It’s a must for a NetSuite guru to provide a solid Revenue Recognition Forecast Report. There are two kinds of reports related to it, and in this guide, you will learn how to view the Forecast Summary Report. In our next blog, we will teach you how to go over the Revenue Recognition Forecast Details Report.

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.

 

Viewing Revenue Recognition Forecast Summary Report

The Revenue Recognition Forecast Summary report shows the amounts of deferred and recognized revenue for customer obligations.

Follow these steps to view the report.

  • Step 1: Go to Reports → Revenue → Revenue Recognition Forecast.
  • Step 2: Select a value in the Period filter (The From and To values update automatically).
  • Step 3: Select a Value in the Subsidiary Context (If using OneWorld account).
  • Step 4: Select a Value in the Accounting Book (If using multi-book accounting).
  • Step 5: Choose the type of components to display in the Forecasting Components. The options are: Revenue Recognition, Contract Acquisition Cost, Item Resale Cost, and Labor Cost.
  • Step 6: Click Refresh to apply filters.
Screenshot of Revenue Recognition Forecast Summary Report in NetSuite
Revenue Recognition Forecast Summary Report

 

Report Columns

The report is grouped by customer and source documents, and includes the following columns:

  • Source Document
  • Currency
  • Source Document Type
  • Element
  • Type
  • Deferred Revenue Account
  • Revenue Account
  • Is Recognized
  • Status
  • Forecasted
  • Planned
  • Planned on hold
  • Recognized
  • Projected Foreign Currency Revenue Variance
  • Amount
Screenshot of Revenue Recognition Forecast Summary Report Columns
Revenue Recognition Forecast Summary Report Columns

 
Summary
You just learned about the Revenue Recognition Forecast Summary report. Go back to the topics by clicking the links below.

 

watch video in youtube

 

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