Tag: Accounting period

How to create workflow approval for approval re-opened close period

NetSuite doesn’t support workflows directly tied to reopening or approving closed periods because managing accounting periods involves strict permissions and security protocols. However, here’s how you might approach creating a similar approval process: Steps to Set Up an Approval Process for Reopened Periods Custom Record for Approval TrackingCreate a custom record to log requests for reopening accounting… Continue reading How to create workflow approval for approval re-opened close period

Retrieve Accounting Period by Date

The Suitelet script is designed to retrieve the accounting period for a given date. It takes a specified date as input and searches for the corresponding accounting period within NetSuite.  /**  * @NApiVersion 2.x  * @NScriptType Suitelet  */ define([‘N/search’], function(search) {          function onRequest(context) {         try {  … Continue reading Retrieve Accounting Period by Date

Post Journal Entry to a Closed Period using Custom Role

Scenario User would like to record a journal entry using a custom role but not able to see options to select a closed period. Solution User may perform below steps to select a closed period in posting period. Using Administrator role, add permission for custom role. Go to Setup > User/Roles > Manage Roles Click Edit to Custom role Under Permissions tab, go… Continue reading Post Journal Entry to a Closed Period using Custom Role

Custom Role tagged to a subsidiary > Open Tax / Financial Report > An unexpected error has occurred or This Period is not defined for this fiscal calendar

Certain subsidiary is getting unexpected error whenpulling up financial reports: ·        User enabled Multiple Calendars under Setup > Company > Enable Features> Accounting tab ·        User created a new Fiscal Calendar under Setup > Accounting > FiscalCalendars ·        User assigned the Fiscal Calendar to a subsidiary ·        User restricted arole that has access to financial reports/tax reports to just that subsidiary ·        User logged inusing that role ·        User navigated to Reports > Financial and opened any Financial Report or Reports >VAT/GST > open any Tax Report ·        User got theunexpected error:… Continue reading Custom Role tagged to a subsidiary > Open Tax / Financial Report > An unexpected error has occurred or This Period is not defined for this fiscal calendar

Resolve Error: “The accounting period range This Period has not been defined. Please visit ‘Setup > Accounting > Manage Accounting Periods’ to define this period or set up your year.” on Financial Reports

An error “The accounting period range This Period has not been defined. Please visit ‘Setup > Accounting > Manage Accounting Periods’ to define this period or set up your year.” has occured when running financial reports.   To resolve the error, check and verify if all Calendar Year have been set up with complete accounting period via Setup >   Accounting > Manage Accounting… Continue reading Resolve Error: “The accounting period range This Period has not been defined. Please visit ‘Setup > Accounting > Manage Accounting Periods’ to define this period or set up your year.” on Financial Reports

“Year in Period Name” in Accounting Periods

The “Year in Period Name” field is a feature designed to offer flexibility in determining how fiscal periods are denoted, specifically regarding whether the starting or ending year is used in the period’s name. Let’s break down this concept with a simple example. Consider a fiscal year that commences in 2020 and concludes in 2021.… Continue reading “Year in Period Name” in Accounting Periods

Manage Accounting Periods – Month-end close checklist

Lock A/R To prevent A/R transactions in the period, you would need to click on the checklist of the Period and ‘go to the task’ Lock Accounting Period (A/R). There you would need to select all subsidiaries. And press’ submit’. The status now would change to: Lock A/P To prevent A/P transactions in the period,… Continue reading Manage Accounting Periods – Month-end close checklist