Distinguish NetSuite Sales as “New” vs. “Existing”

This article is relevant if you are looking to distinguish sale transactions as “New” vs. “Existing”.

Background

Many times, organizations create incentive plans that distinguish sales as either “New” or “Existing”. ¬†The idea is that a New sale may receive a different (typically greater) credit than an existing sale. ¬†We have a number of clients with sales program¬†that think in these terms. ¬†However, this is not easy to do without running searches or reports as needed. ¬†Ideally, we need a way to record transactions with this information as it occurs such that any dependent function has the information at hand.

Distinguishing “New” vs. “Existing”

The first thing that must be done is to determine what we mean when we say “New” or “Existing”. ¬† ¬†Further, what structure is “New” vs. “Existing”. ¬†Consider the following:

  1. Customer: ¬†A customer is considered “New” if the most recent sale was within 12 months;¬†else it is “Existing”.
  2. Item: ¬†An item is considered a “New” sale if the the more recent sale was within 6 months; else item sales are “Existing”.
The point being is that we can describe What is “New” vs. “Existing” over some time horizon. ¬†That can vary for each organization.

How to Stamp Sales Transactions with “New” vs. “Existing” Information

To solve this challenge, we developed a number of custom fields, cross-reference tables, lookups and SuiteScripts to calculate and capture information as Sales Orders, Invoices and Cash Sales are being processed.

We call the “New” or “Existing” a Business Development Category as it drives revenue generation within the organization. With this information in hand, subsequent reports and commission structures can properly reference transaction body and lines to provide meaningful information.
Click on the screenshot images for different perspectives on information collected.

Get the SuiteBundle

The NetSuite platform is excellent for solving this kind of challenge. ¬†Because this concern is applicable to many situations, we packaged it as a bundle so it can be distributed. ¬†We are happy to give our clients this bundle help them solve this challenge. ¬†If you are looking to enhance you NetSuite account and you believe this bundle will help you, let’s have a conversation.

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Marty Zigman

Holding all three official certifications, Marty is Southern California's NetSuite expert and leads a team of senior professionals at Prolecto Resources, Inc. He is a former Deloitte & Touche CPA and has held CTO roles. For over 25 years, Marty has produced leadership in ERP, CRM and eCommerce business systems. Contact Marty to setup a conversation.

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| Tags: , , , , , | Category: Accounting, NetSuite, Reporting | 1 Comment

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