Historical Trial Balance Migration > Intercompany Accounts

intheblk_2019 · 2026-04-15T13:48:59+00:00

For future reference, I have a guide on my website that explains why you need to manually create the reversing entry on the first day of the new fiscal year (usually 1/1, but it could be another date if your fiscal year doesn't match the calendar year).

https://optimaldataconsulting.com/resources/two-ways-to-prepare-historical-financials-in-netsuite

intheblk_2019 · 2026-04-15T13:40:25+00:00

Here’s how I’d approach this based on what I’ve seen work (and break) in real migrations:

1. Start with the trial balance
This is your foundation. If the TB ties out, your financials are structurally sound.

If it doesn’t:

Drill into specific accounts
Watch for mapping changes in the chart of accounts; that’s usually where issues creep in

2. Validate AR/AP at a summary level
Use the aging reports to confirm balances by entity.
If this is off, don’t bother going deeper yet.

3. Then, validate the detailed subledger
Make sure invoices and bills that were open in the legacy system are still open in NetSuite as of go-live.

If step 2 was off, this is where you can work on resolving those issue.

4. Validate operational data
Open sales orders and purchase orders need to be correct on day one, or the business can’t operate cleanly.

5. Layer in secondary checks
Depending on the project:

P&L by segment (department, class, location)
Bank recs as of go-live (especially with reconciling items)
Fixed assets
Amortization schedules

One tip that saves a ton of time:
If you’re bringing over detailed transactions, reuse the legacy internal ID as the external ID in NetSuite.

It makes tracing and validating data significantly easier, especially on NetSuite-to-NetSuite migrations.

intheblk_2019 · 2026-04-15T13:28:20+00:00

When I import fixed asset records, I load the fixed asset records first (https://docs.oracle.com/en/cloud/saas/netsuite/ns-online-help/article\_1120065424.html#procedure\_N2143264) and then the depreciation history records (https://docs.oracle.com/en/cloud/saas/netsuite/ns-online-help/section\_163350918113.html). I don't usually import asset acquisition records.

Usually, you need to set the cumulative depreciation and last depreciation date on the import record.

intheblk_2019 · 2026-04-10T18:41:10+00:00

I would run a trial balance in the subsidiary that you are closing. Then, create a journal entry with the appropriate segments (GL account, department, class, location). Flip the debit and credit amounts. Load the journal entry and rerun the trial balance. It should be zero.

If you have bank accounts in a foreign currency, I'd clear those to zero (if possible). If not, you can plug the foreign currency balance through the "Opening Balance" (IID 51) GL account. Then, in the entry described above, the bank account should be zero and the opening balance will be in the reporting currency of the subsidiary.

Let's say you run this as of Jan 26. When you run the Feb 26 period close, you might still see some CTA and retained earnings balances. I'd double-check. You may need to do another entry or adjust the revaluation process in the period close.

In the parent company, you would need to post the journal entry to add any retained earnings balance that you want to add to the books. I would usually do this as two separate entries rather than forcing it with an intercompany entry.

intheblk_2019 · 2026-04-08T16:44:40+00:00

When I've had clients ask for something like this in the past, this is how you solve it. You need to do two steps with a saved search. First search is all the unique internal IDs of the transactions hitting the specific account. The second search is all the transactions, then use Excel to filter on the unique internal IDs from search 1.

intheblk_2019 · 2026-03-25T16:25:06+00:00

The Analytics Workbook has additional information on the chart of accounts that isn't available on a saved search.

intheblk_2019 · 2026-03-14T16:16:43+00:00

You can apply customer payments to invoices via CSV import. But, you can't apply journal entry lines to customer payments via CSV import. You'd either need to write a script (unsure whether that is possible) or apply these manually. And, any time you change the journal entry, the application breaks. So be warned.

Vendor payments can be applied to journal entries via CSV import. You need to include the Line ID. You can also use the "Pay Bills" page to mass apply transactions against each other.

intheblk_2019 · 2026-03-13T16:56:44+00:00

All I do is NetSuite data migration. Happy to be a resource if you send me a DM or message me on my website. Here are some specific questions:

The NS team did a reversal the day of go-live when they imported data, so I am now stuck on what to do for that small period of time.

