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New AI Community Guidelines. Please review and follow them to ensure AI use stays safe, accurate, and compliant.
Keep an eye out for upcoming NetSuite events, including meetups, workshops, and webinars. These sessions are a great way to connect with peers, learn from experts, and stay current on the latest NetSuite updates and best practices. Registration links are provided in each event.
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Join the NetSuite community to innovate, connect, and discover what’s next.
SuiteWorld brings thousands of innovators, builders, and leaders together to learn, connect, and shape what’s next. This October, explore how to build a stronger foundation for growth through inspiring keynotes, major product reveals, hands-on sessions, and unforgettable moments—all in one place for our biggest event of the year. Register now
Join the NetSuite community to innovate, connect, and discover what’s next.
SuiteWorld brings thousands of innovators, builders, and leaders together to learn, connect, and shape what’s next. This October, explore how to build a stronger foundation for growth through inspiring keynotes, major product reveals, hands-on sessions, and unforgettable moments—all in one place for our biggest event of the year. Register now
Reminder: Upcoming Changes to Percent Complete Revenue Rule for Project Revenue Recognition
NetSuite is enhancing percent complete revenue rules to include a temporary preference for recognizing revenue at the time of work. This change will enable you to recognize revenue for projects during the same period as the work occurs.
This notice applies to accounts that have the preference available. If you do not enable the preference yourself, it will be enabled automatically within the 2021.1 release, and your data will be recalculated. The recalculation will not influence your data even if your data changes.
Why is NetSuite Making this Change?
Currently, NetSuite recognizes revenue in the period an event is submitted in the system. This can create issues when an event occurs in one accounting period but is submitted into the system in a different period.
Regards,
@Robert Nedelkow-Oracle | NetSuite Support Community Administrator
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