Customer payments are the amounts received from customers in exchange for goods or services sold. To record the payments received that are not yet deposited to the bank, GL impact will show an increase in undeposited funds and a decrease in assets (account receivable). Here’s how to record payments that are deposited directly into the bank.… Continue reading PART 3.3 – Customer Transaction GL Impact
Month: March 2023
PART 3.1 – Common Sales Transaction GL Impact
Sales orders are non-posting transactions that record the items or services a business plans to sell to the customer. Order fulfillment is the process of fulfilling the sales order of a customer. Example: To fulfill the order, the business will have to pull out some items from its inventory, which will result in a decrease in assets… Continue reading PART 3.1 – Common Sales Transaction GL Impact
Check the Possibility of setting a class in the Sales Order in One Source.
This proposal will include the Check of the Possibility of setting a class in the Sales Order in One Source Requirement The client would like to update the existing class setting functionality of setting a class in the Sales Order in One Source Deliverables For achieving this requirement we’ve to update a file present in… Continue reading Check the Possibility of setting a class in the Sales Order in One Source.
PROPOSAL FOR ITEM FULFILLMENT EMAIL TEMPLATE FOR AU SUBSIDIARY
Proposal Summary This proposal covers the scope of Changing the UI of the email template for the item fulfilment (AU) as per the given requirement. Requirement Need to build an email template that is sent to the customer when an item fulfilment is created for AU subsidiary. We need to copy the template over from… Continue reading PROPOSAL FOR ITEM FULFILLMENT EMAIL TEMPLATE FOR AU SUBSIDIARY
PART 2.5 – GL Impact Account Setup of each transaction
Transactions Debited Account & Setup Credited Account & Setup Opportunities No GL Impact No GL Impact Estimates/ Quote Estimates – Non PostingDefault Account IncomeItem Record or Accounting Preferences Sales Order Sales Orders -Non PostingDefault Account IncomeItem Record or Accounting Preferences Item Fulfillment Cost of Goods SoldItem Record or Accounting Preferences AssetItem Record or Accounting Preferences… Continue reading PART 2.5 – GL Impact Account Setup of each transaction
Drop-down field detailed test cases.
Test Scenario 1: Functionality Verify that the dropdown is working as expected. Verify that the dropdown menu appears when the user clicks on the dropdown button. Verify that the dropdown menu disappears when the user clicks outside of the dropdown menu. Verify that the selected option is displayed in the dropdown button. Verify that the… Continue reading Drop-down field detailed test cases.
PART 2.4 – Managing account balances
Entering Opening Balances The opening balance for each general ledger account is the amount in the account when you first start using it in NetSuite. The date of the opening balance is included on each account record. After an opening balance has been entered for an account, that account can be used in NetSuite transactions. … Continue reading PART 2.4 – Managing account balances
PART 2.3 – Creating/ Editing an account
Go to Setup > Accounting > Manage G/L > Chart of Accounts > New. Enter general account information: If you are using account numbering, enter an account number. Account numbers can be alphanumeric with a maximum of 60 characters. Enter a name for this account. This name appears in the chart of accounts list, on transactions lists,… Continue reading PART 2.3 – Creating/ Editing an account
PART 2.2 – What naming conventions do you want to use for accounts?
When naming accounts in NetSuite, it’s important to follow best practices to ensure that the accounts are easily understood and consistent across the chart of accounts. Here are some naming conventions that you can follow (best practices) for accounts in NetSuite: Use descriptive names: Use standard account type names that clearly describe the account, such… Continue reading PART 2.2 – What naming conventions do you want to use for accounts?
PART 2.1 – How do you want to organize the hierarchy for each account type?
You can define a parent account on each account record. A parent account must have the same type as the subaccount. You cannot change the account type for an account that has associated posting and non-posting transactions such as sales order and revenue commit. The hierarchy for each account type in NetSuite can be organized… Continue reading PART 2.1 – How do you want to organize the hierarchy for each account type?