Support for All Key Revenue Recognition Rules
NetSuite’s Advanced Revenue Management (ARM) solution helps companies comply with accounting standards including ASC 605, ASC 606, and IFRS 15, as well as reporting financial results in a timely manner. It supports all key rules, including SOP 97-2, SOP 98-9, SOP 81-1, SAB 101, EITF 00-21, EITF 08-01, and EITF 09-03.
The solution automates revenue forecasting, allocation, recognition, reclassification, and auditing through a rule-based event-handling framework.
NetSuite Advanced Revenue Management seamlessly integrates with existing ERP applications such as Oracle Financials, SAP R/3, NetSuite Financials, and third-party ERP applications.
Key Features & Benefits
- Supports percentage-of-completion accounting
- Supports event-driven revenue plans
- Intelligent fair value lookup for stand-alone selling price or ESP/TPE/VSOE
- Powerful allocation calculator
- Automatic reallocation of order value to each line item
- Customizable schedules on a per-item basis
- Manages multiple ESPs for every SKU
- Revenue recognition schedules for all sales transactions
- Flexibility for one-off and recurring billing processes
- Notification when revenue is due to be recognized
- Multi-currency and multi-subsidiary intelligence
Clear Reporting, Visibility & Monitoring
- Real-time dashboards
- Revenue recognition breakouts
- Continuous ESP monitoring and variances
- Detailed transaction visibility