Revenue Recognition

With more than 16,000 customers running NetSuite across more than 200 countries and dependent territories, some of the world’s best-known brands trust their businesses to NetSuite and take their financial and operational processes to the cloud.

Reporting Revenue With Confidence & Accuracy

Close quickly with confidence and record the finances more easily and accurately

NetSuite’s Innovative Revenue Management system helps companies follow accounting requirements like ASC 605, 606 and IFRS 15, and publish financial reports in a timely manner. The solution automates revenue planning, distribution, identification, reclassification and auditing into a system for managing incidents that is focused on rules. If your company performs sales transactions consisting of goods or services, or both, and if such transactions occur at a single point in time or over several milestones, the revenue recognition system from NetSuite can help you reliably plan, measure, and present revenue on your financial statement.

EXPLORE HOW NETSUITE CAN TRANSFORM YOUR BUSINESS

Features

Revenue Recognition for All Industries

NetSuite’s award-winning financial management software allows accounting departments to account for any contract under any revenue framework, for any given range of goods and services including software and service contracts defined in compliance with ASC 605 (and various preceding standards).

Key Capabilities:
  • Supports Percentage-of-Completion Accounting
  • Supports Event Driven Revenue Plans
  • Intelligent fair value lookup for stand-alone selling price or ESP/TPE/VSOE

Multiple Performance Obligations

NetSuite provides robust and detailed configurable solutions based on ASC 605 and ASC 606/IFRS 15 specifications, allowing rigorous enforcement with issues associated with the effective management of revenue contracts.

Key Capabilities:
  • Flexible Revenue Contracts
  • Dynamic Fair Value Pricing
  • Powerful Allocation Calculator

Revenue Recognition in Accordance with Multiple Accounting Standards

Accurately disclose financial reports under revenue reporting requirements based on various global accounting principles (e.g. GAAP, IFRS); exploit a powerful multi-book accounting system that can simultaneously document and post revenue-related operation on all books.

Key Capabilities:
  • Book-Specific Fair Value Prices, Revenue Rules, Plans and Arrangements
  • Book-Specific Financial Reporting
  • Powerful Allocation Calculator

Streamline. Automate. Comply.

Reach out to us to know how we have helped companies like you.

Our team has a combined experience of 12 years, with 35 countries served and over 500+ deployments.