Hedging is a risk management strategy used by businesses and investors to protect themselves from potential losses caused by fluctuations in markets such as currency, commodities, interest rates, or stocks. Instead of aiming for higher profits, hedging focuses on minimizing uncertainty and safeguarding existing positions. For example, an Indian exporter who earns in U.S. dollars… Continue reading Hedging
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Understanding Preferred Stock Level and Safety Stock in NetSuite Inventory Management
Safety Stock Safety Stock is the buffer inventory kept to protect against uncertainties in demand or supply. It’s not meant to be sold immediately but to cover unexpected spikes in demand or delays in replenishment. It prevents stockouts during supplier delays or demand surges Maintains customer satisfaction and service levels In NetSuite, you can define… Continue reading Understanding Preferred Stock Level and Safety Stock in NetSuite Inventory Management
Removing CRLF (End of Line) Character
When working with templates, you may want to control the presence of end-of-line (CRLF) characters in your output. Typically, placing output tags on separate lines introduces line breaks. To remove the CRLF character at the end, use the FreeMarker tag <#rt> directly after your content: Template: #OUTPUT START # ABC #OUTPUT END # Output : With this adjustment, the… Continue reading Removing CRLF (End of Line) Character
Understanding Deferred Revenue: The Liability Behind the Advance
In the world of accrual accounting, few concepts are as crucial—and often misunderstood—as deferred revenue. Also known as unearned revenue, it represents a company’s obligation to deliver goods or services for which it has already received payment. Though it may feel like income, deferred revenue is not yet earned and treating it as such prematurely… Continue reading Understanding Deferred Revenue: The Liability Behind the Advance
NetSuite Work Order Management: Streamlining Manufacturing Processes
Introduction NetSuite Work Order Management is a robust solution designed to enhance control, visibility, and efficiency in manufacturing processes. By seamlessly integrating production workflows with financials, inventory, and order management, it empowers businesses to optimize assembly item production, manage complex bill of materials (BOM), and streamline operations across discrete and batch manufacturing environments. This article… Continue reading NetSuite Work Order Management: Streamlining Manufacturing Processes
standard numbering for the chart of accounts
Ensure the ‘Use Account Numbers‘ preference is enabled. This will automatically associate four-digit account numbers with existing accounts. (Go to Setup > Accounting > Accounting Preferences > General > Use Account Numbers box) Assign account numbers that are alphanumeric, with a maximum of 60 characters. The first digit should be any number from 1 to 8,… Continue reading standard numbering for the chart of accounts
RATIO_TO_REPORT() OVER () —- % of Total Function alternative
A workaround for this scenario is to use the RATIO_TO_REPORT() OVER () formula in the Formula column, and then select one of the Round functions from the Function drop down menu. The steps below show how to create a Transaction Saved Search to show the total sales per customer and the percentage related to the total sales of the company. The search results include… Continue reading RATIO_TO_REPORT() OVER () —- % of Total Function alternative
Accessing Record Data in a Suitelet Without Passing Parameters
When working with Suitelets in NetSuite, a common approach to pass data from a record to a Suitelet page is by sending it through URL parameters. However, there are situations where you might not want to expose data in the URL or you simply want a cleaner approach. Luckily, there’s a way to access record… Continue reading Accessing Record Data in a Suitelet Without Passing Parameters
Next Gen GST Reform
GST Reform The complicated GST slabs that gave headaches to small traders after the flagship tax overhaul came into effect, was cleaned up by the government today, leaving only two slabs — 5 and 18 per cent. The new structure will be implemented from September 22. For the common man, it means more money in… Continue reading Next Gen GST Reform
Custom Content Types (CCTs) in Site Management Tools (SMT)
Custom Content Types (CCTs) in Site Management Tools (SMT) are a powerful way to extend and personalize your SuiteCommerce site. They allow developers to create reusable, dynamic components that business users can easily manage through the SMT interface. Custom Content Types are modular pieces of content—like banners, product highlights, or interactive widgets—that can be… Continue reading Custom Content Types (CCTs) in Site Management Tools (SMT)