Kedalene · New Creation · Silver Medal

Hi All Is the Last Day of Period in Suite Answer 90772 referring to Manage Accounting Periods or Fixed Asset Depreciation History? Depreciation forecast dates may not always at the end of the month. Explain No Journals Created Upon Running Asset DepreciationShareLast Updated11/09/2023Reading Time1 minAnswer ID90772 Applies…

Hi Micah After User manually edited Depreciation month end date from 30 Apr 2024 to 26 Apr 2024 before Depreciation Run for Apr 2024, Asset Depreciation Posting Date still becomes 30 Apr 2024 Calendar month end date instead of 26 Apr 2024? Is this standard system behaviour when Proposed Depreciation month end date…

Hi Patrick The Original JE was Approved with a Tick. But not sure why the reversal JE is not auto Approved. We need to manually Edit and re Saved the Original JE then the reversal JE Approved is auto ticked. Kedalene Chong

Hi Patrick Finally I understand the earlier Reversal Date is the actually the Posting Date of the Original Journal Entry posted in earlier month. Kedalene Chong

Hi Patrick So the Currency Revaluaton and its auto reversal is always posted at the same time on 30 Apr for both 30 Apr and 1 May concurrently. Kedalene Chong

Hi Patrick I mean reversal of Currency Revaluation that is normally posting to non Eliminating Subsidary.

Hi Micah I received this updated video link. https://go.netsuite.com/webinar_japac_horiz_sl_yearendclose_od_0524_thankyou?elqTrackId=f8786d4e0cfb4aaeaa1e26ca08ecd466&elq=b926e8a7ac854071a60a7712cd51f7c3&elqaid=33856&elqat=1&elqCampaignId=12879

Hi Patrick Thanks for your Detail explanation. Does Inactive Subsidiary affect the auto reversal Revaluation on 1st day of the month if Subsidary is marked Inactive on last day of previous month? Kedalene Chong

Hi Clarisa I have voted for Enhancement Idea 500236 for better change and minimise Accounting support inquiries! I believe we are not the only one always receiving Customers questioning Cumulative Translation Adjustment difference every week! Our certified Accountant agree and I have submitted another Enhancement Idea to…

Hi Clarisa We are still waiting for feedback from our client.

Hi CDuf How do I check whether there are Open Multi Books?

Hi Tafara Thanks, will try when I have time.

Hi Micah We advise User to manually edit each proposed Depreciation History Posting Period Date before perform Depreciation Run. Fortunately there are less than 26 affected Assets.

Hi Clarisa I will check with our certified Accountant about this GAAP requirement. Is this Enhancement idea 500236 same as my idea? I am not sure what is transaction Period’s Historical Consolidated Exchange Rate and will it achieve Zero Cumulative Translation Adjustment difference? Kedalene Chong

Hi Patrick The Currency cannot be removed now in Chart of Account. Let me know if there is any way to remove the Currency fixed in Chart of Account. Its fine as its just for my testing only. Kedalene Chong

Hi Patrick JE-ELIM-0000053 is Manually posted by User thats why is not taking Conso Rate and able to Zero off the balance as at 30 Apr 2024 JE-ELIM-0000066 is system generated Elimination based on Conso rate of May 2020 on 31 May 2020 and was not able to Zero off the balance so User has to post manual JE-ELIM-0000071. So…

Hi Clarisa I have been studying hard about this system behaviour and noticed this translation difference can be avoided if the System is able to convert Foreign Currency (MYR or SGD) using the Original exchange rate from transaction posted to convert back to the Consolidating USD Currency when the target Subsidiary is also…

Hi Patrick I think I wrongly set a Foreign Currency in my Other Asset Eliminating GL Account. Those I did not set any Currency can Run Elimination successfully. Kedalene Chong

Hi Patrick Yes JE-ELIM-0000034 is system generated Eliminating Journal Entry. JE-ELIM-0000053 is not system generated. Kedalene Chong

Please see screenshots for evidence.

Hi Micah I figure out can manually edit each proposed Depreciation History Posting Period Date before perform Depreciation Run? Please help confirm this is a correct alternative workaround solution? Please advise is there any better workaround solution for all affected Assets?

Hi All I try follow Suite Answer 74273 but there is no data. Kedalene Chong

Hi Patrick This is a different scenario where there is only a single Debited Eliminating JE ACSB 0000001 posted to a single Subsidiary to this Non AR AP Contol G/L Account without a corresponding Credit to another Subsidiary. Kedalene

Hi Micah This is moving forward. It seems this Asset Proposal Depreciation Run Posting Dates are not consistent with their Accounting Periods which is not always last day of Calendar month. It could be Depreciation forecast could be was generated before the Accounting Period end dates are edited by User Apr 2024 till Mar…

Hi Patrick Eliminating G/L Account with single Debit Balance is not Zero after Elimination Run due to difference in monthly Conso Rate after the first Eliminating Journal Entry posted on 31 Jan 2020. Example below Eliminating JEs posted 31 Mar and 31 May 2020 are system generated during Elimination. Elim JE 71 is manually…

Hi Micah Our client is asking can the Depreciation Posting Date be changed in the Depreciation Proposal before Depreciation Run as their month end date is not last day of the Calendar month? Kedalene Chong

Hi Clarisa Our consultants have checked this Log System Notes on Update is checked in all the other Live Databases! The Field Help mentioned to choose this option for all Accounts? Is there an option to record System Notes about Creation and Updating when transactions are created as well as updated? Kedalene Chong

Hi Angela You are right! I am in Release Preview database. I unchecked back Log System Notes on Update only in Release Preview Database. But I now not sure why Log System Notes on Update is checked in the Live Database. Will the System Notes of Creator be restored back anytime we unchecked Log System Notes on Update?…

Hi Patrick Is there any better workaround solution than to always manually post Auto Reversing Journal Entry to Zero off those Eliminating Accounts that cannot be Zero based on difference in consolidated rate? Kedalene

Hi Clarisa Log System Notes on Update only was not checked previously, I just checked it.