330 results total
Browse practical NetSuite answers in Finance/accounting team, filtered by topic, audience, and difficulty.
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For web store orders, sales tax is determined by the customer's delivery address. Businesses must charge taxes only in states or provinces where they have a legal entity.…
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To prevent double-counting, NetSuite reports often exclude certain transaction types. These exclusions are configurable. For Sales Reports, if "Expand Account Lists" is not checked, transactions like Bills may…
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To consolidate multiple tax GL accounts for reporting in NetSuite, consider using a Parent-Child account structure. This allows individual tax accounts to roll up into a single parent…
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NetSuite provides functionality for consolidating customer transactions at a parent level. However, a native feature to consolidate vendor bills entered at child subsidiary levels for payment at a…
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NetSuite's decimal precision for currencies is generally hard-set based on the currency itself (e.g., USD uses two decimals, JPY uses zero). While the 'Number Format' preference controls display,…
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The 'Respect Discount Item Tax Preference' checkbox, found under Setup > Accounting > Setup Taxes, enables NetSuite to honor the 'Apply Before Sales Tax' setting on individual discount…
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NetSuite now offers native support for importing bank statements in OFX, QFX, and CSV formats, often reducing the need for external conversion. For specific conversion needs, commercial tools…
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A non-zero Intercompany Receivable/Payable balance in a closed period occurs when the Intercompany Elimination Journal Entry lacks its linked Reversal Journal Entry for the next month's first day.…
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To correct fixed asset errors, first delete associated posting journals and depreciation history records. Invalid assets can then be deleted. For valid assets, manually reset the Net Book…
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To correct an incorrect tax account GL impact in NetSuite, either re-save the transaction after updating its tax code (effective only for open accounting periods) or create a…
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When scripting searches for transaction 'amount' in NetSuite OneWorld, the system applies a currency conversion formula that defaults to the top-level parent subsidiary's value. To obtain the actual…
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To create a budget in a child subsidiary's currency in NetSuite, first create a non-global budget category via Setup > Accounting > Accounting Lists > New, ensuring the…
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