We'd love to hear from you! Provide  feedback  to earn a badge today. Take our quick survey


Check out Oracle NetSuite upcoming events and conferences here
Now is the time to ask your NetSuite-savvy friends and colleagues to join the NetSuite Support Community! Refer now! Click here to watch and learn more!
We’re ringing the bell so you know what that means… LAST CALL! This is your last week to register for #SuiteWorld at our early bird special rate and save $300. Join us for our biggest event of the year and learn more about how your business can get the most out of our system. https://lnkd.in/enaAr8p8
Release 2022.2 is Coming! – Get Ready with your Release Preview Account

Editing the Amounts and Accounting Periods in an Amortization Schedule

edited Jun 3, 2022 5:17PM in Accounting / ERP

Scenario: Prepaid Insurance was bought last January 1, 2022 and is expected to be amortized in 12 months, so the accounting team set the Amortization start date to 1/1/2022 and the end date to 12/31/2022.

Last May 2022, it was found out that the prepaid insurance will expire on June 30, 2022 instead of December 31, 2022, however, the periods from Jan to April 2022 was already closed and amortization journal entries was already posted:

User wants to amortize the remainder of the Prepaid Insurance for the last remaining months equally (May 2022 and June 2022), to be able to adjust the schedule the following settings should be satisfied:

1. The accounting preference Allow Users to Modify Amortization Schedule = True

Howdy, Stranger!

Log In

To view full details, sign in.


Don't have an account? Click here to get started!


This Week's Leaders

This Month's Leaders

All Time Leaders