By standard, changing accounts in item records impacts all historical transactions, including those in closed periods. This is why the system shows the error: ‘The GL Impact of a transaction in a closed period cannot be changed’. In NetSuite, there is an accounting preference called ‘Do Not Update COGS and Asset Accounts on Existing Transactions… Continue reading Changing GL accounts in Item Records
Author: Renjima C S
Wave Record – Functionality
A wave transaction is used to consolidate orders for release to the warehouse. When you release a wave, the items from the order become available for picking and further fulfillment processing on a mobile device. Released waves display pick tickets and pick tasks generated from items in the orders, as well as status updates that… Continue reading Wave Record – Functionality
Item 360 Report – Permission
Navigate to the role that requires the permissions. In each relevant subtab, add the necessary permissions for the Item 360 report. Assign this role to the intended users. Once these steps are completed, users can log in with the customized role to access the Item 360 report. The permissions need to be added as follows:
Intercompany Inventory Transfer Orders
In NetSuite, intercompany inventory transfer orders can be classified into two types: arm’s length and non-arm’s length. These terms refer to the pricing used when transferring goods between subsidiaries within the same company. An arm’s length transfer order means the goods are transferred at a price that reflects fair market value, as if the two… Continue reading Intercompany Inventory Transfer Orders
Create an Income Statement per Customer
Navigate to Reports > New Report Select Transactions Metric: Select Amount Click Matrix Component: Select Account Field: Select Name or Name (GL-style) Column: Select Customer/Job Click More Customization Click Filters Click Account folder Click Account Type On the Filters, select all Income Statement type of accounts like COGS, Expense, Income, Other Expense, Other Income, etc Click Done Name: Enter Title of the report Click Save To access the report again, navigate to Reports > All Saved Reports
Expense Commitments and Budget Validation SuiteApp
The Expense Commitments and Budget Validation SuiteApp is a powerful tool in NetSuite that enhances financial control by enabling organizations to track and manage expense commitments against budgets. It allows users to validate purchase requests, purchase orders, and other expense transactions in real-time to ensure they align with available budgets. This SuiteApp provides an essential… Continue reading Expense Commitments and Budget Validation SuiteApp
Resolve error: “The Location XXX is not available in the elimination subsidiary XXX required to run intercompany elimination. Please change the location record to include the elimination subsidiary.”
This happens when the Location is set to mandatory on transaction. To resolve the error, make sure Location value is supplied and available to Elimination Subsidiary. User may create a Location via the following steps: Navigate to Setup > Company > Locations > New Name: Enter Name Subsidiary: Choose Elimination Subsidiary Click Save OR Navigate to Setup > Accounting > Accounting Preferences Unmark Make Locations Mandatory Click Save
Open Purchase Order Report > Show Open Amount based on Transaction Currency
Customize the Open Purchase Orders Report. On the Edit Columns tab> Add Fields section, expand the Open Purchase Orders group and add the Exchange Rate field. On the Edit Columns tab> Add Fields section, click on the Add Formula Field button. Click the pencil icon for the Formula column, and set the following values: Formula Type = Ratio x/y x = Current Amount y = Exchange Rate The Formula column would then show the… Continue reading Open Purchase Order Report > Show Open Amount based on Transaction Currency
Customize Purchase Order Report to Add Customer: Project Field
Navigate to Reports > Purchases > Purchase by Vendor Click Customize Click the Purchases folder Click the Entity (Line) sub folder Select Name Click Save or Preview
Resolve Scenario When Default Custom Transaction Line Field Values Are Not Saved with the Record When the Line Field Is Hidden on the Transaction Form
It is currently not possible to set field value on a sublist field that is hidden on the form. The field must be exposed in order to set a value. This limitation is tracked under Enhancement 147496. As a workaround, instead of disabling the Show option for hiding the field, clear its Label instead. Navigate to Customization > Forms > Transaction… Continue reading Resolve Scenario When Default Custom Transaction Line Field Values Are Not Saved with the Record When the Line Field Is Hidden on the Transaction Form