what is netsuites "goods received not invoiced" gl account

AI generated answer (using internal Slack threads):

In NetSuite, the "Goods Received Not Invoiced" GL account is used to track the value of goods that have been received but not yet invoiced. When goods are received, the system debits the "Inventory" account and credits the "Goods Received Not Invoiced" account. When the bill is received, the system debits the "Goods Received Not Invoiced" account and credits the "Accounts Payable" account. This process ensures that the value of the goods is correctly reflected in the company's financial statements, even if the invoice for the goods has not yet been received. It is a standard accounting practice to track goods in this way, and it is a built-in feature of NetSuite's accounting system. ****** Disclaimer: This response was generated by an artificial intelligence assistant based on previous conversations from multiple Slack channels, and may contain inaccuracies or mistakes. ******