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Netsuite assigns $0 cost/value to returns from customers - don't tell the IRS!
Folks,
I believe I have identified a workflow that results in a relatively major violation of fundamental accounting principles.
Let's assume we have a widget, and we generally drop-ship it. Drop-shipments don't post to our inventory asset account or GOGS when they're fulfilled, so the G/L impact of the item fulfillment is zero.
As a consequence, NetSuite's concept of this item's average cost is undefined. There's an empty space in the average cost column of the inventory tab of the item record.
Customers are customers, ... every once in awhile they return something. We use NetSuite's RMA workflow religiously, generating the return authorization from the original sales order, receiving it into inventory, issuing a credit memo and then eventually a refund to the customer.