User encounters an error when attempting to eliminate Intercompany Transactions in the Period Closing task with the following message: “Invalid subsidiary reference key xx for accounting book xx”. One of the reasons is due to Roles & Permissions. The role should be associated with the Subsidiaries included in the Intercompany Transactions. Go to Setup > Users/Roles > Manage Roles (Administrator) to… Continue reading Resolve Error When Intercompany Transaction Elimination During Period Closing
Auto-bill Amazon orders in NetSuite
The Billing section in the Amazon-NetSuite Integration App consists of the following flows: NetSuite Order to NetSuite Cash Sale Add NetSuite Order to NetSuite Invoice Add These flows (for cash sale or invoice generation) have been designed to support the auto-billing feature for orders within NetSuite. The invoice and cash sale data flow enable you… Continue reading Auto-bill Amazon orders in NetSuite
Inventory Revaluation Error
Here’s how to resolve the NetSuite error: “Inventory Revaluation is no longer the first transaction in the item’s history.” This article covers how to resolve when you are creating a transaction for an item with standard costing in NetSuite and the error “Inventory Revaluation is no longer the first transaction in the item’s history” occurs.… Continue reading Inventory Revaluation Error
Error when printing customer statement
When Multiple Currency feature enabled, users cannot print using a custom Statement form on Standard Statement PDF/HTML Template, which is causing the error “Multi currency customer setting was detected. Please use Multi Currency Advanced Printing Template“. Solution User needs to either use the Standard Statement form or customize their custom Statement form. Use Standard Statement… Continue reading Error when printing customer statement
Oracle testing
Oracle testing, in the context of software testing, refers to a technique where the expected outcomes of a system or software under test are compared with the actual outcomes produced during testing. Specifications: This involves comparing the actual behavior of the software with the expected behavior specified in the requirements documentation or other formal specifications.… Continue reading Oracle testing
Disabling Advanced Revenue Management in NetSuite
Once the Advanced Revenue Management (Essentials) feature is enabled in NetSuite, it cannot be disabled through standard configuration. Attempting to disable it will result in the error: “You cannot disable the Advanced Revenue Management (Essentials) feature once you have enabled it.” This outlines two practical workarounds for organizations that do not require revenue deferral in… Continue reading Disabling Advanced Revenue Management in NetSuite
NetSuite AI Connector Service Overview
Today, people hear promises about AI solutions but struggle with how to use them or where to start. Traditional analytics cannot keep pace with the speed and complexity of modern operations, and businesses need smarter ways to find insights, spot trends, and showcase reports. The NetSuite AI Connector Service simplifies the adoption of AI by unifying core… Continue reading NetSuite AI Connector Service Overview
TDS rule for 194Q
Section 194Q – Purchase of Goods When configuring the TDS tax rule for Section 194Q, the threshold should be set at ₹50 lakh on a yearly basis, and the “Retrospective” option must be set to “NO” for vendors with PAN. This is because, under government regulations, the vendor is not liable to deduct TDS on… Continue reading TDS rule for 194Q
Customizing Internal IDs for Custom Records in NetSuite.
NetSuite provides a standard feature to customize the starting Internal ID for custom records. In some business requirements, you may need to use a custom internal sequence number starting from a specific number that aligns with your business process. In that case, you can set an initial number in the Initial Number field under the… Continue reading Customizing Internal IDs for Custom Records in NetSuite.
Return on Investment (ROI)
Return on Investment (ROI) is a financial metric used to assess the profitability and efficiency of an investment by comparing the return generated to its cost. It is calculated using the formula: “ROI”=”Net Profit” /”Cost of Investment” ×100. It is expressed as a percentage. ROI is widely used in business decisions, marketing campaigns, and project evaluations… Continue reading Return on Investment (ROI)