The Advanced Revenue Management (ARM) process in NetSuite is designed to automate and accurately manage revenue recognition in compliance with global accounting standards such as ASC 606 and IFRS 15. The ARM process begins with the configuration of service or product items in NetSuite, each linked to appropriate Revenue Recognition Rules that define when and how revenue is recognized. The commonly used revenue recognition methods include Straight-Line (Even Periods), where revenue is spread equally across each period regardless of the number of days, and Straight-Line (Exact Days), where revenue is recognized based on the actual number of days in each period, providing more precise revenue allocation for contracts spanning uneven months. The Amount Source further defines how much revenue is recognized, with options such as Event Percent Based on Amount, Event Percent Project Completion, or Total Contract Value (TCV), ensuring revenue recognition is accurately tied to project progress, milestones, or contractual amounts. Integration with O360, the project management system, plays a key role in automating the downstream process by transferring project details, including Customer, Project Name, Contract Amount, Start Date, and End Date, into NetSuite, which in turn triggers automated Sales Order (SO) creation. Once the SO is created, NetSuite generates Revenue Arrangements and Revenue Elements based on the items and their associated rules, followed by the automatic generation of Revenue Plans. Revenue recognition then occurs based on the defined schedules, with automated journal entries such as the movement from Deferred Revenue (Liability) to Revenue (Income) at month-end, followed by the reclassification to Unbilled Revenue (Asset) if revenue is recognized but not yet invoiced. Once invoices are generated, additional journal entries ensure Deferred Revenue is properly updated, and any excess invoicing is retained in Deferred Revenue until the corresponding revenue is earned. This structured, automated approach allows businesses to manage complex revenue processes for Fixed Fee, Time & Material, and License contracts, while providing full visibility and compliance through accurate journal entries, Revenue Arrangements, and audit-ready revenue schedules within NetSuite.