what report shows the opening balances of item?
# ask-stanley-ai
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what report shows the opening balances of item?
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AI generated answer (using internal Slack threads):
The opening balances of items can be viewed in the Balance Sheet report in NetSuite. However, it's important to note that this report will also include transactions from the same date as the opening balances. If you want to exclude transactions made on the same date as the opening balances, you might need to use the closing amounts from the previous day. When migrating from another ERP system and importing opening balances, it's common to import the closing balances from the previous system to the last day of the previous period. This way, the opening balances for the new fiscal year in NetSuite will not include transactions from the same date. If your fiscal year starts on July 1st and you've imported balances from a previous system, you might not have data available for June 30th. In such cases, you could consider setting up an "open balance" account specifically for this purpose. Remember, the opening balance account will be the same as the account that will have transactions. For example, the cash account will have an opening balance and will change daily based on transactions. ****** 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: 0.844647229
Slack thread 2: here (available only if the original thread was posted in the last 90 days)
Similarity score: 0.836299837
Slack thread 3: here (available only if the original thread was posted in the last 90 days)
Similarity score: 0.832195878
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