what is the Income Summary Journals

AI generated answer (using internal Slack threads):

The Income Summary Journals refer to the financial records that summarize the income accounts for a specific period. These journals are typically used at the end of an accounting period to summarize revenues and expenses for the period. In NetSuite, you can create a saved search to show the Income account in a journal that has a revenue recognition schedule. However, it might only show the deferred revenue for all the lines in the saved search. NetSuite also allows you to create summary accounts for reporting purposes. These are non-posting, inactive parent accounts that have active child accounts. They appear with their children in the chart of accounts list. If you want to build an Income statement using custom fields instead of the Account native fields, you might need to use a third-party tool like Solution7, as NetSuite's native financial reporting tool might not support this functionality. ****** Disclaimer: This response was generated by an artificial intelligence assistant based on previous conversations from multiple Slack channels, and may contain inaccuracies or mistakes. ******