Hi all, I’m facing an issue when changing GL accounts on item records in NetSuite. Specifically: • We can update COGS and Asset accounts on items without any problem, and past transactions remain unchanged. • However, changing the Income Account on an item updates both past and future transactions, affecting historical data. I’m aware of Enhancement #48012, which aims to provide an option to prevent past transactions from updating when changing income accounts, but this feature isn’t available yet. Has anyone encountered this difference before or knows a workaround to update the Income Account without modifying past transactions? Thanks in advance!

AI generated answer (using internal Slack threads):

Based on the conversations, it appears that changing the Income Account on an item in NetSuite does indeed affect both past and future transactions. This is different from changing the COGS and Asset accounts, which only affect future transactions and leave past transactions unchanged. A common workaround suggested in the threads is to inactivate the current item and create a new one with the updated Income Account. This way, the new account will only be used for future transactions, while the historical transactions remain associated with the old account. However, this approach has the downside of splitting the transaction history across two item records. Another suggestion is to make the change right after closing a period, as the update only affects transactions in open periods. However, this might not be feasible depending on your accounting cycle and the timing of the account change. Lastly, it was suggested to use segments (like class) to represent different accounts, instead of changing the Income Account directly. This might be a more flexible approach, but it would require a rework of your item schema. ****** Disclaimer: This response was generated by an artificial intelligence assistant based on previous conversations from multiple Slack channels, and may contain inaccuracies or mistakes. ******