Mastering Construction Job Costing in Native NetSuite (No Third-Party Apps Needed!)

Discover how to leverage native NetSuite architecture to meet your construction project management and job costing needs without relying on third-party applications. In this brief overview, Rafael Orozco, a Solution Architect with NetSuite Alliance Partner Myers-Holum, demonstrates how NetSuite’s built-in functionality can streamline your construction financial workflows. What You'll Learn in This Video: -Work Breakdown Structure & Cost Codes: See how to segregate project budget versus actual values by user-defined cost codes directly on the project record. -Automated Revenue Recognition: Learn how actual vs. budgeted costs drive percent-cost-incurred calculations to automatically drive native NetSuite revenue recognition by accounting period. -Retainage & Holdbacks: See how to automatically calculate and post retainage (e.g., 10% holdbacks) to a configurable GL account, and seamlessly invoice for recovery amounts later. -Tracking Change Orders: Learn how standard records like sales orders can be tagged with activity codes so any new costs or revenue hit the right project budget automatically. -Schedule of Values & Progress Billing: Explore your reporting options, including saved searches, custom reports, and leveraging AI (via NetSuite’s native connection) to auto-populate an AIA-style continuation sheet. Everything shown in this video is accomplished using native NetSuite projects without any custom scripting or proprietary IP. Connect with Us: Ready to optimize your NetSuite implementation for construction? Contact the team at Myers-Holum today to discuss your specific business needs: https://myersholum.com/contact-us 👉 Don't forget to like, comment, and subscribe for more NetSuite tips and architectural insights!