‘Update Revenue Details’ is the process by which Charge data is transformed or updated onto Revenue Details and their associated Revenue Orders.
The ‘Update Revenue Details’ process must be initiated in order for Charges to be properly staged and sent to NetSuite’s Advanced Revenue Management (ARM) module for revenue planning and recognition, as well as revenue reclassification.
Before initiating this process, ensure all prerequisites are met.
Note: Environments utilizing Multi-book when running Update Revenue Details, will see Detail records created for each Accounting Book. Revenue Details will not be created for any Accounting book marked ‘Adjustment Only’.
Choosing an ‘Update Revenue Details’ Frequency
To prepare for revenue recognition, it is recommended to run the ‘Update Revenue Details’ process (at a minimum) once a month, before month-end close, before running the ‘Update Revenue Arrangements’ process.
To determine the best frequency, keep the following in mind:
- New information added to Charges or Revenue Details are not automatically synced.
- The ‘Update Revenue Details’ process must be run after changes to the Charges.
- The ‘Update Revenue Details’ process may be scheduled through a ZAB Automation.
In high volume accounts, it is recommended to run ‘Update Revenue Details’ more frequently (i.e. once per week) so data can be processed in smaller and more manageable batches.