In relation to last week’s blog, you will now learn the Detail Report for Revenue Recognition Forecast. This report shows the amounts of deferred and recognized revenue for revenue arrangements.
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 → Revenue Recognition Forecast Detail.
- Step 2: Select a value in the Period filter (The From and To values update automatically).
- 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: Choose the type of components to display in the Forecasting Components. The options are: Revenue Recognition, Contract Acquisition Cost, Item Resale Cost, and Labor Cost.
- Step 6: Click Refresh to apply filters.
You can use this report to view the totals for deferred revenue and the periods when revenue recognition is planned.
The report includes the same columns as the Revenue Recognition Forecast Summary Report, but it is not grouped.
Below are the additional columns in the report. You can click on them to open the associated records.
- Customer: Job
- Item Name
You just learned how to view the Revenue Recognition Forecast Detail Report in NetSuite and other reminders if you want to see the amounts of deferred and recognized revenue for revenue arrangements. To recap, you can click on the link below.