Create Revenue recognition Journal Entry > What does the box "include prior periods" does ?

AI generated answer (using internal Slack threads):

The "Include Prior Periods" checkbox in the Revenue Recognition Journal Entry in NetSuite is used when you want to include transactions from previous periods in your current journal entry. If this box is checked, the system will include all transactions from the start of the fiscal year to the end of the selected period. If it is not checked, only transactions from the selected period will be included. This feature is useful when you need to recognize revenue that was deferred in previous periods. For example, if you sold a product in January but agreed to recognize the revenue in March, you would check this box when creating the March journal entry to include the January transaction. Please note that changing this setting can have significant impacts on your financial reports, so it's important to understand how it works and to use it correctly. ****** Disclaimer: This response was generated by an artificial intelligence assistant based on previous conversations from multiple Slack channels, and may contain inaccuracies or mistakes. ******