Add a Currency and Its Exchange Rate in NetSuite
Add a new currency in NetSuite, check the exchange rate it stores, let a vendor use it, and see a vendor bill pick up that rate.
NetSuite guides
Accounting & close in NetSuite
Check the accounts, period, and source records before saving. Follow the resulting entry through to its GL impact and confirm what still needs approval, posting, elimination, or closing.
Record an Advanced Intercompany Journal and Verify Elimination in NetSuite
Move an expense between subsidiaries, check the reciprocal balances, and verify the period-close elimination in consolidated reporting.
Allocate an unassigned expense between departments in NetSuite
Create a fixed allocation schedule that distributes an unassigned expense between departments and review the resulting journal history.
How to amortize a prepaid vendor bill in NetSuite
Apply an amortization template to a vendor bill expense line, check where the bill actually posts, and generate the journal that recognises one period.
How to assign a different fiscal calendar to a NetSuite subsidiary
Create a July fiscal calendar in NetSuite, assign it to one subsidiary while its tax calendar stays put, confirm the assignment, and generate the new calendar's accounting periods.
Balancing segments in NetSuite: balance transactions by fund
Set Fund as a balancing segment, enter a bill that balances overall but not by fund, run Balance Transactions by Segments, and read the intersegment journal and the balancing details on the bill.
Build a Compound Fixed Asset from Component Assets in NetSuite FAM
Group existing NetSuite FAM assets under one compound asset with Build Compound Asset, see why a component with a different Asset Type is refused, and check the rolled-up cost, the Components subtab and each component's Component Of.
Change a Fixed Asset's Useful Life in NetSuite FAM and Check the New Depreciation
Extend a depreciating fixed asset's lifetime in NetSuite FAM with Asset Revaluation, then check the catch-up journal, the asset's new values and the rebuilt depreciation schedule.
How to Change a Revenue Arrangement Date and Move Its Revenue Plan in NetSuite
A subscription starts a month late and nothing is recognized yet. Change the Date on the revenue arrangement, run Update Revenue Plans, and check that the same plan now starts a month later.
How to check a NetSuite voiding journal's insight against the voided bill payment
Generate Narrative Insights on a voiding journal, check each claim against the journal, then follow Void Of to the voided bill payment and the reopened bill.
Choose the Right FAM Report for Balances and Future Depreciation in NetSuite
Use Fixed Assets > Reports > Generate Report to answer two questions: Asset Summary for cost, depreciation and net book value by asset type, and Depreciation Schedule Period Depreciation for next quarter's monthly expense.
Connect a Bank Feed and Map It to GL Accounts in NetSuite
Connect a U.S. bank through the Bank Feeds SuiteApp with Connect New Institution, then link each connected bank account to one Bank or Credit Card GL account on the format profile's Account Linking subtab.
How to Create a Fair Value Formula and Use It in a Fair Value Price in NetSuite
Calculate a support item's fair value as 18% of the other items in its revenue allocation group. Build the fair value formula, attach it to a fair value price with a range check, then confirm the result on the revenue arrangement.
How to create a journal entry in NetSuite
Create a balanced NetSuite journal entry, review debit and credit accounts, and verify the saved period and approval requirements.
How to create an account-scoped bank matching rule in NetSuite
Create a bank matching rule for one credit-card account, compare transaction memos, add a fixed memo condition, and reopen the saved rule to verify it.
How to create an auto-create bank rule in NetSuite
Match one eligible credit-card transaction, inspect the generated bank rule, and review a later transaction before submission.
Create an SSH Key and Upload the Private Key to NetSuite for a Bank SFTP Connection
Generate an RSA key pair in PEM format with ssh-keygen on a Mac, send the public key to your bank, upload the private key under Setup > Company > Keys, and select it on the bank's SFTP format profile.
How to create an income subaccount in NetSuite
Check active and inactive accounts, enter an income subaccount under an existing parent, and review the account settings before saving.
How to create and verify a reversing journal entry in NetSuite
Enter a balanced accrual journal, set Reversal Date, and check the linked reversal and approval status in NetSuite.
Delete a Memorized Transaction Definition in NetSuite
Delete an obsolete memorized estimate definition in NetSuite: find it with Show Inactives, edit it, use Actions > Delete, and check that the estimate it generated is untouched.
Depreciate a Right-of-Use Lease Asset in NetSuite FAM and Compare It With Lease Interest
Run the first depreciation for a NetSuite FAM lease asset, check the journal it posts, and see how it differs from the lease interest journals on the same lease.
Diagnose a NetSuite journal blocked by a Netgain rule
Diagnose a balanced NetSuite journal blocked by a Netgain rule. Inspect its account filter, Class and Department requirements, and Prevent notice.
