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

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

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

Have you noticed small increments of one or two pennies in your A/R Aging report? Do you have some bad debt that you need to write off your books due to unresponsive clients? The following process will walk you through how to enter a Journal and process the customer payment to remove these from your Accounts Receivable reporting.

Tags: NetSuite, Reporting, NetSuite How To's, Accounting, NetSuite Tips, Financial

Have you ever found yourself scrolling page after page after page to find the one transaction record you know is in Related Record or under the customer sales tab? You might benefit from adding filters to your view to easily reduce the transactions that populate and really dig into the data you’re searching for.

 

Tags: NetSuite, Reporting, NetSuite How To's, NetSuite Tips

Are you in need of identifying consumer buying patterns and want to quickly view which product is over or under performing? Merchandise Hierarchy helps achieve this plus provides a quick view of your products while allowing for category changes during different time periods. This can be a great tool if you are continuously launching new limited release collections or have multiple seasonal offerings.

Tags: NetSuite, Reporting, NetSuite How To's, Inventory Management, Product Review