Revenue Commitments in Multi-Book Accounting
Please contact your sales or account representative to find out how to get the Full Multi-Book Accounting feature. The assistance of NetSuite Professional Services or a Multi-Book authorized partner is required to implement this feature. You should consider contacting NetSuite Professional Services or a Multi-Book authorized partner for assistance in setting up the Adjustment-Only Books feature, even though it is not required.
Multi-Book Accounting, including the Adjustment-Only Books feature, is available only in NetSuite OneWorld.
This topic provides information specific to the legacy Revenue Commitment feature. For information applicable to advanced revenue management (essentials), see Advanced Revenue Management and Multi-Book Accounting.
When the Revenue and Expense Management option for Multi-Book Accounting is enabled, revenue commitment must be created on a per-book basis. If the option is not enabled, revenue commitment is book-generic, which means that you create it one time and it is shared across all books with book-specific general ledger impact.
The Rev Rec on Rev Commit box is included on the Accounting Books subtab when the Revenue and Expense Management feature is enabled so that it can be set for each secondary accounting book. For the primary book, this box is on the Accounting subtab.
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When the box is checked, the revenue recognition schedule is attached to the revenue commitment.
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When the box is cleared, the revenue recognition schedule is attached to the sales invoice.
The Generate Revenue Commitments transaction includes an Accounting Book list.
The Commit Revenue button on the sales order is only for the primary book. To work with revenue commitments for secondary books, use the Generate Revenue Commitments and Reverse Revenue Commitments commands on the Transactions menu under Financial. To see the source of the revenue commitment for secondary books, use the Created From link on the Revenue Commitment record.
If more than one accounting book uses revenue commitments, you must execute the month-end deferred revenue reclassification process for each accounting book with revenue commitments enabled. Reclassification accounts are not subject to chart of accounts mapping rules. All reclassification journal entries created by this process are book-specific and use the base currency of the accounting book.
Month-end line level reclassification depends on book-specific allocation ratios being the same as the ratio defined on the sales order. This is because the line level reclassification process uses the sales order allocation ratio to process the carve in/out logic. For more information about line level reclassification, see Line Level Deferred Revenue Reclassification. When different books use the same allocation ratio as the sales order, you can execute the line level reclassification on all of them. The resulting reclassification journal entries are book-specific because different books may have different base currencies.