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• New NetSuite Prompt Studio Contest
• And more!
Check out this thread to learn more!
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