Dispose of a Fixed Asset in NetSuite FAM by Sale or Write-Off
Sell or write off a NetSuite FAM asset on Asset Sale/Disposal, check the Disposed status, disposal journal and sale invoice, and see when Delete Assets is the right tool instead.
How to Distribute a Vendor Bill Line Across Departments in NetSuite
Split one vendor bill expense line across departments with a Transaction Line Distribution template, override it for one bill, and check the journal it creates.
Enforce a daily expense report cap in NetSuite
Create a blocking USD 65 Meals policy, inspect a rejected USD 130 expense, and save valid meals on two actual dates.
How to enter a budget and run Budget vs. Actual in NetSuite
Enter a monthly budget in NetSuite with Fill and Distribute, save it, and run the Budget vs. Actual report to read Budget Amount, Amount Over Budget and % of Budget.
Enter a Due Memorized Journal Reminder in NetSuite
Enter a monthly memorized journal reminder from Enter Memorized Transactions, save it, and confirm the definition's Next Date and Number Remaining moved.
How to enter and verify general ledger opening balances in NetSuite
Enter a balanced opening worksheet for eligible accounts, find the generated journal, and check its GL Impact with illustrated steps.
How to Enter Opening A/R in NetSuite from Legacy Invoices
Load legacy open invoices into NetSuite through an Opening Balance clearing account, match A/R Aging to the legacy total, and reconcile A/R to the opening trial balance.
How to Enter Opening A/P Balances and Legacy Open Bills in NetSuite
Load legacy open vendor bills against an Opening Balance clearing account, match A/P Aging, then clear it against the opening trial balance with a zero bill payment.
Fixed vs dynamic allocation schedules in NetSuite
Read a fixed allocation schedule, compare it with a dynamic schedule weighted by a statistical account, then run one from the due reminder and check the journal it generates.
How to Put a Revenue Plan on Hold and Release It With a Catch-Up Period in NetSuite
Stop revenue recognition on one in-progress Advanced Revenue Management plan with Hold Revenue Recognition, then release it with a Catch Up Period so the held revenue is recognized in a later period. Here is the full loop, with the journal runs.
Import a Partly Depreciated Fixed Asset Into NetSuite FAM
Migrate an in-service fixed asset into NetSuite Fixed Assets Management with its prior depreciation: import the asset, import one history row for the depreciation to date, and precompute the remaining schedule.
How to match bank data to a vendor payment in NetSuite
Create a vendor bill and bill payment, import matching bank activity, and review the matched transaction in NetSuite.
How to Import New GL Accounts From a CSV in NetSuite
Add a bank account and an income account to the chart of accounts in one CSV import. Choose Accounting and Chart of Accounts, set Data Handling to Add, check the mapping, and confirm the new accounts.
Import separate NetSuite journals from one CSV
Import two balanced NetSuite journals from one CSV using repeated External IDs. Check mappings, import results, approved journals and report detail.
Intercompany netting in NetSuite: settle mutual balances between subsidiaries
Read the mutual balance on Balance Overview, net it in the Netting Workbench, approve the Netting Statement, and verify the four settlements and what remains open.
Map a Sales Order Line Field to Revenue Elements in NetSuite
Create a Revenue Recognition Field Map in NetSuite Advanced Revenue Management to copy a custom sales order line field to revenue elements, then run Update Revenue Arrangements and check the value on the new element.
How to Migrate Partially Amortized Prepaids into NetSuite
Move in-flight prepaid expenses into NetSuite at go-live with one journal that builds amortization schedules for only the remaining balance and months.
How to merge revenue arrangements for linked sources in NetSuite
Preview an ordinary revenue arrangement merge in NetSuite, check the allocation, and verify moved elements and retained source arrangements.
NetSuite period close checklist: lock, eliminate, close and reopen
Work a period's close checklist end to end: lock A/R, A/P and All across subsidiaries, run intercompany elimination and read its journal, close the period, then reopen it with a justification.
Pay Collected Sales Tax to the Tax Agency in NetSuite
Use Pay Sales Tax to pick the tax codes owed through a filing cutoff, mark them, and save one Sales Tax Payment for each tax agency.
How to Recalculate Consolidated Exchange Rates in NetSuite
Record the Current, Average and Historical rates for one subsidiary pair, run Calculate Consolidated Exchange Rates from the Period Close Checklist, then check the rates and System Notes to see what changed.
Recognize Revenue by Project Percent Complete with ARM in NetSuite
Record a project's cumulative percent complete, update the revenue plans, and create the revenue recognition journal in NetSuite Advanced Revenue Management. Follow one month from a 25% to a 60% project.
