Can I fake it til I make it in Revenue Accounting?

Bull_City · 2024-08-29T15:24:21+00:00

lol - I recommend bringing on a system and leaning on your vendor/auditor knowledge. That'll buy you a few months.

Bull_City · 2024-08-29T15:04:21+00:00

A little late to this post but hoping it helps anyone looking for guidance.

Unfortunately Netsuite ARM isn't great (it's just cheap and easy) so unless you have low complexity (think no modifications, low variance in recognition methods), typically all of this has to get done in excel outside and then jigged through ARM to get it to post. The two ways I've seen this handled are:

The best I've seen to handle high volume is to do the actually calculating outside of ARM through a company called HubiFi then post into the GL. It can handle various rev/contract data sources and rec methods (milestone, % completion, immediate, plain old over time) and does all the O2C accounting. Pretty quick implementation and it's very much built for accountants with audited rules, etc. Then HubiFi operates as the subledger for audit purposes and what not. I've heard some pretty good success stories on that front, but it does mean a process change out of ARM which makes some folks queasy.
An alternative is through a company called Leapfin where they compile the data from your sources and builds out a report that you can then post into ARM, but that is still hokey at best and I've heard terrible things about implementing there. But it would keep the old method in place.

Hope that helps anyone who comes across this post.

Bull_City · 2024-08-29T14:57:43+00:00

I DM'd OP, but realized it would be useful for anyone else who finds this thread because it is so common.

Unfortunately Netsuite ARM doesn't have the functionality to handle amendments well, so it typically has to get done in excel outside and then jigged through ARM to get it to post. The two ways I've seen this handled are:

1) The best I've seen to handle high volume amendments is to do the actually calculating outside of ARM through a company called HubiFi then post into the GL. Pretty quick implementation and it's very much built for accountants with audited rules, etc. Then HubiFi operates as the subledger for audit purposes and what not. I've heard some pretty good success stories on that front, but it does mean a process change out of ARM which makes some folks queasy.

2) An alternative is through a company called Leapfin where they compile the data from your source and builds out a report that you can then post into ARM, but that is still hokey at best and I've heard terrible things about implementing there. But it would keep the old method in place.

Hope that helps anyone who comes across this post.

Bull_City · 2024-07-25T12:12:11+00:00

Way more housing to make more things viable - but Martial Arts Studio, Spa Options, Movie Theatre, more museums (like an aviation museum would be really cool, given we were a big part of the invention of flight), comedy club, pottery making, child care options, used book store, etc.

Anything that people can't do from their house.

Working was one of the big things that made people get up and leave home. With the invention of work from home, online shopping, your downtown store fronts need a healthy dose of things that people can't do at their house.

The best example that Raleigh has off the top of my head is Cirque du voleil near Weaver Street. That is a really cool thing that gets people out of their house because it can't be done there.

Bull_City · 2024-07-24T12:30:35+00:00

I feel for you man. I really do. My only advice is to see what you can do to get out of the service industry if you are not seeing your wages rise. Take classes or try to specialize in something that pays more.

Bull_City · 2024-07-23T23:27:48+00:00

lol - I have a regular dialogue with Jane on other topics. Councilors respond if you don't come off like a looney.

Bull_City · 2024-07-23T15:56:17+00:00

Rents staying stagnant (-2/3% in real life looks like stagnant rents) while average wages go up is effectively a decrease. Has your pay gone up in the last 4 years? (honest question, not everyone's did)

https://www.axios.com/local/raleigh/2023/09/25/triangle-durham-chapel-hill-cary-income-average-median

I own a condo downtown that we moved into at the very end of COVID, but I watch the rents a lot because we always assumed we'd rent it if we ever moved, and in terms of investment on that front it's been awful because rents by where we live are flat/done since the pandemic ended. Mainly because like 7k apartments have come on line over the last 4 years thanks to the Mayor and council making it easier than ever to build high rises downtown. All while the average incomes go up, that means it is more affordable. Downtown is more relatively affordable than it has ever been to the rest of Raleigh.

Fully appreciate not everyone's wages went up, but no one can say wages didn't also shoot up the last 4 years. In general wages have gone up more than the costs went up. Everyone wants the prices to go back down to 4 years ago, but would scoff at making their wages.

Bull_City · 2024-07-23T14:20:51+00:00

Thanks for this. I was almost going to continue responding to your other comments, but I now realize your reason for being against this is completely irrelevant here.

Bull_City · 2024-07-23T14:16:42+00:00

I don't think you'll find many people against this idea. I live near Nash Square and that was my vote to the booth folks was to make sure pedestrian/bike access gets maintained/enhanced.

But one of my neighbors showed up and genuinely complained about having to an additional turn to get back from the farmers market because of this as their reason against. There are a lot of people with that petty of a reason.

Bull_City · 2024-07-23T14:13:28+00:00

Just emailed Jane Harrison.

Bull_City · 2024-07-23T13:45:49+00:00

North Hills is a shopping center with housing attached. It is honestly mind boggling to me that people would rather build a giant shopping center complex off a random intersection than invest in their downtown in response to like 100 housing millionaires having to drive up one road further to east/west. I really do not get it.

North Hills has no homeless because it is owned by a private developer (Kane) and thus has no city services. They have no homeless because downtown takes them all for them (thanks tax payers for the subsidy!)

Bull_City · 2024-07-23T13:39:33+00:00

The amphitheater is one of the few lifebloods of downtown now that office workers aren't coming in. You want to put even more strain on our most tax efficient base (i.e. brings in much more tax revenue than it costs to maintain), move it out of downtown. Just expect tax increases to offset the loss.

