I'm working with my accounting team on putting in Invoices and payments from a legacy system into Netsuite. Are there any issues with putting in invoices and payments from the past? Even if its in a closed time period?

Kevin is correct but you could also create dummy invoices to reflect the past....simple records to hold the overdue balances rather than the items

Thanks for the reply, is this the same if its non inventory items? I noticed he mentioned inventory items

so what happens when you try to make it perfect is you end up creating the entire order fulfillment process. what you really want is a record to track open AR and payments right? Having done this myself would suggest making a dummy non inventory item coded to OPENING BALANCE. The way to do this is in the help documentation (I'd swear)

Apparently the auditing team really wants to have at least invoice and payment level. Originally the accounting team set it up as just journal entries and that wasn't good enough for the auditors. I'm a developer that's a lot more familiar with importing than the accounting team, so I'm helping them out

When I was in Accounting we had KPMG and they had no issue with Opening Balance detail...the details were in our old on premise solution which they had access to...you can do this but i would question what the auditors expect to get out of this..