Discussions
Stay up-to-date with the latest news from NetSuite. You’ll be in the know about how to connect with peers and take your business to new heights at our virtual, in-person, on demand events, and much more.
Now is the time to ask your NetSuite-savvy friends and colleagues to join the NetSuite Support Community! Refer now! Click here to watch and learn more!
New AI Community Guidelines. Please review and follow them to ensure AI use stays safe, accurate, and compliant.
Stay in the Know
Be sure you're subscribed to NetSuite communication to stay in the know about monthly happenings, updates and announcements. Subscribe
Be sure you're subscribed to NetSuite communication to stay in the know about monthly happenings, updates and announcements. Subscribe
Revenue Recognition - Advanced Billing
All,
I have 3 questions
1. Just confirming that Advanced Billing Schedules simply spread out the creation of invoices and do not generate entries into unearned / deferred revenue.
I could only get journal entries created for each bill as follows (at the time the bill is created):
DR Receivables
CR Revenue
2. But we could use amortization journal entries to progressively recognise revenue if it were earned over say 12 months? (this would be a workaround)
3. We would need advanced revenue management to do more complex revenue recognition (such as milestone billing)?
Thanks.
3