Summary Class / Departments: Hi is possible to setup the class Hierarchy so that if we define: • LEV 1: Product Type 1 (summary, can't be choosen on the item) • LEV 2: Product Type 2 (selectable value in the item) • LEV 3: Product category (selectable value in the item) Then in reporting we only see Product Type 1 as a summary of all childs? So that basically like for the accounts we decide what is a summary and what is selectable?

if you change the WIP account to the inventory, would the WIP items count in the inventory?

Hi and sorry for the "weird" question. I have a tech background so please forgive me. Are you able to define the elimination subsidiary important rules such as: • you need 1 elimination subsidiary, sybling of the subsidiaries you want to consolidate: • you need 1 elimination subsidiary for each layer you perform IC transactions... etc etc I would like to define a simple rule set to use when talking about this and when an expert is not available. Is it possible that you also briefly describe the Netsuite behavior? • You create IC transactions • Netsuite creates IC Journal entries or you can manually book an IC Journal entry selecting the lines you have to eliminate • Netsuite book the "void" of each subsidiary impact using the elimination subsidiary so that, if we look at a consolidated level: • 1 If we esclude he elimination subsidiary from the consolidated report then we are looking at the consolidated report without IC eliminations • 2 if we include the elimination subsidiary in the consolidated report then we are looking at the consolidated report with IC eliminations I know it's not possible to exclude / include elimination subsidiary in the consolidated report but I'm only trying to find an easy way to understand

Your two rules of thumb are pretty good starting points.

though, I'd indicate closer to the 2nd than the first.

as NS auto-posting is not necesarrily going to handle more than 1 elim for each layer.

My question is related to Intercompany too. Is there a way (i dont think so) to Post a vendor bill and mark that for elimination? Use case being one of the sub A is receiving vendor bill meant for Sub B, as Sub B doesnt have local bank acc, it asks for Sub A to make payment and then at the end of month it needs to be marked for elimination. How do we achieve this without passing ICJE? Is this possible?

You don't

Plus in that use case - your elimination would be unbalanced - bad ju-ju

ok thanks.

How successful to people find the auto matching functionality for bank recs? Running through, and I can't figure out why some lines do not match - example below. I would think this would get caught in the same amount, date within last 90 days rule, yet these had to be manually matched.

Those wouldn't get auto matched because the NS transaction is after the bank transaction

I've had clients add a rule to bypass that.

Essentially that 90 days rule is backwards facing - i.e. it assumes the bank knows about the transaction AFTER netsuite does, and says it must be within 90 days.

You can fix this by recording the transactions on the day that you clear the bank rather than dated 7 days later.

Perfect, figured there would be a way to set a rule, thanks as always @KevinJ of Kansas. Issue with changing the date is that payments come in from AP automation tool whenever they mark the bill 'paid'. They tell me they do not have the ability to update the date at this point

Then you probably need a rule that looks at it in reverse for up.to 14 days or something

i am not able to see the list of available credit memo's for the customer, when i click Edit on the payment record? Any configuration needs to be done for this?

@D17339 If i'm understanding your issue correctly, I believe I experienced the same thing. If you create a new payment, do you have the available credits? I don't think you can add credits once after you save a payment. Can you try?

That is correct -you cannot modify credit applications as part of an existing payment

you can only apply them when creating a new one

is it possible to post dollar and inventory portions of transactions across cost centers?

Maybe? Look into allocation schedules.

hi all! ok, i feel as if i’m going crazy. i’m trying to apply a customer credit to an existing customer payment record in netsuite. i see the subtab for

Credits Applied

when looking at the customer payment but when i edit the record the subtab disappears! i’m also able to see the Credits subtab on a new customer payment transaction. what am i missing here? thanks! 🙂

Not missing anything. It's a quirk of the system that you can only apply credits when the payment is initially entered, not on edit. No idea why. Likely something to do with the fact that the credits are really applying to your invoices and don't really have a true relationship with the payment I don't think. You'd either need to delete the payment and re-add it with the credits marked or unapply the payment from the invoices, go to the credit and apply the credit to one one of the invoices paid, and then adjust the payment amount and reapply.

Hi all, Our org is in the process of setting a child subsidiary within our NetSuite instance which is located in India. We have identified the accounts to be created for the child sub which will be available for both the parent and the child. before importing into the chart of accounts I’m trying to verify finance reporting for the currency types denominated for each entity. Does anyone here have insight?

Another bank rec question, a large amount of payments were processed in legacy ERP on day before go live, 3/31. Go live was 04/01, but those payments are now in the April bank statement. In a sense these payments are rolled up into the summary bank balance brought over in the TB, but how to go about matching these in the April bank rec? Is the method to parse out the summary JE and split into multiple lines? I have seen here excluding statement lines is not recommended since they never leave, so would be good to avoid excluding ~300 bank statement lines

so what I normally do is use the "write check transaction" post the line to a holding account - and then I do a reversal journal entry to clear it off. Then I do an "opening" bank rec, where I select all the GL history of the account plus the reversing entry and it should tie to the last known balance of the account, that I enter into the ending balance.

Is it possible to setup recurring invoices in AP for a vendor bill? Such as a rent payment? To be auto created each month similar to a memorized journal?

You can memorize Vendor BIlls