Navigate to Accounting Preferences Go to Setup > Accounting > Accounting Preferences in your NetSuite dashboard. Access the Items & Transactions Subtab Once in the Accounting Preferences section, click on the Items & Transactions subtab to access the relevant options for WIP account settings. Configure the Default WIP Accounts Set the following accounts to ensure… Continue reading Setting WIP Accounts
Author: Swathymol O U
Entering an Inventory Adjustment Instead of an Assembly Unbuild
When we need to adjust the inventory without performing a full assembly unbuild, we can do so by following inventory adjustments: Navigate to Inventory Adjustment: Go to Transactions > Inventory > Adjust Inventory in your system. Select Assembly Item: In the Item field, choose the assembly item you want to adjust, such as Assembly Item… Continue reading Entering an Inventory Adjustment Instead of an Assembly Unbuild
Creating Costed Bill of Materials
The Costed Bill of Materials SuiteApp displays the total cost breakdown of an assembly item using the bill of materials revision, routing steps, and costing method. After installing the SuiteApp, Navigate to the Report: Go to Reports > Cost Accounting > Costed Bill of Materials in the NetSuite account. Select Subsidiary: From the Subsidiary dropdown… Continue reading Creating Costed Bill of Materials
Costed Bill of Materials
The Costed Bill of Materials SuiteApp provides a tool for accurately calculating the total cost of assembling a product. It takes into account various factors such as the bill of materials revision, manufacturing routing, and cost templates utilized. The calculation method involves aggregating the costs of all components involved in the assembly. This SuiteApp offers… Continue reading Costed Bill of Materials
Fetching Bank Register From Quick Books
To retrieve the bank register in QuickBooks, begin by logging into the QuickBooks account. Once logged in, navigate to the dashboard where the associated bank accounts are displayed. Select the desired bank account from the list. Within the account details, there is an option labeled “Account History.” This section provides access to the balance amount… Continue reading Fetching Bank Register From Quick Books
Balancing Bank Account Discrepancies During NetSuite Migration
During the reconciliation process of a bank account in NetSuite, a discrepancy was discovered when comparing the balance amounts between the migrated data and the client’s legacy system. This issue arose due to an open transaction migration that incorrectly recorded a payment of 2,500 GBP with a base amount of 14,000 AED. However, the balance… Continue reading Balancing Bank Account Discrepancies During NetSuite Migration
The Need for Alternative Methods in Approval Workflows
In the realm of business operations, approval workflows play a crucial role in ensuring that transactions adhere to established protocols and validations. These workflows are typically designed with strict guidelines tailored to the client’s specific requirements. However, despite the robustness of these workflows, there are instances where alternative methods of approval become necessary. One… Continue reading The Need for Alternative Methods in Approval Workflows
Addressing Discrepancies in Foreign Currency Balances During NetSuite Migration
During a review of the bank register following the migration of opening balances to NetSuite, discrepancies were discovered between the foreign currency amounts recorded in NetSuite and those in the client’s legacy system. Although reports in the subsidiary’s base currency accurately reflected the correct amount, there were notable differences in the foreign currency balances. … Continue reading Addressing Discrepancies in Foreign Currency Balances During NetSuite Migration
Key Considerations for Migrating Transactions from Zoho Books to NetSuite
When migrating transactions such as card payments, fund transfers, and deposits from Zoho Books to NetSuite, follow these steps to ensure a smooth process: Export Transactions: Unlike bills, invoices, journals, credit memos, and vendor credits, you cannot fetch a list of transactions like card payments, fund transfers, and deposits directly from Zoho Books. Export the… Continue reading Key Considerations for Migrating Transactions from Zoho Books to NetSuite
Creating a Class-wise Profit and Loss Report in QuickBooks
To generate a class-wise Profit and Loss report in QuickBooks, follow these steps: Access Reports: Navigate to the “Reports” section in QuickBooks. Customize the Report: Click the “Customise” button located at the top right corner of the screen. Set Up Columns: In the “Rows/Columns” section, find the “Columns” field. Select “Classes” from the drop-down menu.… Continue reading Creating a Class-wise Profit and Loss Report in QuickBooks