Is it easy to reconcile contract value, invoiced amount and revenue recognized for EACH SUBSCRIPTION CONTRACT in SuiteBilling plus ARM? Does not seem to be available out of the box.

Not sure if suitebilling actually matters here (I dont know if there are special reports in suitebilling for this e.g.) but everything should be available just from ARM. The balance account reconciliation tools in Netsuite are both beta and rudimentary but the data you can get would include the out of the box deferred revenue waterfall reports, reclassification (recognized but not yet billed) and forecast reports. You have to do this at specific times to not get data that is not in sync, ideally around close - if you run rev rec every 3 hours (automated setting) it may lend itself better to higher frequencies. If you need to pull data yourself to somewhere else (or make your own search), note that TCV you have on the arrangement but details you need to grab from elements and plans. The arrangement is 1-n to elements, which are 1-n to plans, which are ultimately 1-n to actual journals from the monthly bookings (and reclassifications as well as their reversals.)

@Luis - do you have the SAAS SuiteApp? Those reconciliation reports are there (in Analytics)

We haven't actually purchased it. We are just considering and testing it. Thanks everyone.