Prolecto Labs

Prolecto Labs' mission is to drive continuous innovation to solve NetSuite.

Our mission is to drive continuous innovation to solve NetSuite.

Prolecto Accelerator Templates are pre-built to solve tough NetSuite problems. Our consultants tailor them to fit your business - bridging gaps, streaming workflows, and enhancing system capabilities.

Prolecto Revenue Recognition and Cost Amortization

As an alternative to NetSuite Advanced Revenue Management (ARM), we effectively generate custom revenue and cost amortization transactions shaped by custom criteria. Tools are created to produce profiles to shape the amortization algorithms. Individual projects and other transactions can have supporting amortization. Bulk tools are offered. Reclass functions for end of period between Unbilled Receivables and Deferred Revenue.


 
 

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https://840889.app.netsuite.com/core/media/media.nl?id=7306612&c=840889&h=ZwjGsgQiKRVp_EUpFMAZfurDbLjh2RbRe8EQhyCY95iDVxEL&_xt=.svg-Prolecto Revenue Recognition and Cost Amortization


What It Does

Prolecto Revenue Recognition and Cost Amortization acts as an alternative to NetSuite Advanced Revenue Management (ARM). The generation of custom revenue and cost amortization transactions is shaped by custom criteria. Tools are available to produce profiles to shape the amortization algorithms. Individual projects and other transactions can have supporting amortization. Bulk tools are available to work en masse. Reclass functions are available for end-of-period adjustments between Unbilled Receivables and Deferred Revenue.

Why It Matters

For organizations that have less complex revenue recognition, the model allows a clearer and easier path to revenue recognition and related cost amortization. No recurrent or transaction fees.

Implementation Details

Led by practice: Accounting

Other Data

Build ID 138

Accelerator Versions

Version: 20230818.RC

  1. Add department matching to GL Reclasser
  2. Add support for percentcomplete_realizeamount in revenue saved search
  3. Add support for user-defined-fields for transaction lines with line." instruction in revenue search
  4. The percentcomplete_override must be >= 0 in revenue search
  5. Add support for labels that start with _ for information only in UI to view searches (i.e., not added to arrays in rev rec algorithm)
  6. Added Verify Bundle installation script

Version: 20210906.RC

Minor revision.

Version: 20210901.RC

To support multiple subsidiaries in different currencies, enhance the transaction memo to use the correct currency symbol.

Version: 20201216.RC

This version includes a parameter that allows the user to run Revenue Recognition for the month before last, prior month, or current month.

Version: 20201120.RC

Refine mechanism for overriding the percentage complete in the custom rev rec transaction type search.

Version: 20200213.RC

Added the filter for dates for bulk tool approval.

Version: 20191212.RC

Additional logic for working with the Balance Sheet Reclassification journal and to the batch processing page to confirm the journal doesn't already exist.

Version: 20191204.RC

Additional item level pointers to get more control over GL routing.

Version: 20191118.RC

Initial client release.

All Accelerator Templates are available exclusively to the Prolecto client community.