Here’s another NetSuite report that will help you with revenue recognition. The Billing and Revenue Summary report displays billing, revenue recognition, and revenue deferral data for sales transactions and projects.
In this guide, the following will be covered:
I suggest you watch the video. It’s easier to understand if you are a visual/audio learner. The content below is the same as the video. It’s for those who learn by reading.
Once logged into NetSuite, follow these steps:
- Step 1: Go to Reports → Revenue → Billing and Revenue Summary.
- Step 2: Adjust the values for Date, To, and From.
- Step 3: Select a Value in the Subsidiary Context (if using OneWorld account).
- Step 4: Select a Value in the Accounting Book (if using multi-book accounting).
- Step 5: Click Refresh to apply filters.
The report includes the following columns:
- Source Document Number
- Source Type
- Revenue Arrangement
- Total Amount Billed
- Total Amount Planned
- Total Amount Recognized
- Total Amount Deferred
Clicking the values in the first four columns will open the associated records. Note that Invoice is displayed as the source type for charge-based projects.
You just learned how to view the Billing and Revenue Summary Report in NetSuite. To recap, you can click on the links below.