Hi,  Many of you ping me about learning more about Revenue Recognition in Netsuite. Adding some of the points to learn more in details.  1. Understand the Basics of Revenue Recognition • Accounting Principles: Get familiar with ASC 606 (IFRS 15) as NetSuite aligns with these standards. • Key Concepts: Understand terms like performance obligations, transaction price allocation, and revenue recognition schedules. 2. NetSuite Revenue Recognition Module Overview • Advanced Revenue Management (ARM): Focus on how ARM automates revenue allocation, forecasting, and recognition. • Revenue Elements: Learn how NetSuite breaks down revenue transactions. • Revenue Arrangements: Understand how arrangements group multiple elements. 3. Core Features • Revenue Recognition Schedules • Revenue Rules (event-based, time-based) • Revenue Plans • Contract Modifications and Adjustments • Revenue Forecasting 4. Practice Already discussed Implementation here. Click to open • Setup: Lear...

Hi All, Advanced Revenue Management (ARM), in NetSuite involves both configuration and process alignment with accounting standards like ASC 606 / IFRS 15 Step 1: Preparation & Prerequisites      1. Understand Accounting Requirements:           Identify performance obligations.             Determine revenue recognition rules (point-in-time, over time, etc.).             Map out revenue streams (subscriptions, services, products).      2. Ensure Required NetSuite Modules Are Enabled:           Advanced Revenue Management (ARM)             Revenue Recognition (Legacy) if still needed             Multi-Book Accounting (optional, if managing GAAP vs. IFRS) Step 2: Enable Revenue Recognition Features     1.  Navigate to:      ...

Chronotype is a person's natural tendency to sleep and wake at a specific time of day Your chronotype—your natural sleep-wake cycle—affects your energy levels throughout the day. By understanding your chronotype, you can optimize your schedule to enhance productivity, efficiency, and overall well-being. Types of Chronotypes and Best Time Management Strategies 1. Morning Types (“Larks”) • Peak Productivity: Early morning (6 AM - 12 PM) • Best Tasks: Deep work, strategic thinking, problem-solving • Energy Dip: Early afternoon (1 PM - 3 PM) → Best for light tasks or breaks • Evening Tasks: Avoid complex work late in the day 2. Evening Types (“Owls”) • Peak Productivity: Late afternoon to night (4 PM - 10 PM) • Best Tasks: Creative work, brainstorming, high-focus tasks • Energy Dip: Early morning → Best for routine or repetitive work • Morning Tasks: Avoid scheduling critical tasks too early 3. Intermediate Types (“Third Birds”) • Peak Productivity: Mid-morning to early afternoon (9 AM...

Hi All,  Adding some interview questions related to Warehouse Management in Netsuite. I will explain each question in coming days, feel free to send answers to us or explain under comment section with question number and Answer number.  1. What is Netsuite Warehouse Management System (WMS)? Explain its purpose and how it integrates with other Netsuite modules? Answer: NetSuite WMS is a module that helps businesses warehouse operations, including inventory management, order picking, packing, and shipping. It integrates seamlessly with other NetSuite modules like inventory management, order management, and financials, providing real-time visibility into warehouse activities. 2. What are the key features of Netsuite WMS? Discuss features like bin management, wave picking, cycle counting, and real time inventory tracking. Answer:  Key features include:   • Bin and lot management   • Real-time inventory tracking   • Wave picking and zone picking   • Mobi...

Hi All, Many people lost their job due to mass #layoff in companies. Although it is not related to their performance , it does increase competition due to demand and supply of job. Many people pinged me on Linkedin requesting common interview questions not related to any specific technology but in general. I hope these 25 questions will help you in preparing for interviews: 1. Tell me about yourself 2. What is your greatest strength? 3. What is your greatest weakness? 4. Why should we hire you? 5. Why do you want to work here? 6. Tell me about a time you showed leadership. 7. Tell me about a time you were successful on a team. 8. What would your co-workers say about you? 9. Why do you want to leave your current role? ( in case of any role change) 10. Describe Most challenging project. 11. Tell me about something you've accomplished that you are proud of. 12. Can you explain your employment gap? 13. What are your salary expectations? 14. What do you like to do outside of work? 1...

Hi All, In Coupa, there is a Payment Due Date field ( internal id net_due_date) which populate date based on  Invoice Date and Payment Term. This field is visible only on view mode or read only mode in Coupa.   If Payment Due Date field is showing none or blank, check if payment term is selected or not. If payment term is selected, please Days For Net Payment under Payment Term. To go to Payment Terms:    Go to Setup > Financial Setup > Payment Terms> Open Payment Terms causing issue > Net Payment Settings > Enter Days for Net Payment> Save Thanks Abhishek Tripathi     Download Netsuite Guru Android App Follow us on Linkedin Our FB Page

Hi All,   I got overwhelming response for post Can you answer these question . One of my friend Pankaj Ingale suggested 15 more questions related to Netsuite. Here are 15 more Netsuite interview questions: 1. What is Netsuite one World? 2. What is an Elimination subsidiary in Netsuite and what is the use of Elimination subsidiary? 3. What is Inter-company journal entry in NS? 4. What is the difference between Assembly items , Kit Package and Item Group? 5. What is record to report cycle in Netsuite? 6. What is the use of auto generated numbers in NS? 7. What is the GL impacts of following transactions      A- Vendor Bill      B - Invoice      C - Credit Memo 8. What is the use of custom segments in Netsuite? 9. What is blanket purchase order , purchase contract in Netsuite? 10. What is memorized transaction? 11. What is a Amortization? 12. Does account number mandatory on Charts of Accounts? 13. What is the other record f...