Amortization Template After the Amortization feature has been enabled, you can create multiple templates to define expense deferral terms. These templates are used to generate amortization schedules that determine how costs from associated items and expenses should be posted. After templates have been created, you can associate them with items and expenses. ■ You… Continue reading Amortization Template
Category: NS Financials
NS Financials
Specifying Deferral Accounts for Amortization
Specifying Deferral Accounts for Amortization For an item, a deferral account must be specified either on the item record or on the associated template record. Deferral accounts can be specified in item records, amortization templates, and expense account records. Only the following types of items support amortization: ■ Non-inventory Item for Purchase/Resale ■ Other… Continue reading Specifying Deferral Accounts for Amortization
GL Impact not Showing from Item Receipt/Item Fulfillment
Scenario Create a Return Authorization from a Sales Order Click Receive on the Return Authorization created from the first step Show GL Impact from Item Receipt (or) Create a Sales Order Click the Fulfill button on a Sales order. Save the Item Fulfillment Show GL Impact from Item Fulfillment Actual result: No GL impact is shown Solution One of the most common reasons why a GL Impact will not show is due… Continue reading GL Impact not Showing from Item Receipt/Item Fulfillment
Resubmission of EFT (Electronic Fund Transfer) customer payments with Canceled, Failed or Unknown Error status
Whenever users re-submit EFT customer payment, the bank information recorded in the Electronic Fund Transfer tab of the customer record is used. If users updated the bank information prior to resubmission, NetSuite will send the new bank details to Coastal for processing.
Payment does not Display on Customer Refund
1. Go to the Payment 2. Click on Edit 3. On the Apply tab > unmark the checkbox on the Invoice 4. Save. 5. The payment should now appear on Transactions > Customers > Issue Customer Refund page to be refunded. Note: Customers usually refund overpayments. These overpayments are recorded in Netsuite as ‘Unapplied Payment’,… Continue reading Payment does not Display on Customer Refund
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
Ensuring Terms Populate in Standard Sales Order Form: Quick Guide
To ensure that the terms populate in a standard sales order form, follow these steps: Go to the Customer record. Navigate to the Financial tab. Check the Credit Cards sub-tab for provided credit card information and ensure that the Default Credit Card option is unchecked. Alternatively, you can use a Standard Sales Order – Invoice… Continue reading Ensuring Terms Populate in Standard Sales Order Form: Quick Guide
Top 6 Construction Accounting Errors
For growing firms trying to manage hectic schedules, it’s all too easy to make construction accounting mistakes, from inaccurately estimating jobs to signing contracts without adequate scrutiny. Here are six of the most common construction accounting errors. Disorganization: It’s not easy to run a well-organized construction accounting department, especially for small contractors. When you’re trying to… Continue reading Top 6 Construction Accounting Errors
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 ___
Customer name in purchase order
When the name of the customer is entered at the item level of the respective purchase order, it indicates that the item is purchased for the customer. In such instances, on the G/L impact page of the purchase order, the name of the associated entity will be the customer for whom the item is procured,… Continue reading Customer name in purchase order