Why is a change in project completion % not triggering variable amortization schedule to begin?
Our goal as a construction company is to automate recognizing portions of project expenses in the period of their related revenue, so we can follow the accounting matching principle. We invoice (revenue) customers at 33%, 66%, and 100% project completion. Since there can be many material and labor bills, we want to avoid preparing huge JEs.
The NetSuite Help Center has an article on "Using Percent-Complete Amortization for Project," which is exactly what we're looking for. I tried following all the instructions in our sandbox, but the test amortization schedule remains in the status of "not started" no matter what I try.
Here's a detailed breakdown of what I've done: