how to add budget to summary account
# ask-stanley-ai
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how to add budget to summary account
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AI generated answer (using internal Slack threads):
To add a budget to a summary account in NetSuite, you would typically follow these steps: 1. Navigate to the chart of accounts and select the summary account you want to add a budget to. 2. Check the "summary" box on the account to ensure it can't be booked directly. 3. Create a budget for the child accounts under the summary account. However, it's important to note that summary accounts are primarily for reporting purposes and are non-posting, inactive parent accounts with active child accounts. They cannot have an opening balance and you cannot post additional transactions to them. They appear with their children in the chart of accounts list. Also, keep in mind that you can only have a summary account if all the accounts under it are of the same type. If you want to track Budgets vs Actuals, you might need to extract the financials to Excel and compare them there, or add them as two columns in your report. Please note that changing the classification of your accounts can be a complex process and might involve booking Journal Entries to move out of your class to a no class and into the new custom segment instead of trying to update historical transactions for anything that isn't in progress still (i.e. Pending Sales Orders or Purchase Orders). ****** Disclaimer: This response was generated by an artificial intelligence assistant based on previous conversations from multiple Slack channels, and may contain inaccuracies or mistakes. ******
Slack thread 1: here (available only if the original thread was posted in the last 90 days)
Similarity score: 0.822343946
Slack thread 2: here (available only if the original thread was posted in the last 90 days)
Similarity score: 0.814031243
Slack thread 3: here (available only if the original thread was posted in the last 90 days)
Similarity score: 0.805716932
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