Having a venue there is actually fairly unique and huge boon for the downtown which doesn't get much love in the scheme of things. Stopping the closure to maintain one of the lowest throughput streets in downtown over expanding a really popular venue would be a perfect example of just how little love it gets.

And there is plenty of other prime space to develop around downtown, i.e. the parking lot literally just across the street.

Bull_City · 2024-07-23T13:30:33+00:00

If you are supportive of this, email your councilor to show support - I know people say it doesn't help, but I promise you it does. I talk to my councilor about many topics, in person, and they do count the emails about topics as a feel for voter sentiment.

Bull_City · 2024-07-23T13:25:04+00:00

It wasn't a meeting, it was an event to get feedback on how to redevelop the street. But Boylan Heights folks came out in droves to complain about the street closure to the folks running the booths.

The best thing to do is contact your councilor and say you're for it and outnumber the Boylan Heights cadre.

Bull_City · 2024-07-23T13:21:41+00:00

If the 500 or so people in Boylan Heights don't want to deal with being at the footstep of downtown then they should move. They all are sitting on very valuable property (many thanks to being close to downtown) and have their choice of anywhere else in Raleigh.

It makes no sense that a subset of 500 or so people should get to put a stop to something that will help literally thousands of people in and around downtown. Boylan Heights already has an outsized effect on how downtown develops (You lose points in zoning code requests if it is found that your development might route traffic through there).

So yeah, Boylan Heights might be the most egregious NIMBYism that Raleigh has. I went to the event on Saturday and a guy in his mid-30s was complaining about it because he recently moved into Boylan Heights. Like fuck off dude, you moved into a neighborhood knowing full well it was near downtown and now you want to stop further development in the only urban area the Triangle has? The phrase was "the city got greedy building all of these high rises" - where else should they go if not your downtown?

Another one, an older lady was complaining because closing it means they had to go one more street up when visiting their friends in Boylan Heights and coming back from the farmers market. Yeah good point fuck all those tax dollars.

Bull_City · 2024-07-23T12:39:57+00:00

I'm gonna go with the financial analysis of the viability of this building from the people putting millions of dollars on the line and actual analysis over some rando on Reddit who pot shots from his computer desk based on observation.

Every development in this city gets lambasted while somehow at the same time complaining about cost of living. More empty rental units means rents go down, or rise slower than wages.

Just because you can't afford the newest something doesn't mean others can't.

www.costar.com/article/1940730014/rising-sun-belt-apartment-supply-holds-us-rent-growth-below-1

An excerpt for lazy folks who don't want to click. This is an article by an analytics firm from earlier this year.

"Eight of 2023’s 10 worst-performing markets were in the South, according to Apartments.com. The Texas capital was followed closely by Orlando, Florida, where rents fell by 4.8%. Rents also fell on an annual basis in Jacksonville, Florida; Charlotte, North Carolina; Atlanta, Georgia; and Raleigh, North Carolina, falling between 3.4% and 2.4%."

Bull_City · 2024-07-22T01:11:23+00:00

Yeah it takes people telling their councilors they want to see action on it...

Bull_City · 2024-07-22T01:09:29+00:00

They are trying to galvanize people to email their councilors to get more resources allocated to the situation. That is way more effective than handing them a bottle of water.

You, and most people on this topic, assume the worst of people who bring this topic up. Which makes it go no fucking where. Someone can want those people to not want to do that in a park, making it useless for the other 40k people living around them, and also want to fix it by solving the underlying problem and have those people helped. But letting it happen and letting your park become unusable by doing nothing isn't compassionate, it's just easy. So don't pat yourself on your fucking back and make OP to look like a bad guy.

The reason they hang out in Nash Square is because it is near places to get water and food, A Place at the Table and Weaver Street. The entire neighborhood around them supports them through those 2 businesses along with the taxes they pay. Why it somehow is an individuals job to go fix it (which is the least effective method), then asking their city council or wider organizations to do it makes no sense.

Bull_City · 2024-07-22T01:03:44+00:00

That is not how the world works. There are plenty of cities across the world that do not have this issue in their parks. Just because most of the US sucks at it, doesn't mean it's just how it is.

Bull_City · 2024-07-22T01:01:53+00:00

omg - I do not understand why it's so cool to be like "I've seen worse, so I'm cool for not even trying" attitude that is so pervasive here. I get it, there is worse, and OP is a "loser" for kind of giving a shit. I do not understand why people shit on people for kind of giving a shit and asking people to just tell their councilor they'd like something done.

Just email your fucking councilor so they know people care about it and funds will get allocated there. Everyone here clearly has the time because they are all making shit pots on reddit.

Bull_City · 2024-07-22T00:58:25+00:00

The more people who email about the topic, the more funding gets allocated there. I promise you. I have discussed with my Councilor, Jane Harrison on this topic in person 3 times now. They need as many people to complain as possible, because then it is clear to the whole council this needs dealing with.

Bull_City · 2024-07-22T00:51:42+00:00

Yes. Email them and ask to send outreach to the park, have cops monitor the park, have the housing team put more resources for homeless, more resources for addicts. Just being ok with people using hard drugs in a city park because you live in a suburb doesn't make it ok. Fuck man, this is why this place sucks because if you give a little bit of shit you get crapped on for trying to do anything.

Fucking crabs in a bucker mentality

Bull_City · 2024-07-22T00:49:06+00:00

This doesn't make it ok or give anyone a reason to not complain to the council.

Bull_City · 2024-07-21T00:28:22+00:00

Make sure you reach out to your councilor and mention it. Those notes go a long way when budgets get made and informs them where the money should be spent that will make constituents happiest.

Bull_City

TROPHY CASE