Report Revenue with Confidence and Accuracy

Overview

NetSuite’s revenue recognition management solution helps companies comply with accounting standards and report financial results in a timely manner. Whether your business conducts sales transactions that consist of products or services, or both, and, whether these transactions occur at a single point in time or across different milestones, NetSuite’s revenue recognition solution will help you schedule, calculate and present revenue on your financial statements accurately. Automate revenue recognition with financially intelligent capabilities to report results in accordance with accounting standards.

Benefits

Report with Accuracy

Drill down to the sales order level to understand the impact on your business.

Close with Confidence

Accelerate the financial close while maintaining compliance with applicable accounting standards.

Streamline the Back Office

Eliminate errors with seamless order-to-cash processing.

Timely Information and Insight

Improve business performance with real-time access to revenue-related ending balances and revenue recognised.

Features

  • Flexible Revenue Recognition Scheduling: Define recognition schedules for sales transactions that have specific revenue and billing requirements.

  • Percentage-of-Completion Accounting: Automate revenue recognition for project types specified in accordance with SOP 81-1 (superseded by ASC 605-35).

  • Revenue Arrangements with Multiple Deliverables: Automate revenue recognition for sales transactions with multiple elements in accordance with EITF 08-1 (superseded by ASC 605-25).

  • Software and Service Contracts: Automate revenue recognition for software and service contracts specified in accordance with SOP 97-2 (superseded by ASC 985-605).

Resources

Article

Revenue Recognition in the Cloud
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Demo

See how NetSuite Streamlines the Order-to-Cash Process
Watch the demo

Award

Article

EITF 08-1 Best Practices for Adoption Article
Read the article