Tiru Chembeti · SME & NetSuite Support Community Guru · Bronze Crown

Hi @User_68KLQ, Use a Formula (Numeric) field to calculate how much was applied: Formula (Numeric): {amount} - {amountremaining} Label it something like "Total Applied Amount"

We are now closing today’s session. We hope to see you in the next #AskAnExpertLive! I hope the tips I provided will be helpful for you. 😊 Be sure to follow the AskAnExprtLive tag for updates. To help us improve this program, feel free to share your feedback with us. Have a great day, everyone!

Any other Questions?

Here you go — my final tips for today’s live session. 1. Uncovering the Hidden Features of NetSuite Accounting 2. Critical Customizations for Financial and Operational Reporting 3. Best Practices for Efficiently Closing Accounting Periods in NetSuite

@M.Lisa It will not impact the current financials. Be sure to create reversal journals for each year before importing the subsequent year’s balances to avoid duplicating account balances.

2nd Tip from my side about 1. Setting up KPI Scorecards 2. Keyboard Shortcuts and 3. User preferences you will want to adjust

Hi @Angela Bayliss That’s an excellent and important question, especially in the context of financial control, audit readiness, and compliance in Oracle NetSuite. I can say we have both Pros and cons. Some tools can automate journal entry creation, reclassifications, or accruals, helping to improve efficiency and accuracy.…

Hi @Jhoren Paul Desierto-Oracle The status "Approved (Overridden) by Accounting" appears when the expense report is approved outside of the normal supervisor approval chain, typically someone with a role such as Accountant, Controller, or Administrator approved the expense report directly — skipping the normal approval…

@Dan Garcia, Thank you for understanding the current enhancements of the system

@M.LisaYes, it's technically possible to allocate expenses across custom segments — but dynamic allocation based on revenue per custom segment requires either manual calculation, a SuiteScript automation, or use of statistical accounts with advanced features.

Hi @M.Lisa Yes, it’s possible. You can set up the prior year accounting periods and upload the year-on-year trial balance data as journal entries using CSV imports.

Thank you Robert Nedelkow-Oracle, Unfortunately, I won’t be able to attend SuiteWorld this year as it coincides with multiple project go-lives.

Hi @Dan Garcia Yes, it's under enhancement, Workaround: To ensure that lease interest is recorded in the first month, users can manually adjust the accounting by following this workaround: Create a Manual Journal Entry: Record the lease interest that should have been calculated for the first month. Lease Expense (Interest…

I'd like to share some helpful NetSuite tips specifically for basic accounting functions.

👋 Hello and welcome, everyone! We’re excited to have you join us for today’s "Ask an Expert Live" session, designed especially for our NetSuite users, " Basic Accounting"

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Hi @User_DU7YV Yes, you can. https://www.webassessor.com/wa.do?page=defaultLogin create new account and register for exam with applicable fees

Hi @Vajrala Madhu Reddy, You have to refer couple of reports to see the revenue details based on SO, RA and Rev Rec journals. 1. Revenue recognition forecast summary - run by monthly/accounting periods - you can see customer and RA wise, revenue recognized, planned, and forecast. 2. Billing and Revenue summary - you can…

Hello @Vajrala Madhu Reddy Generally, using ARM, based on the rev rec rules, when you approved the Sales order automatically system will automatically create the Revenue arrangements and elements. Element is the back-end transactions its shows all info about the revenue info. If you enabled the SuiteBilling feature, you…

Hello @K Mukesh. It's under enhancement if you upload the data using manual Import. Use the financial institution connectivity plugin "Bank feeds" SuiteApp. Check this SuiteApp-supported countries.

Hi @Elina Kourouzidou , No, there is no option to change the system default accounts. Create a Journal Entry to recognize a customer deposit with different accounts. both are under enhancements.

Thank you @Eklon Eleuterio

Hi @emcee_uk Check group by internal ID you can see the last update value

Hi @MaheboobVanteli You can access all custom list values from Customization - Lists, Records, & Fields - List

Hi @Elina Kourouzidou Yes, to see continually updated results for reminders, refresh the portlet periodically.

Hi @Eklon Eleuterio Try with Financial - Accounting period: Name

Yes. You need to purchase the Advanced Financial module from Oracle NetSuite

Hi @User_RWY1B Check your account license, Amortization is a paid license that comes under Add-On Module called "Advanced Financials". Navigate to Setup > Company > View Billing Information Under Add-On Modules tab, look for Advanced Financials. Y/N. If yes then you can see the Amortization under revenue accounting

Thank you @Mayumi Ciara Marie Cupcupin-Oracle

Hi @User_XXTWN When disposing asset via Write Off, the system will post the below journal only to adjust the Acc.dep balance: Cumulative Depreciation Account -Dr Write Off Account loss (gain) - Dr To Asset Account System will debit the Cumulative Depreciation of the asset and credit the Current Cost of the asset. It will…