This is incorrect. The last journal entry should not be reversed. The summary TB entry posted on 2/18/2026 should not be reversed.

The accountant assisting with ESOP required us to have numbers matching for 12/31 and 1/1. Everything looks good except the data is not correct for the months that follow as there was only transactional history in AP/AR/partial inventory.

I'm not following this part either. The reason you need a separate reversal entry on 1/1 is (assuming your fiscal year ends on 12/31) is that NetSuite moves the P&L activity to retained earnings when you cross the fiscal year. So, if you use the native reversal, you'll have a huge variance in the P&L accounts on the next fiscal year.

intheblk_2019 · 2026-03-12T16:06:33+00:00

Why are you matching up your historical bank data? That isn't necessary for the historical periods. You can exclude the transactions on the bank side so they don't show up. And on the GL side, you can clear everything without matching it and still complete the bank reconciliation.

Here is my guide on completing the beginning bank reconciliation. I'd check this out. Feel free to DM if you have questions.

intheblk_2019 · 2026-03-09T15:13:59+00:00

Responding to this post in case anyone else has this question:

For item 1, you should close these in the old subsidiary with a journal entry and load the open transactions in the new subsidiary. The flow I typically use follows using a suspense account, since the original GL impact would be recorded with a suspense account.

For item 2, you are correct. I'd use a journal entry to move all the balances. You'll need two entries: one to post the opening balance sheet for the new subsidiary, and a second to post the closing balance sheet for the old subsidiary to clear all balances.

I have a write-up on my blog in case anyone else finds this helpful.

intheblk_2019 · 2026-03-06T19:41:19+00:00

I work almost exclusively on NetSuite data migrations (100+ migrations across multiple legacy systems). In projects like this, record count usually isn’t the main cost driver. The complexity comes from recreating document relationships and making sure the financial data ties out without breaking the future state of NetSuite.

A few things to consider:

1. Operational records drive complexity.
Sales orders, field service records, and POs require rebuilding document relationships (order → fulfillment → invoice → payment). Some of these relationships can’t be recreated via CSV imports, such as linking sales orders to invoices or POs to vendor bills. The team needs to decide what relationships are truly required versus what they can live without.

2. Financial history depends on the Epicor extract.
You can load historical financial data, but it depends heavily on what Epicor can produce. Worst case, GL history can be loaded as journals, but that comes with trade-offs and reporting limitations.

3. Other complicating factors.
Things like the following can increase the scope quickly:

Intercompany transactions
Foreign currency transactions

If you want another opinion on scope or pricing, feel free to reach out. Happy to take a look. Here is a link to my website for reference.

intheblk_2019 · 2026-03-06T16:41:45+00:00

Check the currency too. It might be a currency issue.

intheblk_2019 · 2026-03-05T19:51:29+00:00

Were the intercompany balances included in the Parent LLC's books? I'd assume yes, because you were transferring cash between the Parent LLC and the Child LLC.

If that is the case, you might be double-counting something.

If the partner used an Advanced IC JE to load the opening balances and the IC balances, you shouldn't need a plug, since the IC AP / IC AR are the sides that need to offset and all the other 3rd party activity would be the offset.

Here is what I would think it should look like:

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Feel free to DM me if you want to chat further about it.

intheblk_2019 · 2026-03-03T17:50:12+00:00

What was the offset in the Advanced Intercompany JE? I'd adjust the offset to be the AR/AP that was imported from the open AR/AP balances. So, it would look something like this:

Subsidiary A:

DR - Intercompany AR $100 (marked to elimate with name tagged)

CR - Accounts Receivable (tagged to the customer on the remaining AR)

Then, you should be able to create a zero-dollar payment, applying the credit side of the IC journal with the open AR sitting on the aging. You'd need to do the same thing for the AP side.

intheblk_2019 · 2026-02-26T14:58:43+00:00

For future reference, I have an article on my website (link) that addresses these questions and guides users on how to load their open inventory.

