Author: Sandhya Babu

Intercompany Error: “The account (XXX) is not available in elimination subsidiary (XXX) required to run intercompany elimination. Please change the account record to include the elimination subsidiary”

When running the month end elimination process, NetSuite will show the error “The account (XXX) is not available in elimination subsidiary (XXX) required to run intercompany elimination. Please change the account record to include the elimination subsidiary”    The user cannot proceed posting their Intercompany Elimination due to this error.    Check the following on… Continue reading Intercompany Error: “The account (XXX) is not available in elimination subsidiary (XXX) required to run intercompany elimination. Please change the account record to include the elimination subsidiary”

Editing Intercompany Elimination Journal

We can edit automated intercompany journal entry. But the only field that we can edit using a standard journal entry form is the Memo field. We can only edit the original automated intercompany elimination journal, and not its reversing entry.   These intercompany elimination journal entries are reversed on the next day, just like the entries… Continue reading Editing Intercompany Elimination Journal

Intercompany elimination reversal Journals are not created

In the “Eliminate intercompany transactions” task of period close checklist, the button “Mark Task Complete” is hit before the Submission Status is set to Complete. It resulted to “Intercompany elimination reversal Journals” not being created(incomplete Intercompany Elimination Journal Entries). To verify this, reopen the period and check the Eliminate Intercompany Transactions Task by doing the… Continue reading Intercompany elimination reversal Journals are not created

CSV import error – Invalid account reference key ___ for subsidiary ___

While importing journal entries, the error “Invalid account reference key ___ for subsidiary ___” may sometimes occur. To resolve this error, Check the below conditions:  Verify the format of the Account field.  Ensure that the account is active in NetSuite.    To verify the format of the Account field in the CSV file by comparing with NetSuite: … Continue reading CSV import error – Invalid account reference key ___ for subsidiary ___

Default consolidated rates

Before calculating consolidated rates manually in NetSuite, the system will auto calculate the rates for future periods. These default rates on the Consolidated Exchange Rates page usually vary per Fiscal Year. This is because the rate is coming from the exchange rate of the date when the fiscal period is created.  To check the same,… Continue reading Default consolidated rates

Resolve Error: “The accounting period range This Period has not been defined. Please visit ‘Setup > Accounting > Manage Accounting Periods’ to define this period or set up your year.” on Financial Reports

An error “The accounting period range This Period has not been defined. Please visit ‘Setup > Accounting > Manage Accounting Periods’ to define this period or set up your year.” has occured when running financial reports.   To resolve the error, check and verify if all Calendar Year have been set up with complete accounting period via Setup >   Accounting > Manage Accounting… Continue reading Resolve Error: “The accounting period range This Period has not been defined. Please visit ‘Setup > Accounting > Manage Accounting Periods’ to define this period or set up your year.” on Financial Reports

Determination of transaction if Inter or Intra State for India Localization

The article includes how the system determines if the transaction is an inter or intra state for India Localization.     Scenarios for purchase transactions is added below:    Scenario 1  Vendor Subsidiary = Uttar Pradesh  Place of Supply = Uttar Pradesh  Billing Address = Uttar Pradesh    Results:  Transaction = Intra State  Tax =  CGST… Continue reading Determination of transaction if Inter or Intra State for India Localization

PO error – “Tax Calculation Plugin error due to missing billing address or state for this vendor record”

An error: “Tax Calculation Plugin error due to missing billing address or state for this vendor record.” Occured while saving the PO with tax calculations. Even if the tx setup had done correctly, this error occures in PO.  The reason why the error occurs is because the Short Name of the State has been modified.… Continue reading PO error – “Tax Calculation Plugin error due to missing billing address or state for this vendor record”