Is your company a SOX fan? Not the red or white type? If so, you need to take a serious look at NetSuite's revenue recognition features.

NetSuite is the first hosted application to bring revenue recognition management to mid-size companies. NetSuite makes it easier for companies to flexibly recognize revenue according to customer contracts and to maintain accounting control within GAAP and other reporting standards.

In specific businesses, such as service organizations, tracking deferred revenue is critical to accurate financial reporting. In NetSuite, you can create revenue recognition schedules for all your sales transactions. These schedules are extremely flexible and customizable, and can be assigned on a per-item basis.

A dashboard reminder notifies you when there is revenue due to be recognized, and allows you to review the data, then NetSuite automatically creates the appropriate journal entries. Forecast and deferred revenue reports are provided to give you visibility into all your deferred and recognized revenue.