Time Project Billing Revenue Recognition with an Inactive Time Billing Rule in SuiteProjects Pro

The NetSuite SuiteProjects Pro revenue recognition rule type Time project billing allows the user to recognize revenue from charges that have been – or would be – created by selected time billing rules.

If you try to create the rule without a time billing rule, you will receive a ‘You must first create at least one Time billing rule’ message.

When you’ve created one or more time billing rules for a project, you can select the billing rule or rules which will create recognition transactions when the recognition is run.

This rule can be used when the time billing rule is not active. You may want to use this revenue recognition method, but you have a fixed fee billing agreement with your client. For this setup you would first create your Time billing rule(s), then your Time project billing revenue recognition rule(s), and finally you would deactivate the Time billing rule(s). Your recognition rule will still run as though any associated billing rule is not creating charges.