Unbilled…
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NetSuite will automatically update revenue plans and recognition journal entries when the quantity on an item fulfillment is changed, even if revenue has already been posted. This ensures…
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Placing revenue recognition on hold impacts NetSuite invoices differently based on whether a revenue recognition rule is assigned to the line item. With a rule, the invoice's GL…
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NetSuite's application of discounts with billing schedules depends on where the schedule is applied. A header-level billing schedule divides the order's net amount across intervals. For line-level schedules,…
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Yes, it is possible to adjust deferred revenue GL accounts. This typically involves a journal entry to reclassify the deferred revenue balance. For instance, to move a $2…
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To adjust NetSuite billing schedules for contract changes, create custom line-level billing schedules. When a contract amendment occurs, add new line items for the changes and assign them…
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Cancel a NetSuite contract mid-term by creating a Return Authorization (RMA) against the Sales Order, which initiates financial reversals. Prevent contract renewal using NetSuite's 'Cancel Contract' or 'Terminate…
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To support residual value under VSOE in NetSuite's Advanced Revenue Management, configure item records with 'Software' allocation type and appropriate 'Default as Delivered' settings. Additionally, ensure the 'Is…
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The 'Bad SQL Statement' error in NetSuite Advanced Revenue Management, when using project revenue rules with charge-based billing, occurs when a manually created revenue rule conflicts with a…
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When a sales order's revenue recognition start date precedes the current open accounting period, NetSuite will divide the total revenue by the original number of periods. If the…
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