Overcome NetSuite Account Type Restrictions (Part II)

This article is a continuation of last week’s topic. In last week’s post, we listed several transaction types with account type restrictions, here we will examine two use cases and show how the techniques listed last week can be used. Example #1: Corporate Credit card used to pay Vendor Bill A client of ours hasContinue reading “Overcome NetSuite Account Type Restrictions (Part II)”

Fixed Asset Management

This article will be helpful to users who would like to understand the underlying structure of NetSuite’s Fixed Asset Management (“FAM”) SuiteApp and its relationship with the General Ledger and with the standard transactions that affect Fixed Asset balances. FAM Structure The first key in understanding how FAM works is to remember that it isContinue reading “Fixed Asset Management”

Use NetSuite to ease your Accruals and Prepayments

NetSuite has some great tools to help finance teams with month-end close. One of my favorites is the Amortization tool which automates expense recognition over time when a company has paid for (or been billed for) an expense in advance, but the expense needs to be recognized slowly over time. However, like most out-of-box tools,Continue reading “Use NetSuite to ease your Accruals and Prepayments”