configuring and working with Fair Value on ARM

AI generated answer (using internal Slack threads):

Based on the conversations, it seems that configuring and working with Fair Value on ARM (Advanced Revenue Management) in NetSuite involves several steps and considerations. Firstly, it's important to understand that ARM is used for modern requirements for revenue recognition. This is particularly useful when you have contracts signed for the year but billed quarterly. When it comes to combining ARM with SuiteBilling, it appears that only NSPS is allowed to configure SuiteBilling. However, it's possible to calculate and recognize fair value revenue for subscription/hardware sold in a bundle by keeping the two transactions separate and then merging the related arrangements. This can be achieved via scripting. In terms of setting up Item Revenue Categories, if you're using ARM with Fair Values, Item Revenue Categories are used to replace FAM pricing per item. This is a crucial step in the configuration process. Remember, both ARM and SuiteBilling contain serious accounting concepts that need study to get the correct setup for the client. Both can break financial results if done wrong, so it's important to have a thorough understanding of these systems. ****** Disclaimer: This response was generated by an artificial intelligence assistant based on previous conversations from multiple Slack channels, and may contain inaccuracies or mistakes. ******