Defining Expense Categories for Billable Expenses

Note:

This topic applies to the Revenue Recognition feature. Revenue Recognition is the key feature of NetSuite classic revenue recognition. Classic revenue recognition features are not available in new NetSuite implementations. Classic revenue recognition (also called legacy revenue recognition) is still supported for customers who previously enabled it. NetSuite currently offers the Advanced Revenue Management (Essentials) feature to automate revenue deferral and recognition. For information about the current feature, see Advanced Revenue Management (Essentials) and (Revenue Allocation).

Before you can defer revenue on billable expenses items, you must set up the expense category record.

To set up a billable expense account for Revenue Recognition:

1. Go to Setup > Accounting > Expense Categories.

2. Click Edit next to the appropriate expense category.

3. In the Expense Account field on the Expense Category page, select the account in which you track billable expenses.

4. Click Save.

Related Topics

Using Revenue Recognition

Setting Up the Revenue Recognition Feature

Expense Categories

Creating an Expense Category

General Notices