Mastering Percent Complete Revenue in NetSuite OpenAir
Recently we released our latest video, Percent Complete Revenue Options. In this short video we discussed:
- The multiple percent complete revenue recognition rules in OpenAir
- How to customize calculations based on project structure and requirements
- The differences between hours-based and cost-based revenue recognition
- Options for generating revenue per user and controlling pivot dates
- Integrating OpenAir percent complete data with NetSuite for revenue recognition
If you haven't had the opportunity to watch, here is the link. In less than 15 minutes you can get the inside tips for percent complete revenue options in OpenAir.
Frequently Asked Questions
Can a % complete rule only apply to certain project phases/ tasks?
Yes, you have to structure your WBS by phase, then you can filter % complete recognition rules by phase.
Do you have to use planned hours in the standard % complete rule? Yes, you can set the denominator of the recognition rule to use budget hours.
What is the primary use case for the Incurred vs Forecast recognition rule?
There are 2 primary use cases: first is to base denominator on resource bookings. The second primary use case is to inject costs into the numerator and the denominator.
What if I want to use booking as the denominator but not use resource costs?
OpenAir provides up to 3 loaded costs. You can repurpose one of the costs and set it as $1. Then set the rule to use the $1 cost to calculate hours over hours calculation.
What if I need a custom % complete calculation to send to my finance system to calculate % complete revenue?
Top Step can script a custom % complete and store the value in a custom field on the project properties where it can be exported to the financial system.
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