NetSuite’s standard Budgets page offers users the ability to categorize budgets using standard segments. However, there are scenarios where custom segments are necessary for more precise categorization.
Step 1: Create Custom Segments
- Navigate to Customization > Lists, Records, & Fields > Custom Segments > New.
- Check the “GL Impact” checkbox to indicate that the segment will affect general ledger (GL) impact.
- Note: Once saved, the GL Impact setting cannot be edited.
Step 2: Define Segment Values
- Click on the “Values” tab.
- Enter the desired values for the custom segment.
- Click “Add” to save each value.
Step 3: Specify Application & Sourcing
- Click on the “Application & Sourcing” tab.
- Navigate to the “Other Record Types” subtab.
- Check the “Budget Import” checkbox.
- Click “OK” on the pop-up message confirming the application of the custom segment to Journal Entries during Budget Import.
- Note: This ensures that the custom segment is applied when importing budgets via Journal Entries.
Step 4: Save Settings
- Once all configurations are complete, click “Save” to save the custom segment settings.
By following these steps, users can create and apply custom segments to budgets in NetSuite, allowing for more granular categorization and improved budget management. Custom segments provide flexibility and customization options tailored to the specific needs of the organization, ensuring accurate financial tracking and reporting.