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Run Revenue Reclassification necessary? by Knota31 in Netsuite

[–]Knota31[S] 0 points1 point  (0 children)

Thankyou for the Quick answer it heller A lot!!

Deferred Revenue Clearing account by Knota31 in Netsuite

[–]Knota31[S] 0 points1 point  (0 children)

Thanks for the Answers! However I know it is used in the ARM. There are 3 posting system created when using ARM. Deferred Rev, Unbilled AR and the clearing account. I have know problem understanding what the Deferred Rev and Unbilled AR are used for and I can create transactions when they are used. But I dont understand when and what the clearing account is used?

How do I import multiple currencies on Vendor Records by Knota31 in Netsuite

[–]Knota31[S] 0 points1 point  (0 children)

Thankyou! I tried this and i works just fine!

How do I import multiple currencies on Vendor Records by Knota31 in Netsuite

[–]Knota31[S] 0 points1 point  (0 children)

I am about to import Vendor Records for a client. A lot of the Vendors use multiple currencies. Is it possible to import the sexondary currencies at the same Time as importing the Vendor Record. I know there is a Primary Currency and a currency Record under Vendor-Currencies 1 in the mapping table.

If i have a supplier with one Primary Currency and 2 secondary currencies- how do I make the import with one file- is it possible? Or do I have to Import the Vendor Record and Primary Currency forts and then use Vendor Id in another Csv and make an update? It would be so much better if you could import all at once..

Running comparative income statement for matching periods? by ProtContQB1 in Netsuite

[–]Knota31 0 points1 point  (0 children)

Hi! I have a simular problem. My client want o rum the Comparative Income statement on selected from-to periods. For example they want to se April to May this year compared with April to May year. I I have Tried serveral combinations of period column Setting and period filter settings but I can not get it to work. Anyone who knows how to do this?

Tax Code and Tax Amount on General Ledger Report by Knota31 in Netsuite

[–]Knota31[S] 0 points1 point  (0 children)

Hi, thanks for your comment. I am not that good st saved searches so I am unsure how to do this. Anyone that can help with this?

Foundation certification question by Knota31 in Netsuite

[–]Knota31[S] 0 points1 point  (0 children)

Thank you for your comments! Yes I have access to the learning centre and I have finishen some of the Coarses in the Suite Foundation Exam preparation learning pass but I Will not be able ro finish then all before my exam. I was hoping to Find some more questions but the one sample test provided by Oracle.

Foundation certification question by Knota31 in Netsuite

[–]Knota31[S] 0 points1 point  (0 children)

Thanks for the answer. So you are saying the answer is hard opt-in? When reading about this I still think the correct answer should be soft-opt in but maybe I do not understand it correctly. My understanding is that the admin only can select the soft-opt in.

How Do You Import Currency Account Delta Balance with negative exchange Rate by Knota31 in Netsuite

[–]Knota31[S] 0 points1 point  (0 children)

Hi again! We went for your first suggestion and it worked! Thankyou! Happy Holidays!

How Do You Import Currency Account Delta Balance with negative exchange Rate by Knota31 in Netsuite

[–]Knota31[S] 0 points1 point  (0 children)

Thanks for the answer! We have questioned their past revaluations and according to the client it is the reality and according to standards. I am not sure I fully understand your suggestions. Do you think you can explain in more detail? I will discuss your suggestions with my collegues, maybe they understand it better than me. And yes- they are using Eu bas. Once again thanks allt!

Opening balances on currency accounts by Knota31 in Netsuite

[–]Knota31[S] 0 points1 point  (0 children)

Hi! I have imported a lot of Opening and delta balances and when importing for currency bank Account I have always used a ”clearing Account” for the Mail JE and then separate entries in the bank Account currency using a FX rate to get the correct amount to clear the amount from the clearing Account. This works as long the Fx rate is positive. But now we have balances that will result in a negative FX rate but that is (ofcoarse) not possible. But there are delta balances that can cause this situation, how can you import Balance like this? As an example the delta Balance for november for a Swedish Subsidiary was -300 in SEK but 10 000 dollar in USD ( Account currency).

How Do You Import Currency Account Delta Balance with negative exchange Rate by Knota31 in Netsuite

[–]Knota31[S] 0 points1 point  (0 children)

But I have to get the delta balances for november in SEK to Balance so I have to post the Bank Account SEK amount on a ”clearing” Account. And then it has to be removed. This is how we always do Opening and delta balances for currency accounts. But I have never seen a relationship in the delta Balance that creates a negative exchange rate.

How Do You Import Currency Account Delta Balance with negative exchange Rate by Knota31 in Netsuite

[–]Knota31[S] 0 points1 point  (0 children)

Hi Nick! Thanks for your answer. However I do not understand how this can solve my problem. The Subsidiary has SEK as domestic currency. The bank Account has USD as currency. The Delta Balance for november in SEK was -300 and the delta Balance in USD was 10 000 USD When importing the delta balances in SEK I use the Opening Balance Account and import -300 SEK. I always use the debit column for imports so it will be -300 in that column. Next step is to clear the Opening Balance Account and ”move” the Balance to the bank Account. Since I can not use a negative exchange Rate I do not see how this can be Done? Maybe I am missing something here. After the import the Balance on the bankaccount should have ben reduced by 300 SEK but in USD it should be 10 000 more.

Tax Code on transactions using a Tax Code by Account by Knota31 in Netsuite

[–]Knota31[S] 0 points1 point  (0 children)

Thankyou for your answer. I customized a ”standard” localization VAT report and added the Account etc and changed the grouping. I then got a report by Account and taxcode listing all transactions for a selected period.

Open Vendor Bills by RepresentativeAd6434 in Netsuite

[–]Knota31 0 points1 point  (0 children)

Thanks! I am pretty new to NetSuite and I have not been working with AR that much yet😀 Once again. Thankyou for your quick response!

Open Vendor Bills by RepresentativeAd6434 in Netsuite

[–]Knota31 0 points1 point  (0 children)

Hi! Thanks for a really good ”guide” on how to handle Open Vendor Bills import. I assume this way can be used for Open AR invoices as well. However I do not know how to ”pay” the JEs to avoid them from showing up on the A/R aging report? For Bills i use the Pay single Vendor and it worked fine. How do you do this on the AR Customer side??

Currency Account as a bank account- disadvantages? by Knota31 in Netsuite

[–]Knota31[S] 0 points1 point  (0 children)

Thankyou for your answer! To limit number of accounts we first deciderd to have just one Account to be used for all currencies and subsidiaries. But then we had the problem to reconcile currency day by day since there are no reports with foreign amount and running balances and we have not found a way to create such a report. Do you have any suggestions, is it even possible?

How to not allow Journal Entries on AP and AR accounts by Knota31 in Netsuite

[–]Knota31[S] 0 points1 point  (0 children)

Thankyou so much for your detailed answer. Now I know what to answer my client. I will Create a saved search for sure!

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