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SuiteWorld October 6 - 9, 2025: Agenda Builder is live!
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Read on for the latest updates including:
• Agenda Builder launch
• SuiteWorld On Air registration
• New NetSuite Prompt Studio Contest
• And more!
Check out this thread to learn more!
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Spots are limited! Register through your Agenda Builder and find SuiteGuru under Agenda Enhancements.
Don’t miss your chance to meet our SuiteGurus—NetSuite Support professionals and subject matter experts with extensive experience in select product areas, including OneWorld, Advanced & Basic Accounting, Supply Chain Management, Receivables & Payables, CRM, Account Administration, and the SuiteCloud Platform. Full Conference attendees can prebook exclusive 30-minute one-on-one sessions for your product questions.
Spots are limited! Register through your Agenda Builder and find SuiteGuru under Agenda Enhancements.
NSC | Inventory Worksheet Balance and Report Mismatch
Scenario
User receives inventory through accounts payable by entering items directly, without using purchase orders or three-way matching. Inventory adjustments are made via Inventory Worksheets with the Transaction Order set to "Last Transaction in Day." However, when AP enters invoices and updates the average cost, NetSuite revalues inventory and Cost of Goods Sold (COGS) in prior periods, which they want to avoid.
Solution
To prevent NetSuite from altering prior periods when entering invoices:
- Close Accounting Periods Monthly
- Currently, periods are only locked, not closed, allowing changes to old transactions. Closing periods monthly (Setup > Accounting > Manage Accounting Periods) will prevent backdated entries and modifications to past data.
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