#108 | NetSuite’s Revenue Recognition Forecast Summary Report

It’s a must for a NetSuite guru to provide a solid Revenue Recognition Forecast Report. There are two kinds of reports related to it, and in this guide, you will learn how to view the Forecast Summary Report. In our next blog, we will teach you how to go over the Revenue Recognition Forecast Details Report.

The following topics will be covered:

Viewing Revenue Recognition Forecast Summary Report
Report Columns

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.

Viewing Revenue Recognition Forecast Summary Report

The Revenue Recognition Forecast Summary report shows the amounts of deferred and recognized revenue for customer obligations.

Follow these steps to view the report.

Step 1: Go to Reports → Revenue → Revenue Recognition Forecast.
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.