The Trial Balance is a report that displays the balance of each active account as of a specific date, typically the end of the month. The account balances are listed in both debit and credit columns. Accountants generate this report before creating financial statements to ensure that the debits and credits are balanced. Once the trial balance is in equilibrium, the financial statements can be prepared. To view the Trial Balance report, follow these steps: Navigate to Reports > Financial > Trial Balance.

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If you have worked with NetSuite item records, you might be familiar with the Locations subtab found under the Purchasing/Inventory tab. In general, this tab offers useful informational attributes about an item including inventory, costing, among others. However, depending on the features you have enabled in your environment or the needs of the people working with these item records, the amount of information displayed can equate to noise. To address these and other concerns, NetSuite has developed a feature named Advanced Item Location Configuration which we will review in this blog.

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If you maintain a perpetual inventory system, you understand the challenges involved with managing inventory commitment. Having a strong inventory commitment strategy can be an important key factor in maintaining customer retention and preventing lost sales due to inventory shortages or delayed ship times. Having software that supports your business needs is important, and you may be interested to know what NetSuite can offer out of the box.

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NetSuite allows you to import current sales tax codes for the states where you apply sales tax. Every month, NetSuite refreshes its database with the latest tax rates for all U.S. states. The Version field on the State Tax Import page shows the date when the tax rate change becomes effective. NetSuite sources these tax updates from Wolters Kluwer, and you can find more information on their website at wolterskluwer.com. 

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Bank reconciliation is a critical to financial management. NetSuite allows for efficiency in matching your bank transactions, allowing you to maintain accurate financial records seamlessly. NetSuite provides the ability to create custom reconciliation rules, which allows one to skip a lot of the manual process that comes in matching bank transactions.

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If your business is printing a lot of checks, the use of multiple printers may be common. There may be cases where the Check PDF format set up in NetSuite may work for one printer, but may not work for another. There may also be cases where you need to print checks using different stocks. In these scenarios, utilizing the print offset settings in your Set Preferences may offer a quicker solution compared to creating a separate PDF Layout from scratch.

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The Auto Assign UPC SuiteApp (Bundle ID: 316640) streamlines the process of assigning UPC codes to various item types within NetSuite, including inventory, assembly, inventory matrix, and assembly matrix items. Additionally, it provides functionality for creating, removing, and managing UPC codes. Through this SuiteApp, users can access a comprehensive list of all assigned UPC codes, along with their respective assignment and retirement dates, conveniently linked to the item records.

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A common problem is updating values in NetSuite and then needing those old values or trying to recall what was there before. NetSuite system notes is a great tool that tracks changes throughout the system on essentially every record type. This will be an example of how to use systems notes on an item saved search.

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During normal operations, it is common to have checks not deposited or maybe a duplicate check was issued.

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On August 2, 2024, UPS will be updating their authentication process. This will require NetSuite administrators to make several changes in the system to accommodate the authentication process change. Not implementing the changes may cause existing UPS integrations to fail on August 2. If you use the native NetSuite Shipping integration to quote shipping for sales orders during order entry or use the integration to generate shipping labels for UPS, this blog will help walk you through the necessary changes in NetSuite. Note: this change will not be required if you use Ship Central’s Ship Engine authentication for UPS.

Tags: NetSuite, ERP, Reporting, NetSuite Partner, NetSuite How To's, NetSuite Tips, Shipping, Integrations, UPS