NetSuite is showing a message while enabling suitetax feature: “You cannot enable SuiteTax when you have an active SiteBuilder site that displays prices. For more information, search for the term ‘Known Limitations of SuiteTax’ in the Help.” To resolve this, Navigate to Setup > Company > Enable Features. Click Web Presence Web Site: Mark Website checkbox Note: This will automatically check Web Site. … Continue reading Notice: You Cannot Enable SuiteTax When You Have an Active Sitebuilder Site That Displays Prices. for More Information, Search for the Term ‘Known Limitations of SuiteTax’ in the Help When Enabling SuiteTax
Category: NS Financials
NS Financials
India Localization SuiteTax Engine Error in transactions: Please enter value(s) for: Tax Transaction From
Error message when creating credit memo in NetSuite account with suitetax: Please enter value(s) for: Tax Transaction From. It is a Transaction Body field locked in India Localization SuiteTax Engine Bundle.This field is used to indicate the start date of the Bills that belongs to the Challan record. This is shown in India Custom TDS Challan Voucher Form… Continue reading India Localization SuiteTax Engine Error in transactions: Please enter value(s) for: Tax Transaction From
Resolve Error: “UNEXPECTED_ERROR: [object Object]” from Generate Depreciation Schedule in Fixed Asset Management Module
Product: NetSuite 2023.1 SuiteApp/Bundle: Fixed Assets Management | Bundle ID: 464363 Scenario User Generate Depreciation Schedule for Fixed Asset Management bundle but resulted to the error above. This error is a Defect for the bundle addressed in Defect 623558. Solution Starting Fixed Asset Management 21.1, the map reduced scripts are now using SuiteScript 2.1. This brings… Continue reading Resolve Error: “UNEXPECTED_ERROR: [object Object]” from Generate Depreciation Schedule in Fixed Asset Management Module
CTA Balance Audit Report
Cumulative Translation Adjustment (CTA) is a special type of account that is required for consolidated balance sheets in NetSuite OneWorld accounts with multi-currency enabled. The CTA is used on the consolidated balance sheet to make it balance despite differing consolidated exchange rate types. The CTA Balance Audit report shows the contribution from individual accounts to… Continue reading CTA Balance Audit Report
Defining Foreign Currency Variance Posting Rules
You can define foreign currency variance posting rules on the Foreign Currency Variance Posting Rule page. Each rule specifies the account into which gain or loss resulting from foreign currency variances is posted. This account is the Destination Account. The rules consist of a set of source or revaluation transaction criteria that determine… Continue reading Defining Foreign Currency Variance Posting Rules
Realized gain or loss posting to separate accounts.
The client required us to check if it is possible to post Realized gain or loss to separate accounts. Now it is posted to default system generated account. They want to create new accounts and post gain to one account and loss to another account. Unrealized gain or loss is calculated for open transactions of… Continue reading Realized gain or loss posting to separate accounts.
Creation of Elimination Subsidiaries
You create elimination subsidiaries the way you create other subsidiaries except that you check the Elimination box on the subsidiary record. You can create an elimination subsidiary (as a child of the parent subsidiary) for any subsidiary that has child subsidiaries. Set the currency to the same currency as the base currency of the… Continue reading Creation of Elimination Subsidiaries
Intercompany Transactions and Consolidation
When you enter intercompany transactions and advanced intercompany journal entries to record business activity between subsidiaries, the system identifies transaction lines that require elimination. Intercompany sales and billing transaction lines are identified by default, based on the intercompany account with which the line is associated. An intercompany sales order is a nonposting transaction, a… Continue reading Intercompany Transactions and Consolidation
Relationship b/w subsidiaries and accounting books
Multibook accounting is free to use. Do not require any additional purchase. There might be need some additional licenses for several country-currency combination use cases. Initial combination was Canada-USD in primary book. In secondary book, Canada- CAD. This requires an additional license for Canada-CAD combination.