Author: Anjana Sajeevan

Revenue Recognition Methods: Straight-Line, Percentage of Completion, and Time and Material

Revenue recognition is an important accounting principle that determines when and how revenue is recognized in financial statements. Different methods are used depending on the nature of the business, the type of contract, and the timing of service delivery. Three common revenue recognition methods are the straight-line method, the percentage of completion method, and the… Continue reading Revenue Recognition Methods: Straight-Line, Percentage of Completion, and Time and Material

WAVE in NetSuite

WAVE: In NetSuite WMS, a WAVE is a process that groups multiple sales orders together for fulfillment, allowing warehouse staff to pick items in batches instead of handling each order individually. This approach improves efficiency, reduces travel time in the warehouse, and optimizes resource utilization, making it ideal for high-volume environments. The typical WAVE lifecycle… Continue reading WAVE in NetSuite

Static vs. Dynamic Testing

In software development, ensuring quality is paramount. Two key testing approaches—static testing and dynamic testing—play distinct yet complementary roles in achieving this goal. This article provides a clear, professional overview of both methods, their differences, and their applications, ideal for teams seeking to understand their testing options. What is Static Testing? Static testing involves evaluating… Continue reading Static vs. Dynamic Testing

Difference Between Iterative Model and Incremental Model

When learning about Software Development Life Cycle (SDLC) models, two common terms are the Iterative Model and the Incremental Model. While they may sound similar, they have distinct differences in how software is built. Iterative Model The Iterative Model is like improving a rough draft over and over. You start with a basic version, then… Continue reading Difference Between Iterative Model and Incremental Model

Difference Between Adjust Inventory and Adjust Inventory Worksheet in NetSuite

In NetSuite, both Adjust Inventory and Adjust Inventory Worksheet are used to update inventory quantities, but they serve slightly different purposes and offer distinct workflows. The Adjust Inventory option is typically used for detailed, individual inventory corrections. It allows users to select specific items, enter new quantities, and specify adjustment accounts. This method is ideal… Continue reading Difference Between Adjust Inventory and Adjust Inventory Worksheet in NetSuite

Sales Forecast in NetSuite

Sales forecasting in NetSuite helps businesses predict future revenue based on historical data, current opportunities, and sales team projections. This feature provides visibility into expected sales, allowing better planning for inventory, staffing, and budgeting. You can create sales forecasts manually or have them generated automatically from opportunities and quotes entered by the sales team. To… Continue reading Sales Forecast in NetSuite

Revaluing Open Currency Balances in NetSuite

Revaluing open currency balances in NetSuite is a key process for companies dealing with multiple currencies, ensuring that foreign currency balances are accurately reflected based on current exchange rates. This process adjusts the value of open Accounts Receivable, Accounts Payable, and other foreign currency accounts to reflect fluctuations in exchange rates at the end of… Continue reading Revaluing Open Currency Balances in NetSuite