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Prepaid revenue

in Accounting / ERP

We have customers that we invoice 50-100% upon execution of the SOW.  Because we need to invoice the customer - this doesn't enable us to use the Accept Customer Deposits functionality.

We may have multiple deliveries under a single SOW, so we need to be able to "burn down" against the prepayment until it is exhausted.  We begin invoicing the customer again once the prepayment has been fully used. 

We have not been able to find an efficient way to be able to process these transactions in NetSuite (we also have OpenAir).  We currently invoice the prepayment and set the revenue schedule on deferred into perpetuity.  We then record a separate journal entry as deliveries are made and we need to recognize revenue against the prepayment. This it not optimal as it would be preferable to be able to tie the revenue recognition to the invoice (payment received for it).

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