Time entry is important for many different businesses, particularly project based businesses. For instance, service companies charge their clients by the hour. Therefore, tracking and billing the correct number of hours by project determines the profitability of a company. Ultimately, it helps companies track costs or billable time is the source of their revenue.
Tags: NetSuite, NetSuite How To's, NetSuite Tips, Project Time Entry, Troubleshoot, Errors, Time Entry, Billable Time
There are many reasons why a company may want to have dates and periods not match-up. One common reason may be related to the month-end close process. A company may want to enter the actual date (which is in a prior period) of a vendor bill, but since the previous period has already been closed, they will post to the current period for financial purposes. NetSuite can allowtransaction dates outside of the posting periods through the company’s Accounting Preferences. This can increase the risk of unwanted date/period mismatches as well as cause headaches for reconciliations between AR/AP Aging reports to the Balance Sheet. One way to monitor this is through a Saved Search.
Tags: NetSuite, Reporting, NetSuite How To's, Accounting, NetSuite Tips, Accounting Periods, Saved Search, Transactions, Date Mismatch
During your WMS PackStation implementation, you may have noticed your packages have autogenerated numbers. Generally, those autogenerated packages follow the numbering scheme of sales order # + some number. In most cases, the default numbering scheme will suffice for most customers. However, as with most settings in Netsuite, this can be customized based on business requirements.
Tags: NetSuite, Reporting, NetSuite How To's, Warehouse Management System (WMS), NetSuite Tips, WMS, Supply Chain Management, Netsuite WMS, Shipping, Pack Station, Carton
You might have encountered error/ notice: "There are no international customs documents to print for this fulfillment" when printing commercial invoice on Item Fulfillment. When shipping between US, Canada and Mexico, it is a requirement for NAFTA (North American Free Trade Agreement) Certificate of Origin to enter the criteria of the item being exported. What is NAFTA? And how does this impact you?
Tags: NetSuite, Reporting, NetSuite How To's, NetSuite Tips, Order Fulfillment, Shipping, NAFTA
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