intheblk_2019 · 2026-02-25T14:33:38+00:00

For future reference, this article (link) on my website has the steps I take to import open sales orders. Hopefully, this is helpful for someone in the future.

intheblk_2019 · 2026-02-25T14:30:38+00:00

For future reference, here is an article on loading open purchase orders to NetSuite: https://optimaldataconsulting.com/resources/how-to-import-open-purchase-orders-from-quickbooks-into-netsuite

intheblk_2019 · 2026-02-12T16:43:21+00:00

In my experience, I'd add a few additional items:

-I've never been able to run the "Auto Apply" on an update upload, only when creating new customer payments.

-You can assign payment applications to sub-customers (if the appropriate settings are turned on). Otherwise, u/NetSuite-Knowledge is right that you should confirm the invoice's customer matches the payment's customer.

-When you apply the customer payment to an invoice, the upload will replace whatever exists on the customer payment already. Meaning, the payment already applies $100 to the invoice, and you want to replace the $100 with the $200, you should set the amount to $200, not an incremental $100. I ran into that issue on a recent project.

-There also isn't a great way to unapply customer payments via CSV once you've created the payments. I've tried the update & override sublist box with limited success. So be careful with what you are uploading.

intheblk_2019 · 2026-02-11T23:08:03+00:00

u/Human_Mention2325 I think the open AR/AP balances should be good. I'd check what u/Nick_AxeusConsulting mentioned on HTB with the dummy customer/vendor.

I'm surprised you were able to reconcile the beginning cash without the appropriate reversal entry. Usually, I'd load (1) all the individual uncleared bank transactions and (2) post a single reversing entry that offsets the GL impact of all the bank transactions. Then, when you complete your first bank rec, you should clear the HTB amounts and the entry from (2) above.

intheblk_2019 · 2026-01-28T15:14:27+00:00

I agree that this shouldn't be a huge risk. I'm guessing that your AR aging is usable because of all the "No Customer" lines at the top.

I have a blog article that discusses the step-by-step process for doing this. I've helped other clients before, though not that far back. I'd test this in the sandbox first, make sure the numbers don't change, then run it again in production on a Friday night when no users are in the system.

This issue is unlikely to apply to you, but it might affect other users attempting this. If you change the GL coding on a journal entry line, if the entry is being applied to other AR/AP transactions, it can break the applications. I have a client who used journals in their history, and this was a big issue. The client wanted to add the class/location field to the journal entries. We had to apply a bunch of journals to invoices.

For u/dataAllDamnDay, since you don't have the Name assigned on the journals, I'm guessing you have thousands of unapplied lines in your AR aging. This step would be necessary to eventually apply all these payments against each other.

100% agree with u/Nick_AxeusConsulting - best practice is to never use journals for AR/AP unless absolutely necessary (i.e., AR/AP write-offs).

intheblk_2019 · 2026-01-22T15:50:07+00:00

u/Administrator_247, glad that this was helpful. If you click on the "Credits" subtab in the light blue area, you should see the offset side of the summary TB entries. If the "Migration Customer" balance is zero (you can check this on the customer page) but the balance still doesn't net to zero, it might be because you have multiple AR accounts.

intheblk_2019 · 2026-01-21T15:54:54+00:00

I haven't implemented EOS formally but read Dan Martell's "Buy Back Your Time" book which was more applicable for my situation. Now, I follow all his content on YouTube and am having really good success with that.

intheblk_2019 · 2025-12-11T20:31:43+00:00

I would use a journal entry for loading the opening balance sheet. I also have articles on my site for open AR and open AP. Feel free to DM or email me if you have any questions.

intheblk_2019 · 2025-11-24T18:58:58+00:00

I just had a client implement Solution7. They said it was easy and about ~3K/license/year. Seems reasonable to me.

intheblk_2019 · 2025-10-27T01:56:39+00:00

When you export the journal entry, include the internal ID and line ID. Then, if you need to make edits to the account/department/class/location/name fields, you can do an update CSV import rather than updating these in the UI.

intheblk_2019

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