NetSuite Advanced Revenue Recognition Software Review
NetSuite Advanced Revenue Recognition Software Review
Netsuite Advanced Revenue recognition is a cloud ERP solution that helps companies automate their revenue recognition processes while also being able to integrate with Oracle Financials or SAP R/3. NetSuite Advanced Revenue Recognition provides complete support for key revenue standards, including compliance with AICPA, FASB and SEC regulations.
NetSuite Advanced Revenue Recognition Software Key Features:
- Supports all Key Revenue Recognition Rules: includes complying with AICPA, FASB and SEC regulations’ including SOP 81-1, SAB 101 EITF 00-21, EITF 08-01 and EITF 09-03; also recognizes revenue from each line item according to its revenue recognition method.
- Effective Revenue Recognition Management for Multi-Element Sales: software tracks and supports units of accounting and selling price while delivering automatic reallocation of order value. Helps companies manage estimated selling prices for all SKUs and can help companies compare current trends in actual selling price vs. ESP.
- Flexible Revenue Recognition: NetSuite software supports revenue recognition schedules for all sales transactions and helps companies receive immediate notification when revenue is due for recognition. Software also keeps recognized revenue separate from billing processes and can help companies gain multi-currency and multi-subsidiary BI.
- Integrate with SAP, Oracle: NetSuite Advanced Revenue Recognition software can be integrated with SAP and Oracle systems as well as be added on to NetSuite Financials; making a more streamlined process between recognizing revenue and updating financials.
- Provides Revenue Recognition Templates: two types of templates in NetSuite Advanced Revenue Recognition software; general templates or customizable templates. Types of templates can help companies organize their revenue recognition to best fit their needs.
- Clear Reporting and Visibility: with real-time reporting dashboards, companies can monitor recognized revenue as well as generate detailed reports.