One of the most under-utilized customization options available within NetSuite is custom records. In fact, the customization-related question that I have heard from users more than any other is “what do people use custom records for?” Although custom records are native NetSuite functionality, many seasoned users haven’t created any and can’t really envision any practical applications for them, especially since NetSuite has such a vast array of standard record types and fields already available. In this post, we’ll take a closer look at the basic functionality and structure of custom records, and we’ll review some real-world applications to help give you some inspiration for ways you can use custom records in your NetSuite environment.

The SuiteAnalytics Workbook tool is a user-friendly analytics tool that combines the abilities of a report, saved search, and Microsoft Excel all in one.  Most users find themselves compiling a saved search or report within NetSuite, and then exporting the information outside to compile pivot or chart information within Excel.

What is a Saved Search?

When many organizations make the switch to an ERP such as NetSuite, one of their most common pain points is having disparate systems that don’t talk to each other and consequently data that doesn’t sync.  Once on NetSuite all data is housed in one database and the opposite may happen, you have too much data and don’t know how to leverage it.  In comes NetSuite saved searches.  A NetSuite saved search is one of the most powerful tools NetSuite has to offer because you can use it for:

• Creating custom searches and display only what you need

• Adding shortcuts for searches to your dashboard
• Displaying custom KPI’s
• Using as a reference for running scripts and workflows
• Automating emailed results
• Many other options.

Let’s take it back a step and answer, what is a saved search? 

You can create child project records or subprojects in NetSuite. The concept is very similar to child customers.  Most customers that use this feature have projects with large scopes and want to break it down into manageable bites.  For instance, creating of a new product involves design, development, and marketing - all of which have their own subset of tasks. 

In previous posts, I’ve shown how simple, single-state workflows can be used to automate actions like sending emails and setting default field values.  In this post, we’ll build upon those basic skills and create a multi-state approval workflow that will guide a transaction through a series of review and approval steps.  While I’ll be using a purchase order in my demonstration, this same logic can be applied to practically any transaction type within NetSuite, you may need to add some custom fields if you are adding an approval process onto a record that doesn’t typically support approvals (such as a quote).

NetSuite has two different options for creating customized PDF templates – Transaction Form PDF Layouts and Advanced PDF/HTML Templates.  Transaction Form PDF Layouts allow users to add or remove fields and adjust field order and placement, however the general structure is somewhat basic and does not support HTML or the addition of formulas or other logic to the template.  In comparison, Advanced PDF/HTML Templates also allow for the addition, removal, and adjustment of fields, but with the added flexibility of enabling users to directly edit the HTML code of the template.  Since the HTML code is accessible, users have nearly complete control over the look and feel of each PDF and can build custom logic into the body of the template.  For organizations with stringent design requirements or that have complex business logic that drives how information is presented to their customers, Advanced PDF/HTML Templates are the way to go.

NetSuite natively supports direct shipping integration with but UPS and FedEx, which allows users to print shipping labels for a wide variety of service levels for each carrier from within the NetSuite UI.  To expand upon those capabilities, NetSuite also supports the integration of third-parting shipping platforms that connect to hundreds of other carriers, such as USPS, DHL, and even LTL and large freight transportation providers.  These integrations allow for shipment information to be passed back into NetSuite automatically, however the standard functionality that converts UPS and FedEx tracking numbers into links does not work with any other carriers.

When choosing a costing method in NetSuite, each has benefits and some "gotcha’s" that can surprise you if you are not fully informed.  Some of these show up due to multiple locations and related to specific activities such as: transfer orders, cost roll-ups, inventory adjustments, and supply methods. 

When choosing a costing method for your inventory it is very valuable to fully understand all of your options and the impact of such a decision. Things to consider when making this include the following:

With the new revenue recognition requirements implemented by FASB, many companies are looking for support on how to manage these requirements.  The changes to revenue recognition have an impact on both organizational business processes and configurations within the software that manages revenue.  The following article will illustrate considerations when managing the new requirements.  ASC 606 has listed 5 core principles to managing revenue: