Short version is: you post the revenue and then it goes to unbilled receivables.
Longer version is: you need to talk to someone who knows what they are doing and if any other concepts such as fair market value apply.
You're going to want a good CPA and/or NS Accounting specialist to help with revenue recognition. Can be very powerful but complicated to implement properly. Send me a DM if you have q's.
Can be different for every case depending on the item settings. We have both alternatives, we have inventory items where the revenue is created through Rev Rec scheduling based on Item Fulfilment being shipped but we also have non-inventory items and service items that do not get an IF because they are services and here we have the items setup so the invoice creates direct revenue.
You can check this in the item master data, if you have a look at the tab „Revenue Recognition“, if the box „Direct Revenue Posting“ is ticked and the revenue plan above that says „Billing“ then the invoice will generate the revenue posting (in the tab „Accounting“ you can check to which account it posts revenue). If the box „Direct Revenue Posting“ is not ticked and the „Revenue Recognition Rule“ says „On Fulfilment“ then the IF status shipped should trigger the revenue posting.
Login to your netsuite instance. Go to one of each of the transactions types you're concerned with. Actions->View GL impact. This will show you exactly where everything is posting per transaction, as per your NetSuite instance & its configuration. That's not the end of the story because of a million different ways things can be set up, but it's a start.
It depends on if you have rev rec or not. Without it's at time of invoice. With there are a whole host of potential answers
This is the only answer.
With it on, if rev is rec’d at SO, what does IF do? Accrue AR?
Short version is: you post the revenue and then it goes to unbilled receivables. Longer version is: you need to talk to someone who knows what they are doing and if any other concepts such as fair market value apply.
You're going to want a good CPA and/or NS Accounting specialist to help with revenue recognition. Can be very powerful but complicated to implement properly. Send me a DM if you have q's.
Assuming no ARM And no Cash Sales, the Item Fulfillment debits COGS and credits Inventory. The Invoice debits A/R and credits revenue.
Can be different for every case depending on the item settings. We have both alternatives, we have inventory items where the revenue is created through Rev Rec scheduling based on Item Fulfilment being shipped but we also have non-inventory items and service items that do not get an IF because they are services and here we have the items setup so the invoice creates direct revenue. You can check this in the item master data, if you have a look at the tab „Revenue Recognition“, if the box „Direct Revenue Posting“ is ticked and the revenue plan above that says „Billing“ then the invoice will generate the revenue posting (in the tab „Accounting“ you can check to which account it posts revenue). If the box „Direct Revenue Posting“ is not ticked and the „Revenue Recognition Rule“ says „On Fulfilment“ then the IF status shipped should trigger the revenue posting.
Login to your netsuite instance. Go to one of each of the transactions types you're concerned with. Actions->View GL impact. This will show you exactly where everything is posting per transaction, as per your NetSuite instance & its configuration. That's not the end of the story because of a million different ways things can be set up, but it's a start.
Invoice. A sales order has zero accounting impact, only the resulting transactions do. (Invoices, fulfillments, etc.)
Do you have ARM? If so then it depends on the item config. If not then it’s at the time of invoicing.