How to configurate FAIR VALUE in Netsuite ARM module ?

AI generated answer (using internal Slack threads):

****** Disclaimer: This response was generated by an artificial intelligence assistant based on previous conversations from multiple Slack channels, and may contain inaccuracies or mistakes. ****** To configure Fair Value in NetSuite's Advanced Revenue Management (ARM) module, you would typically follow these steps: 1. Enable the ARM feature in your NetSuite account. This might require contacting NetSuite as there could be an additional cost associated with it. 2. Once ARM is enabled, you can start setting up your revenue recognition rules. These rules will determine how revenue is recognized over time. 3. For Fair Value revenue recognition, you would typically create a Fair Value Price list. This list will contain the fair value prices for your items. 4. When creating a sales order, you would select the items and the associated fair value prices from the Fair Value Price list. This will ensure that the revenue is recognized based on the fair value of the items, rather than the sales price. 5. You can then create Revenue Arrangements and Revenue Plans based on these sales orders. The Revenue Arrangements will group together related sales orders, and the Revenue Plans will determine how the revenue for each item in the arrangement is recognized over time. 6. If you are using SuiteBilling, you might need to keep the transactions separate and then merge the related arrangements. This can be done via scripting. Please note that this is a high-level overview and the exact steps might vary based on your specific business requirements and NetSuite setup. It's also worth noting that configuring ARM can be complex and it's recommended to work with a NetSuite professional or consulting group to ensure it's set up correctly.