This site was built to compliment the existing NetSuite Professionals Slack Community by adding a means for members to easily find answers to common questions and to create a searchable database of those questions and answers.

NetSuite Professionals

Revenue Recognition question:  We are selling tickets to several customers to attend a series of events.  We need to recognize revenue on the event dates.  How do we set up a revenue recognition plan to recognize all tickets sold on the specified dates.

We have set up the tickets as an item so it can be sold to multiple customers.  How do we specify the same revenue recognition plan for all invoices/cash sales of that item? We are hoping to not have to specify on every SO/Transaction.

Event date can be the fulfillment of the item when RR plan is created. You might have to take deposit against sales order to recognise liability if you taken cash upfront.



You can use item by event or use same item and set event on custom item column like if you are going to have customers who will buy more than one event on same transaction and fulfillment of them maybe on different dates.

To clarify, the suggestion is to create an item with a revenue recognition plan based on fulfillment.  Would we be able to record the fulfillment at the item level (for all sales orders and invoices of that item) or will it need to be marked as fulfilled for every transaction/invoice. <@U412EABU2> 