If a NetSuite Account has existing transactions, the historical Transactions Process must be run before activating Secondary accounting books. The various process methods involved in it are.
- Delete Transactions – This option removes the general ledger impact of historical transaction processing. This option is available for both pending and inactive subsidiaries in accounting books.
- Process Accounts to be Revalued – This option processes transactions on accounts where the option Revalue Open Balance for Foreign Currency Transactions is enabled and the effective period is different from the first period in the system.
- Process Extra Secondary Book Transactions – This option processes book-generic transactions that were created or updated in the primary book during the period of time in which historical transaction processing was running on the secondary accounting book. This option is available for both active and pending secondary accounting books
- Process Open Transactions – This option processes all open transactions prior to the secondary accounting book effective period.
- Process Transactions after Effective Date – This option enables you to process all transactions from the secondary book effective date onwards. Transactions are filtered based on the accounting period of the secondary accounting book. You can choose to overwrite previously processed historical transactions as part of this process.
- Process Transactions to be Eliminated – This option is available only if the Automated Intercompany Management feature is enabled and the effective period is different from the first period in the system