Working with Revenue Recognition Journal Entries

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 equivalent information about the current feature, see Revenue Recognition Journal Entries.

Although revenue recognition schedules provide the information required to recognize revenue, you must generate the appropriate journal entries to post revenue to the general ledger. For information, see the following:

Note:

For information about journal entries that recognize revenue based on the percentage of project work completed, see Percent-Complete Based Recognition Journal Entries.

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