Hi ARM gurus, I’ve been working with a customer that is using QuickBooks for project billing & rev rec. We are now setting up these projects in NetSuite and running into an issue when recognizing revenue - period 3's JE is not matching their manual reconciliation. The first two periods recognized revenue to match to their manual calc and the 3rd seems to be overstated. • Rev rec plans are set to create on billing • Rev arrangement is created by the SO and contains a software license subscription ◦ Fair value allocation is involved and ties-out to their manual calc • The project has a time-based rule for each service item w/ a money cap ◦ The cap kicked in one for one of those service items in the 3rd period Has anyone dealt with a similar issue re: project billing and rev rec?

how does SO data get into NS - manually entered or via API? Does the prof services revenue is the one that is not calculated correctly?

Manually entered and yes it’s the professional services item/revenue

Do you refresh the project from SO? what is your rev rec settings and trigger on the service items?

Yes, project is created and project tasks are added. Then refresh the project from the SO happens. The rev rec is set to create rev plans on billing. The revenue on service items is recognized as it’s billed

hm…. I am not super expert on the project, but if you refresh an item from the project where you recognize revenue on billing (directly from project) you are doubling up when you have the item refreshed from the project onto SO because then you run revenue arrangement and create revenue plans for the piece that has been recognized from the project.

Well, appreciate the insight anyway! The create revenue plans on is set to Billing on the item config. No project revenue rules are setup.