Would someone be able to advise on how to automate grant accounting in NetSuite for a project?
The accounting entries would be as follows:
- Debit: Cash (Grant Funds Received)
- Credit: Deferred Income
Then, as the grant revenue is recognized:
- Debit: Deferred Income
- Credit: Other Income (Grant Revenue)
Is there a way to automate these transactions and the subsequent revenue recognition process within NetSuite?
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Larry Pool
Dallas TX
United States
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