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Amortization Schedule

Posted by Kevin Suh, NetSuite Administrator on Mar 7, 2024 11:00:00 AM
Kevin Suh, NetSuite Administrator


Ready to dive deeper into Amortization schedules? If you remember Amortization Feature from our previous blog, you might be curious about schedules. Here's the scoop: Once you set up the Amortization feature, schedules are automatically created whenever you buy something with linked amortization settings.

What's in a schedule?

Each schedule shows you exactly when (posting periods) and how much (amounts) to recognize expenses over time. These are created when you save the purchase, unless approvals are needed, then it happens after approval. And to delete a schedule, it’s simple. Just remove the linked line from the transaction.

Keep this in mind: The schedule itself doesn't directly affect your main financial records (general ledger). It just lays out the plan for recognizing expenses over time. The actual postings happen through separate journal entries. Additionally, Amortization schedules can't be created for bills linked to purchase orders with accruals, as those settings are disabled.

The Big Picture

Amortization schedules are key for figuring out the journal entries needed to record the impact of your purchases. And in NetSuite OneWorld, both schedules and resulting entries are specific to each subsidiary, meaning you can only access information for subsidiaries you have permission for.

You can also view detailed information for each amortization schedule.

To do so:

  1. Go to Lists > Accounting > Amortization Schedules.
  2. Click View next to a schedule.

When you view an individual schedule, this header information applies to all lines:

  • Name – Shows the name of the schedule. This is the same as the template name by default, but can be changed.
  • Created From – Shows the transaction type that the schedule was created from.

If you click this link to open the transaction, the line that generated the schedule is highlighted.

  • Template – Shows the name of the template that created the schedule.
  • Type – Identifies whether the schedule is Standard or Variable.
  • Method – Identifies the method used to set amortization terms for the expense.
  • Term Source – Shows how the recognition period is determined, from either the transaction date or the receipt date.
  • Start Date – Shows the date expense recognition begins for this schedule.

The starting period is specified by the recognition start date on bills. If no recognition start date is specified, the posting date of the bill is the recognition start date.

  • End Date – The end date entered for this schedule appears here.
  • Status – The amortization status can be one of the following:
    • Not Started – No expense has yet been recognized.
    • In Progress – Some expense has been recognized, but not all.
    • Complete – All expense is recognized for this schedule.
  • Period Offset – Specifies the number of periods to postpone the start of recognition for the entire schedule.
  • Start Offset – Specifies the number of periods to postpone the start of the recognition for a schedule.
  • Residual – Shows the amount or percentage to remain in the deferral account and not be amortized.
  • Initial Amount – The percentage or amount to be recognized in the first recognition period.
  • Remaining Deferred Balance – Shows the amount on the schedule which has not yet been recognized.
  • Total Amortized – Shows the amount on the schedule which has already been recognized to date.
  • Amount – Shows the total amortization amount for the schedule, including amounts already recognized and amounts yet to be recognized.
  • Eliminate – If this box is checked, the transaction from which the schedule was created is an intercompany transaction.

The following information shows for each line:

  • Account – The expense account that this line's expense amount is recognized to.

This defaults to show the item's expense account.

  • Posting Period – The period this line is scheduled to be recognized in.

If the Start Date of a schedule is in a closed period, the amount that would have been recognized in that period is posted to the oldest open period.

  • Is Recognized – A check box to specify that this amount has been recognized by a manual entry.

If this box is checked, the schedule is not included on the Create Amortization Journal Entry page for the certain period.

  • Date Executed – The date of the journal entry that posts the amount.
  • Journal – The number of the journal entry that posts the amount.

You can click this number to view the journal entry.

  • Amount – The amount to be recognized for this line of the schedule.
  • Total Amortized – Shows the cumulative amount already recognized on the schedule to date.

Variable schedules, which are linked to Projects, also show the following information:

  • Project – Shows a link to the associated project record.
  • % Amort. In Period – Shows the amount of the schedule that has been amortized in that period.
  • % Total Amort – Shows the percentage of the schedule already recognized for all periods.
Accessing Amortization Schedules

To access a specific amortization schedule, navigate to the purchase transaction that generated it. Within the transaction details, locate the Amort. Schedule column on either the Expenses or Items subtab. Clicking View next to the desired schedule will open it for review.

Important Note Regarding Schedule Deletion

Please be aware that amortization schedules cannot be deleted if associated journal entries have already been posted. In such instances, the linked journal entries must be deleted prior to deleting the amortization schedule.

For further inquiries regarding amortization schedules, please do not hesitate to contact Concentrus. Our team is available to discuss your specific needs.


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Concentrus is a leading provider of innovative cloud-based enterprise resource planning (ERP) solutions, including NetSuite. Our team of NetSuite experts offers a range of services, including NetSuite price analysis, NetSuite training, and NetSuite integration services.  

Our goal is to help businesses of all sizes maximize their investment in NetSuite by providing expert NetSuite cost optimization and implementation strategies. With years of experience as a NetSuite partner, our NetSuite administrators and NetSuite consultants are well equipped to help businesses of all sizes with their NetSuite consulting needs.  

Whether you're looking for a NetSuite consultant to help with your NetSuite implementation or you need ongoing NetSuite support, Concentrus is here to help. 


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Tags: NetSuite, ERP, Project Management, NetSuite Partner, NetSuite How To's, Accounting, NetSuite Tips, NetSuite Integrations, NetSuite Administrator, Acumatica ERP, Netsuite ERP, Netsuite Updates, Changing Schedules, NetSuite Features, NetSuite Support, Amortization

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