You want to review month over month movement of your Balance Sheet.  You will notice in order to see a month-by-month trend, you can add the Accounting Period on the columns, but it shows all the historical periods.  Are there times you would like a quick view of the Balance Sheet for recent periods.  Your options could be running it for all periods and deleting the columns you don’t need in excel or manually set the periods using custom periods.  The process below will help you run a dynamic balance sheet by month for the last 3 periods by changing the date on the Reports Page without having to go back to the customization page.  

Tags: NetSuite, Reporting, NetSuite How To's, Accounting, NetSuite Tips, Trend, Balance Sheet, Statement

What are Vendor Prepayments? When Vendor requests a deposit or payment before a Purchase Order is approved or before a Vendor Bill is issued, you can record this payment as a Vendor Prepayment in NetSuite.  

Tags: NetSuite, NetSuite How To's, Accounting, NetSuite Tips, Financial, Transactions, Vendor, Vendor Payments, Bills, Bill Payment

Have you ever wondered if there was an easier way to get a detail report of Undeposited Funds for a previous Date?  If you have a lot of transactions that flow in and out of this account, it can be a daunting task if you don’t reconcile this right after month-end close or even if there happened to be back-dated transactions after you month-end bank reconciliation.   The following search will help you download a saved search report to solve that issue. 

Tags: NetSuite, Reporting, NetSuite How To's, Accounting, NetSuite Tips, Financial, Bank Reconciliation, Bank Account, Saved Search, Transactions, Undeposited Funds

What is Segmentation in Netsuite? Segmentation or classification are ways to categorize entity (Vendor, Customer, Item) records and transactions amounts in NetSuite.  For instance, you may want to see your Income Statement separated out by Location; Location will be a classification field on your transactions.  There is native reporting function that will automatically break up your Financial Statements in segmentations.  

Tags: NetSuite, Reporting, NetSuite How To's, Accounting, NetSuite Tips, Segmentation, Financial, Transactions, Classification, Income Statement, Journal Entry, Trial Balances, Reclass

Have you ever noticed that your Balanced Sheet and Income Statement have different month end balances?

Tags: NetSuite, Accounting, Accounting Periods, Saved Search, Transactions, Date Mismatch

So you are getting ready to implement the Fixed Asset Management (FAM) module in NetSuite. After configurations and set up, you are ready to load your assets. Looking at the Asset Record, you realize there are some additional fields you want to add or some existing fields you want to move around. Below is a quick How To on customizing the Asset Record entry form to best suit your company’s needs.

Tags: NetSuite, NetSuite How To's, Accounting, NetSuite Tips, Financial, Customize, FAM, Fixed Asset, Asset Record

Congratulations! You are ready to go live with NetSuite! Before you start entering live transactions, the Opening Balance Sheet needs to be entered; this is your starting balance for your financial statements. Normally, this is a simple Journal Entry upload of your last closed period’s Balance Sheet. However, if you have Intercompany Accounts with balances, then a simple one step Journal Entry will not be enough. Intercompany Accounts require additional set up and separate Journal Entries for each customer or vendor.

Tags: NetSuite, NetSuite How To's, Accounting, NetSuite Tips, Financial, Intercompany Accounts, Go Live, Open Balance Upload, Open Transaction Upload

You might have received a notice last month regarding the news that JP Morgan Chase (JPMC) is moving away from Screen Scraping technology and will no longer support connections to their credential-based sites. Per notification, this change is part of JPMC’s transition to Open Banking technology which aims to improve security and ensure smooth bank feeds connection. If you are using the NetSuite Bank Feeds SuiteApp which may be importing data from the JP Morgan Chase & Co. (JPMC) financial institution, you might have encountered the bank data import errors on or after April 21, 2022.

Tags: NetSuite, Reporting, NetSuite How To's, Accounting, NetSuite Tips, Financial, Bank Reconciliation, Bank Account, data, Excel, Bank Statements

You find yourself working with columns and columns of data for a client. In this particular scenario, you need to find a combination of transactions that total a certain amount. As you can imagine, this can be endless amounts of combinations to iterate through. There is a data trick using an Excel add-in called Solver. Here’s how it works...

Tags: NetSuite, NetSuite How To's, NetSuite Tips, data, Calculate Total, Excel

What is Integration Governance? Integration Governance helps manage the multiple 3^rd party integration calls or internal script requests. It is very likely you may run into a concurrency issue if your NetSuite environment is heavily customized with scripts, have several API or EDI connections such as marketplace integrations (Amazon, eBay, HomeDepot, etc), and/or have 3PL connections. NetSuite limits the number of simultaneous calls into NetSuite at one time. When this happens, your call will fail and result in an error.

Tags: NetSuite, NetSuite How To's, NetSuite Tips, NetSuite Integrations, SuiteCloud, NetSuite Administrator, Concurrency, Performance, Connectors