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Updating Item Income Account with Transactions in Closed Period
Hi, We’re trying to update the Income account on an item, but NetSuite blocks this since transactions already exist in a closed posting period. Our need is slightly different: We want to update the income account on an item(that has historical transactions), but without reopening the closed period. Has anyone found a way…
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NSC | Item Creation > Error: The subsidiary restrictions on this record are incompatible...
Scenario When creating a new item in NetSuite and changing the income account, the user encounters the error: "The subsidiary restrictions on this record are incompatible with those defined for account." Solution To resolve the issue, follow these steps: Go to Lists > Accounting > Accounts. Search for and select Income…
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Can you add multiple income accounts to one inventory item?
We have 1 item we sell to multiple locations. Currently I do a journal entry at the end of the month to allocate all sales to their associated sales account. For instance Item 1 sold to Amazon, Shopify and distributor. We have set up 3 separate sales accounts to reflect sales to each. Currently the items are all set up to…
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Unable to change the income account for an inventory item
Some of the inventory items that were setup previously were set to the incorrect Income Account. We've tried updating the item with the correct Income Account, but when we try to save it, we get a message that: the G/L impact of a transaction in a closed period cannot be changed. Is there a workaround to change the income…
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Why Do Rent Expense from copied Invoices appear on Income Statement?
We have our billing set up recurring expenses, i.e. rent, for 12 months out. The issue is they show up on the monthly income statement. This causes my Net Income to be decreased by sometimes 11 months of unpaid rent. Is this supposed to happen? Should I have billing do extra steps and enter the monthly rent only during the…
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Bill posted to wrong account?
Hi Team, I for some reason have several bills for inventory items that posted to the wrong account. For some reason they are posting to an income account for shipping and handling. They should be posting to accrued purchases, but they are not and I can not figure out why, or how to correct it. Any advice? Thanks Josh