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NSC | Resolve “Illegal Year Format or Value” When Creating Accounting Periods Beyond 2050
A user is setting up Accounting Periods for future fiscal years and is able to create periods up to year 2050. However, when trying to create periods for 2051, NetSuite returns the following error: “Illegal year format or value. Examples: 1999, 2000, 2001, etc.” The user confirmed that the Set Up Full Year function worked…
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NSC | Saved Search > Accounting Period Close Task Item Type Shows Multiple Identical Time Stamps
Scenario: A user has encountered an issue while creating a saved search to retrieve dates for when the period was closed for various subsidiaries. Upon including the 'Close' task type, the search returns multiple results for the same period, each with three close statuses and identical date-time stamps. The user seeks an…
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NSC | Saved Search > Subsidiary's Lock Tasks Date
Scenario: User wants to create a saved search to obtain the dates related to 'A/R,' 'A/P,' and 'Lock All' tasks for each subsidiary in a period under the 'Manage Accounting Periods' page. Solution: 1. Navigate to Setup > Accounting > Manage Accounting Periods 2. Select the earliest Open Period 3. Click the Period Close…
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Difficulty in unlocking an accounting period in NetSuite after reopening the period
Hi everyone, I am attempting to modify Local GAAP adjustments (Secondary GL) for the period Dec 2021. Although I successfully reopened the period, I'm encountering an issue where certain tasks, such as Lock A/P, Local A/R, Local Payroll, Local All, Review Custom GL Plug, and Create Intercompany Adjustments, remain locked.…
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Reversal Journal posted in locked period
Hello, I created a Journal Entry with reversal date 2/1/2024. and 2/1/2024 period is locked. After the JE was approved, the system generated reversal entry was still posted in Feb 2024 period. The role approved JE doesn't have the "Override Period Restrictions permission". We have "ALLOW TRANSACTION DATE OUTSIDE OF POSTING…
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Can someone assist and help us in disabling the accounting period feature?
Hello, we have enabled accounting periods feature for a reason and now its causing us a lot of problems and we want to disable it, but the process is so complicated. we need someone to help us as a (part time job), please reply here if you have a good experience in working with accounting periods.
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May 03, 2023 | Question of the Week
Hello everyone! Are you ready to put your NetSuite knowledge to the test? Comment your answer below!
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How do I setup a new financial year?
I'm working through the student guide for ERP Fundamentals. I'm on Financial Tools section where I create a budget for the upcoming year. On the Set Up Budgets page, the guide asks me to select next years financial period. However, next years period isn't on the list. How would I go about creating this new financial year?…
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NSC | Vendor Bill Variance > Cannot Select an A/P Locked Accounting Period
According to SuiteAnswers Article 11154 Posting Vendor Bill Variances, the accounting period must be open for the entries being considered and the A/P must be unlocked. Hence, you cannot select an A/P locked Accounting Period for the Journal Posting Period field on the Post Vendor Bill Variances page. As long as the…
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Setting Period on Memorized Transaction
Hello! We have many memorized transactions that are created monthly for things like lease payments. Creating and entering the transactions is no issue but when they are created automatically they are taking the same accounting period as the original transaction which is not what we want. How can we ensure that the porting…