Automate Merging of Revenue Arrangements in NetSuite 2019.2
A common request when working with customer’s on their ARM Implementation “Advanced Revenue Management” is the merging of revenue arrangements. This feature has been available through the NetSuite User Interface “UI” for years now. With the release of 2019.2 the ability to automate the process through SuiteScript is now available.
In the new release, NetSuite has introduced a new SuiteScript 2.0 module. Using the underlying architecture of the N/task module to enable use of native revenue arrangement merging processes through the N/task/accounting/recognition module. This module allows you to merge specific revenue elements or entire revenue arrangements together via script.
Why Merge under ARM?
You may ask why would your business wants to automate the merging of Revenue Arrangement’s within NS’s ARM Module. Merging of Revenue Arrangements allow for combining multiple contracts or sources of revenue into the same arrangement/evaluation. Merging of arrangements will allow for the business to combine revenue sources. This combines multiple sources into one arrangement for compliance with accounting standards. Truth is that there are many reasons to merge arrangements and we have listed a few examples below:
- Changes to Original Contract. (Within the window of time for compliance with Accounting Standards i.e “ASC-606”)
- Change Order after project start. (That Constitutes revaluation of Revenue to Comply with Fair Value Revaluation|Carve Out Adjustments)
- Co-Terming of a subscription. (Example of this is an add-on/up-sell)
In the scheduled script sample below, we will be combining multiple Revenue Arrangement records prospectively. The script uses results from a saved search created through the User Interface.
This example uses the new API process to merge multiple Revenue arrangements, to allow for recalculation of fair value. A retrospective merge can be performed in this same way by changing two properties of your Task object. Set both the ‘task.mergeResidualRevenueAmounts’ and the ‘task.recalculateResidualFairValue’ properties to false, to perform a retrospective merge.
This feature is only available with the NetSuite 2019.2 release. For more information about this module, please visit SuiteAnswers (Answer Id: 87165) or the NetSuite Help Center.