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Revenue Recognition Initial Amount
Help please - in Revenue Recognition template I am using the Intial Amount field is set to 50%.
We wish to recognise 50% in the first period. This is fine but we also want to recognise the other days in the first period as well.
Lets say that I invoiced on 15 March 2011. $1000.
$500 to be recognised in March PLUS the 17 days in March $23.00 = March period to be $523.02,
April to be 30 days and so on.
Netsuite only takes the $500 and puts it in March, not sure what it is doing with the rest of the months but it does all add up to the correct amount.
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