Tag: journal entry

Proposal For Journal Entry Import Customization

Proposal Summary  This document outlines the tailored requirements for TB data upload customization to create Journal Entries. The aim is to seamlessly integrate trial balance data from various accounting systems used by client subsidiaries into NetSuite. The solution involves importing  Trial Balance files, enabling direct use without manual data transformation. The proposal encompasses the required… Continue reading Proposal For Journal Entry Import Customization

Proposal for Implementing TDS On AR in NetSuite

Proposal Summary  This proposal covers the scope of Implementing TDS On AR in NetSuite.  Aim of proposal:     To provide a detailed plan for setting up and managing TDS on AR processes in NetSuite, to improve compliance, accuracy, and efficiency in your organization’s financial operations. Specifically, the project will involve setting up a TDS on AR Criteria… Continue reading Proposal for Implementing TDS On AR in NetSuite

Why the entity name is not available under Name Column When Entering a Journal Entry Line

Scenario When creating a Journal Entry, user can specify on the Name field the supplier or Customer at the line level. In some instance, a particular entity may not be listed or found from the Name drop-down menu.  Example: 1. Navigate to Transactions > Financial > Make Journal Entries 2. Subsidiary: Select Company A 3. Notice that Currency field is automatically set to USD (the primary currency) 4. Under Lines tab, add a row with these… Continue reading Why the entity name is not available under Name Column When Entering a Journal Entry Line

How to view open balance transactions in journal entries

User will be able to pull up the transactions thatwere created via Setup > Accounting> Enter Opening Balances by performing the following steps: 1.  Navigate to Lists > Search > SavedSearches > New > Transaction 2.  Enter the following filters under the Criteriatab > Standard sub tab: Type = Journal Memorized = is False Document Number = is not empty Memo = is Opening… Continue reading How to view open balance transactions in journal entries

To provide GL Impacts permission while restricting access to Journal Entries

We can add “Make Journal Entry” with view permission in the required role. For that, Setup>user/role> Manage roles > select required role > permissions. In Transactions subtab, add “Make Journal Entry”. However, the same permission is linked with Journal entry permission the role will get permission to view journal entries. To restrict access to journal… Continue reading To provide GL Impacts permission while restricting access to Journal Entries

Remove Journals from A/R Aging Reports

    1.    Navigate to Reports > Customer/Receivables > A/R Aging > Customize Summary.     2.       On the Filters tab >  Unpaid ReceivablesTransactions folder > Choose Transaction Type (with the key icon) > then in the Choose Filters at the right, set it to Not Equal To Journal.     3.      Save.

Unable to Edit and Save Journal Entry > error: The account (xxx) is an inactive account. Please correct the import file and resubmit.

The number that is displayed on the error message refers to the Internal Id of the Inactive account which is included in the Journal Entry. 1. Navigate to Home > Set Preferences 2. Under the General tab, set the Show Internal Ids box to True 3. Click Save 4. Go to your Chart of Accounts by navigating to Setup > Accounting > Chart of Accounts or Lists > Accounting > Accounts or Reports > Financial > Chart of Accounts 5. Look… Continue reading Unable to Edit and Save Journal Entry > error: The account (xxx) is an inactive account. Please correct the import file and resubmit.

Apply Journal Entry to an Open Bill as a Payment

User needs to apply a Journal Entry to an open Vendor Bill as a Payment SolutionCreate a Journal Entry 1.Navigate to Transactions > Financial > Make Journal Entries 2.Enter mandatory details 3.Click Lines tab a. Account: Select Accounts Payables -Debit: Enter Amount -Name: Select Vendor to ensure to link this Journal Entry to the Vendor… Continue reading Apply Journal Entry to an Open Bill as a Payment

Unapply the Payment applied to an Invoice and reverse the impact of the Payment record

User creates a payment record and applies it against an invoice but later on the payment becomes invalid. To resolve, user needs to follow below steps: I. Unapply the Payment from the Invoice record 1. Pull up the Payment record on edit mode. 2. Under Apply tab > Invoices sub tab, unmark the Apply box for the invoice it was applied to. 3. Hit Save button. II. Reverse the… Continue reading Unapply the Payment applied to an Invoice and reverse the impact of the Payment record