NetSuite Revenue Recognition
Easy Revenue Recognition enables you to schedule journal entries for services that are paid for over a predetermined period of time.
A VOIP provider needed a way to manage its income. They offered many different types of subscriptions, each with different terms and payment schedules.
Before approaching GURUS Solutions for help, they were creating entries in an Excel spreadsheet, and then manually entering the revenue in NetSuite each month.
Needless to say, this was a tedious and time-consuming task. A full revenue recognition program may have worked but was too complex for their needs.
GURUS Solutions designed Easy Revenue Recognition, a customized solution for their business process, so that they are able to automate revenue recognition that is always up to date. Also, the equivalent of two work days per month were saved. Time that was previously spent manually updating their balance sheets was now available for other more meaningful tasks.