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Change from cash basis to accrual (+ WIP inventory)

edited Jan 3, 2020 12:26AM in Search / Reporting

Hi all! Hoping to get some tips on changing to accrual accounting and inventory management NetSuite practices. My questions/issues are as follows:

We manufacture equipment, with some jobs lasting multiple months.

1) Currently, our expenses for developing inventory hit the P&L as soon as they are posted in NetSuite. How can we change this such that these expenses hit the P&L when we record the sale?

2) Along the same lines, we would like to have these expenses increase the value of our inventory as they accrue, possibly through using WIP inventory (or any other recommendations you might have).

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