Advanced Revenue Management Essentials in NetSuite 2024.2

TL;DR Opening

Starting in NetSuite 2024.2, the Advanced Revenue Management Essentials feature is introduced, streamlining the revenue recognition processes through automatic enabling when the feature is activated. This enhancement simplifies setup and functionality for administrators and financial professionals.

What's New

Automatic Enabling of Features

When the Advanced Revenue Management (Essentials) feature is enabled, Advanced Revenue Management enters Configuration Mode automatically. This integration offers users greater ease in managing revenue recognition tasks without needing to configure additional settings.

How to Enable

To activate the Advanced Revenue Management (Essentials) feature, follow these simple steps:

1. Navigate to Setup > Company > Setup Tasks > Enable Features (ensure you have administrative access).
2. Go to the Accounting subtab.
3. In the Revenue Accounting section, check the box for Advanced Revenue Management (Essentials).

This streamlined process simplifies the transition to using advanced revenue management capabilities, making it more accessible for users.

Who This Affects

The updated feature primarily impacts the following roles and modules:

• Administrators: Simplified activation process leads to reduced setup time.
• Accountants: Improved functionality for revenue recognition management.
• Business Analysts: Easier reporting and analysis of revenue data thanks to enhanced automation.

Key Takeaways

• The Advanced Revenue Management Essentials feature launches with automatic enabling in Configuration Mode in 2024.2.
• Simplifies revenue recognition processes for easier management.
• Activation requires administrative access via the Enable Features screen.
• Streamlined process supports user efficiency and reporting accuracy.