How to reconcile a credit card statement in NetSuite
Enter company card charges, then reconcile the card account to the issuer's statement on Reconcile Credit Card Statement until the Difference is zero, save, and check next month's starting balance.
How to record a bank deposit in NetSuite
Learn how to record a NetSuite bank deposit by selecting an eligible payment from Undeposited Funds, reviewing the deposit total, and saving the transaction.
Record headcount by department in a NetSuite statistical account
Create a units type and a statistical account for employee counts, then enter a statistical journal that records headcount by department so an allocation schedule can use it.
Refresh a NetSuite statistical account from a saved search
Point a statistical schedule at a grouped employee saved search, run it, and NetSuite posts headcount by department to a statistical account as a journal, with no hand-typed counts.
How to Reimburse a NetSuite Expense Report in a Foreign Currency
Add Euro to an employee's Expense Report Currencies, enter a report with Euro and pound receipts, and pay it with a Euro bill payment while the books stay in US Dollar.
Release Donor-Restricted Grant Revenue in NetSuite
Use the Revenue to Release from Use Restriction search to see how much a grant's expenses support, enter a two-line Release from Restriction from With to Without Donor Restrictions, and rerun the search to confirm nothing is left to release.
How to Renumber and Rename GL Accounts with a CSV Update in NetSuite
Give existing accounts new numbers, names, and External IDs in one pass. Prepare a CSV keyed by Internal ID, import it as Chart of Accounts with Data Handling set to Update, and verify the result.
How to revalue open foreign-currency bills at month end in NetSuite
Run Revalue Open Currency Balances for a period, subsidiary, and account type, then read each bill's unrealized gain or loss and the GL impact.
Review a NetSuite FAM proposal and generate its fixed asset
Review a NetSuite FAM asset proposal, generate the selected asset and trace its parent transaction. Check acquisition cost, quantity and depreciation defaults.
Run Fixed Asset Depreciation in NetSuite and Check the Journal
Run one month of FAM depreciation for an asset in NetSuite, follow the process stages, and confirm the net book value, posting reference, journal, and Asset Register.
Set Up a FAM Asset Type in NetSuite and Check What New Assets Inherit
Create a Fixed Assets Management asset type with its depreciation defaults and accounts, then create an asset and check which values it inherits from the type.
Set Up a Lease and Turn It into a Lease Asset in NetSuite
Generate a NetSuite FAM lease's payments, create the lease journal for the net present value, propose and generate the right-of-use asset, then record lease interest.
How to set up and close tax periods in NetSuite
Generate next year's tax reporting periods in NetSuite with Set Up Full Year, then close a filed VAT quarter for every subsidiary and check which periods closed with it.
How to set up early-payment discount terms in NetSuite
Create standard and date-driven payment terms in NetSuite, enter separate discount and due-date settings, and reopen both records to verify the saved values.
How to set up a full year of accounting periods in NetSuite
Generate a calendar-month fiscal year in NetSuite, inspect its quarter and month hierarchy, and compare it with a year created manually.
How to Set Up Percent-Complete Revenue Recognition for a Project in NetSuite
Set up an item, a project and a sales order so Advanced Revenue Management recognizes revenue by project percent complete. Here is the setup, through to an arrangement waiting for progress.
Split a Bulk Fixed Asset with Asset Split in NetSuite FAM
Split some units of a bulk NetSuite FAM asset into their own asset with Asset Split, then check the new asset, the original's reduced quantity and cost, and the split row in its depreciation history.
Split a NetSuite timesheet entry without adding hours
Split a saved NetSuite timesheet entry into two activities with separate memos. Preserve its project context and verify daily and weekly totals.
Submit a client-meal expense report in NetSuite
Submit a client-meal expense report from NetSuite Employee Center. Match the receipt, expense date, reimbursable amount, and saved approval status.
Transfer a Fixed Asset to Another Department in NetSuite FAM
Move a depreciating NetSuite FAM asset to a new department with Asset Transfer, then check the asset, the transfer rows in its depreciation history, the four-line transfer journal, and regenerate the deleted forecast.
Transfer Multiple Fixed Assets with a CSV File in NetSuite FAM
Move several NetSuite FAM assets to a new department in one upload with Asset Transfer > Import CSV: build the Asset and Department file, submit it, follow the CSV Asset Transfer process, then check each asset, its own journal and its history.
How to void a check with a reversing journal in NetSuite
Check the voiding preference, save the reversing journal, and verify the original check's accounting result.
Write Down a Fixed Asset with Asset Revaluation in NetSuite FAM
Record an impairment write-down on a depreciating fixed asset in NetSuite FAM with Asset Revaluation, then check the depreciation history, the journal, and the asset's new cost and net book value.