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NetSuite has launched SuiteSuccess Wholesale Distribution Edition, in Japan. Please join us the webinar on February 12 that introduces NetSuite solution with demos and case studies for Wholesale Industry.
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Have questions or experiences to share? Post your Release 2026.1 questions and join discussions in the Release 2026.1 category.
Intelligent Payment Automation, powered by BILL (formerly Bill.com), lets you automate payments, manage vendor details, and bank account information within NetSuite.
The SuiteApp is available to organizations based in the U.S. with a valid U.S. address, or to global customers (except Canada, China, and Japan) with U.S. business subsidiaries. It only supports payments to vendors operating in the United States.
For more information, visit this thread.
Inventory Management System Used by NetSuite
Based on US GAAP, there are two inventory systems being utilized by companies: Perpetual and Periodic System.
Perpetual Inventory system keeps a running balance of inventory as time progresses. This means that Receipts of the Inventory will affect the Asset directly, and the Sales will affect the Cost Of Goods Sold Account directly. Under this system, no purchases account is maintained because inventory account is directly debited with each purchase of merchandise.
Periodic, on the other hand, requires physical count to determine the Cost of Goods sold as derived by the formula: (Beginning inventory + Purchase - Ending Inventory). This pertains that Cost of Goods sold will be derived at the end of the period and a Purchase type account will be maintained in the books.