How to do data migration for revenue recognition with project management for the ongoing project? If the invoice is partial billed and the revenue recognition is partial recognised?

AI generated answer (using internal Slack threads):

Based on the conversations, here's how you can handle data migration for revenue recognition with project management for the ongoing project, especially when the invoice is partially billed and the revenue recognition is partially recognized: 1. Sales Order Partially Billed, 0% Revenue Recognized for the Project: Enter the complete Sales Order into the new subsidiary. Recreate the amount already invoiced using Cash Sales and reverse the amount recognized from the cash sale. This will enable you to recognize all the revenue without overbilling your customer. 2. Sales Order Not Billed, a Portion of Revenue Has Already Been Recognized: Enter the complete Sales Order into the new subsidiary. Recognize and reverse the revenue already recognized so you do not over recognize revenue. This amount should already be recorded in the trial balance you are importing for subsidiary balances. 3. For Revenue Recognition at the Invoice Level: If you have a customer invoice that is spread over 12 months and in your old legacy system you recognized 3 months, you can upload only the nine months left in NetSuite. Alternatively, you can do the full 12 months transaction and then recognize 3 months and then reverse it with a Journal Entry. On the invoicing side, you want to also upload three invoices issued (and probably payments received). Remember to test these scenarios in a sandbox environment before doing this in production. There will be nuances to work through (like understanding the GL impact of Cash Sales, etc.) that you'll want to be sure the business understands before doing this in production. ****** Disclaimer: This response was generated by an artificial intelligence assistant based on previous conversations from multiple Slack channels, and may contain inaccuracies or mistakes. ******