Last week, you learned about the Activity Report version of the Deferred Revenue Reclassification report. In this tutorial, you will learn about the Reclassification Report only.
The following topics will be covered:
I suggest you watch the video. It’s easier to understand if you are a visual/audio learner. The content below is the same as the video. It’s for those who learn by reading.
Once logged into NetSuite, follow these steps:
- Step 1: Go to Reports → Revenue → Deferred Revenue Reclassification.
- Step 2: Set the values for Period and As of
- Step 3: Select a Value in the Subsidiary Context (if using OneWorld account).
- Step 4: Select More to expand the filter and set additional filters.
- Step 4b: Under More settings, select a value in the Accounting Book
- Step 5: Click Refresh to apply filters.
Use this report to do the following:
|Audit the reclassification activities shown in the Deferred Revenue Reclassification Activity Report||Provide detailed information about how the reclassification journal entry amounts are calculated for each order line||Forecast the recognition periods for current outstanding deferred revenue balances|
When you run this report, NetSuite stores a snapshot of the values in the accounts. You must run the reclassification process before you run the report to get the latest status for the period.
The results of this report are grouped by customer, revenue arrangement, and individual revenue element.
When the accounting preference Unbilled Receivable Adjustment Journal Grouping is not set to Element, each revenue arrangement includes at least one Unbilled Receivable Adjustment row.
This report includes the following columns:
- Line Number
- Total Amount (Tran Curr)
- Total Revenue Allocation Amount (Tran Curr)
- Gross Cumulative Billing Amount (Tran Curr)
- Carve Out Amount (Tran Curr)
- Carve In Amount (Tran Curr)
- Effective Cumulative Billing Amount (Tran Curr)
- Gross Cumulative Billing Amount (Base Curr)
- Carve Out Amount (Base Curr)
- Carve In Amount (Base Curr)
- Effective Cumulative Billing Amount (Base Curr)
- Average Billing FX Rate
- Current Period Deferred Revenue Adjustment (Base Curr)
- Deferred Revenue Account
- Cumulative Rev Rec Amount (Tran Curr)
- Cumulative Rev Rec Amount Before FX Adjustment (Base Curr)
- Average Rev Rec Rate
- Overlapping Amount (Tran Curr)
- Cumulative Gain/Loss
- Current Period FX Adjustment
- Cumulative Rev Rec Amount After FX Adjustment (Base Curr)
- Revenue Account
- Unbilled Receivable Group
- Cumulative Unbilled Receivable Amount (Tran Curr)
- Cumulative Unbilled Receivable Amount (Base Curr)
You just learned how to view the Deferred Revenue Reclassification Report in NetSuite. To recap, you can click on the link below.