Packing Cost Handling for Returned Items 1. Packing Cost on Invoice (Initial Sale): When an assembly item is sold, the packing charges are included in the invoice as a line item. These charges are considered income and are recorded as a credit in the ‘Packing Charges (Income)’ account. GL Impact: The packing charges (income) are… Continue reading Packing Cost Handling for Returned Items
Author: Jincy George
Zero Projected Value in Build/Unbuild Process
To address the issue of a zero projected value in your system, it seems there are several potential causes based on the analysis. Here’s a general approach to diagnosing and resolving the issue: Steps to Find the Root Cause: Check the Component Cost: The Projected Value in the Assembly Unbuild process is calculated based on… Continue reading Zero Projected Value in Build/Unbuild Process
Steps to Implement KPI Scorecard with Saved Search for Multiple Periods
Steps to Implement KPI Scorecard with Saved Search for Multiple Periods: Create a New Saved Search (for each KPI): Navigate to Lists > Search > Saved Searches > New. Select Transaction (or another appropriate record type) as the search type based on the KPI you are measuring (e.g., revenue, customer returns, etc.). Define Criteria: In… Continue reading Steps to Implement KPI Scorecard with Saved Search for Multiple Periods
TCS implementation (Configuration) steps for the India localization bundle
Here are the simplified TCS implementation (Configuration) steps for the India localization bundle: 1. Configure Customer Records for TCS Go to Lists > Relationships > Customers. Edit the customer record and check the TCS Eligibility box. Enter PAN (and optionally Aadhar Number and Tax Exemption Certificate). Save the customer record. 2. Configure Item Records for… Continue reading TCS implementation (Configuration) steps for the India localization bundle
Step-by-Step Guide to CSV Upload and Error Handling in NetSuite
In NetSuite, data can be imported using a CSV file, and if any errors occur during the import, the same file can be updated and re-imported using the same import process. Below are the steps to accomplish this. CSV Upload Process in NetSuite – Step-by-Step Guide Step 1: Navigate to the CSV Import Tool Go… Continue reading Step-by-Step Guide to CSV Upload and Error Handling in NetSuite
TCS Setup in NetSuite: Implementation for Items and Customers in Invoice Preparation
We are discussing the setup of TCS in NetSuite and its implementation for items and customers in invoice preparation. Below are the steps for the process. To set up Tax Collection at Source (TCS), configure the customer and item records that are eligible for TCS and create TCS tax rate rules. To complete TCS setup,… Continue reading TCS Setup in NetSuite: Implementation for Items and Customers in Invoice Preparation
TDS Calculation in NetSuite: Processing Customer-Side TDS and Sales Transactions
Currently, there is no alternative solution available for calculating TDS (Tax Deducted at Source) on customer payments, as it is being addressed under Enhancement #537790. However, in NetSuite, we can check the available options and process TDS on the customer side using the following steps. When creating a Sales Order (SO), after selecting the customer… Continue reading TDS Calculation in NetSuite: Processing Customer-Side TDS and Sales Transactions
Step-by-Step Guide to Setting Up and Managing Amortization in NetSuite
We are discussing the process of setting up and managing amortization in NetSuite. Step 1: Create an Amortization Template Navigate to Amortization Templates Go to Lists > Accounting > Amortization Templates > New. Define Template Details Name: Give a descriptive name. Type: Choose Expense or Revenue as applicable. Amortization Method: Choose Straight-Line or another method.… Continue reading Step-by-Step Guide to Setting Up and Managing Amortization in NetSuite