NetSuite’s revenue recognition management solution helps companies comply with accounting standards and report financial results in a timely manner. Whether your business conducts sales transactions that consist of products or services, or both, and, whether these transactions occur at a single point in time or across different milestones, NetSuite’s revenue recognition solution will help you schedule, calculate and present revenue on your financial statements accurately. Automate revenue recognition with financially intelligent capabilities to recognise and report results in accordance with accounting standards including ASC 605, 606 and IFRS 15 standards.
NetSuite’s recurring revenue management solution integrates all of your front- and back-office processes for your subscription-based business.
Define recognition schedules for sales transactions that have specific revenue and billing requirements.
Automate revenue recognition for project types specified in accordance with SOP 81-1 (superseded by ASC 605-35).
Automate revenue recognition for sales transactions with multiple elements in accordance with EITF 08-1 (superseded by ASC 605-25).
Automate revenue recognition for software and service contracts specified in accordance with SOP 97-2 (superseded by ASC 985-605).