Brief Overview of Revenue Recognition Improvements in the NetSuite 2023 Release 2023.2

  • Isolate revenue recognition from the invoicing process.
  • Distinguish revenue recognition forecasts from actual revenue plans.
  • Utilize event triggers, such as project percentage completion, fulfillment, or billing, to initiate the generation of planned revenue recognition.
  • Efficiently generate period-end revenue recognition entries in bulk.
  • Automatically reclassify deferred revenue for recognized revenue that remains unbilled.

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