Author: Divya Unnikrishnan

The Smart Count SuiteApp enables us to perform inventory counts in real-time, during business hours without having to stop our operations. When we start counting an item, the SuiteApp records the on-hand quantity of the item. The SuiteApp automatically notifies the counter (employee doing the count) for any on-hand changes during count, and suggests an… Continue reading Smart Count SuiteApp

India Localization SuiteTax Reports enables finance users and accountants to generate Tax Deduction at Source (TDS) and India Goods and Services Tax (GST) reports. Generate Tax Deduction at Source (TDS) Tax Reports Income Tax Form 26Q Income Tax Form 27Q Generate India Goods and Services Tax (GST) Reports GSTR1 GSTR3B Purchase Register The India Localization… Continue reading India localization SuiteTax Reports

Regarding the conversion of the consolidated financial reports to USD currency when the base currency of the parent subsidiary is INR, by standard NetSuite does not support such a functionality. The ability to allow the parent subsidiaries to have more than one reporting currency is currently logged as an enhancement in the voting stage [#122522].… Continue reading Consolidation of financial reports to non-parent base currency

The estimated extended cost in the Sales Order is based on the item location On hand, location total value and transaction quantity. By standard, when the item on-hand quantity in the line level location of the SO becomes 0, the estimated extended cost also becomes 0. Estimated Extended cost = Location Total Value/ Location On… Continue reading Estimated Extended cost in Sales order

For NetSuite OneWorld, select rate types for exchange rates used to value financials: Select a General Rate Type that is used to translate amounts for accounts in the income statement, balance sheet, and other general purposes. Select a Cash Flow Rate Type that is used to translate amounts for accounts in the cash flow statement. The Current rate type… Continue reading Exchange rates in Account configuration

Calculation of the average cost and total value in the item records: The average cost of a day is arrived by adding the cumulative total value of the previous day and the purchase receipts of the current day divided by the current on-hand quantity. The cumulative value = [PO rate*quantity for the day] – [IF… Continue reading Average Cost and Total Value in Item Records

When the ‘Use Account Numbers’ preference is enabled, four-digit account numbers are automatically associated with existing accounts as follows: 1xxx – Asset accounts 2xxx – Liability accounts 3xxx – Equity accounts 4xxx – Income accounts 5xxx – Cost of Goods Sold (COGS) accounts 6xxx – Expense accounts 8xxx – Other Income accounts Account numbers can… Continue reading NetSuite standard numbering for Chart of Accounts

The Prolecto Stock Ledger is a stock report in the Purchasing/Inventory subtab of the Item records. This report is a custom sublist originating from the ‘Prolecto Financial Saved Search Library’ bundle. The sublist’s results are derived from the search results of ‘Prolecto: Item Movement Stock (for sublist)’, also part of the same bundle. It was… Continue reading Prolecto Stock Ledger – Cumulative column data inaccuracies

Import fixed asset records:  Go to Setup > Import/Export > Import CSV Records.  In the Import Assistant – Scan & Upload CSV File screen, do the following:  From the Import Type list, select Custom Records.  From the Record Type list, select FAM Asset.  Select the asset CSV file.  Click Next.  In the Import Assistant –… Continue reading FAM – Import fixed asset records

NetSuite Fields  TAB  Notes  Mandatory [M] or Optional [O]      Examples  External ID  MAIN  Legacy unique asset number. This will be used as a reference for data importing but will not be shown on the asset record.   O      FAM001  Asset Name  MAIN  Name for the asset  M  Alpha Numeric  String Max Size… Continue reading FAM – Fixed asset import file headers