Questions about handling of revenue recognition data on NetSuite’s rev rec platform

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Anonymous (Marketing Coordinator)
| Apr 18, 2011

This question was asked by an attendee in a recent Proformative Rev Rec webinar: What type of module do you house your Estimated Selling Price and do the allocations automatically book to the ledger? Do you store all the historical estimates for your products and does the system monitor against new contracts or old contracts as well?

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Ranga Bodla's Profile
Ranga Bodla (Industry Marketing, NetSuite)
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Ranga Bodla
Title: Industry Marketing
Company: NetSuite
| Apr 20, 2011

Estimated Selling Price or ESP is stored in NetSuite on the Item Record. NetSuite enables customers to track historical data to calculate ESP.
For allocations, these are calculated in Journal Entry “edit mode” for review prior to manual posting. If it’s a requirement to automatically book, this can be easily done. Lastly, the system tracks historical cost but doesn’t monitor against previous or current contracts.

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