Category: NetSuite ERP

NetSuite ERP

Configuring SFTP Connection for Auto Bank Statement Import

When using the Auto Bank Statement Import (ABSI) SuiteApp, an SFTP connection is required to connect NetSuite to your financial institution’s server. You can configure your SFTP connection in NetSuite by providing one or both information : Digital Certificate or Private Key Password If your financial institution requires two-factor authentication, be sure to provide both… Continue reading Configuring SFTP Connection for Auto Bank Statement Import

Tax rounding option in Indian accounts

Round-off is part of legal compliance in India Taxation as per Section 170 of the CGST Act and 288B of Income Tax Act, the correct method of rounding off is normal rounding. So, all the amounts of tax, interest, penalty, refund, or any other amount payable should be rounded off to the nearest rupee as… Continue reading Tax rounding option in Indian accounts

Change Subsidiary country

In NetSuite, once a subsidiary is created, its country field becomes non-editable due to the implications it has on tax nexus, currency, and legal reporting requirements. So when a subsidiary changes its physical location to a different country, you cannot simply update the country field—you must handle it through a structured process. As per SuiteAnswer… Continue reading Change Subsidiary country

identify Assets included in the depreciation from Depreciation Journal

The Depreciation Journals do not indicate the Assets that were depreciated for the period. The alternate solution is to create a Saved Search to show a list of these assets. Here’s how you can do it: (A) This is the Depreciation Journal What we need to to get the BG Summary records. a. Go to the Custom tab > BG Summary… Continue reading identify Assets included in the depreciation from Depreciation Journal

Modifying Cleared / Reconciled Transactions

If the transaction is still valid and only requires a modification (e.g., change in amount, payee, or memo), it is not recommended to void the transaction. Instead, the user should take the following steps: 1.Unmatch or remove the cleared status of the transaction. Make the necessary modifications to the transaction.Edit the check or payment as needed (e.g.,… Continue reading Modifying Cleared / Reconciled Transactions

Resolving Export Restrictions for Custom Roles in NetSuite – “Export Lists” Permission

Issue Overview A recurring issue encountered by users with custom roles in NetSuite involves the inability to export data from saved searches or reports. This limitation typically manifests when the “Export – Lists” permission is not assigned to the custom role, thereby restricting access to the “Export – Excel” and “Export – CSV” functionalities in… Continue reading Resolving Export Restrictions for Custom Roles in NetSuite – “Export Lists” Permission

General Accounting Related features

Accounting is the system of recording and summarizing business and financial transactions and analyzing, verifying, and reporting the results. Accounting has variously been defined as the keeping or preparation of the financial records of transactions of the firm, the analysis, verification and reporting of such records and “the principles and procedures of accounting” In NetSuite’s… Continue reading General Accounting Related features