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Access Code: D7THL2E
Reven
... [Show More] ue Recognition - Revenue Commitment
Separates the billing and revenue recognition functions, enabling you to recognize revenue and bill customers at different times and to recognize revenue in amounts that differ from the amounts billed to customers.
A revenue commitment is a non-posting transaction. It serves as the placeholder for the revenue recognition schedule that generates the posting revenue recognition journal entries
Revenue Recognition - VSOE
Vendor-Specific Objective Evidence (VSOE) feature to ensure that your company properly recognizes revenue for products and services sold as part of a bundle.
Revenue Recognition - Revenue Recognition Schedule
Determined the journal entries that need to be generated to record the impact of item sales.
Revenue Recognition - Revenue Recognition Template
Indicate how revenue from associated items should be posted
Landed Cost - Landed Cost can be by
Weight, Cost, Quantity, or manual
Item Pricing - Pricing applied according to the quantity included in the line item
By Line Quantity
Item Pricing - Pricing is applied for all line items for the same item on a transaction
By Overall Item Quantity
Item Pricing - Pricing is applied for all items in the same hierarchy
by Overall Parent Quantity
SQL Functions : NULLIF
To avoid divide by zero errors; if the results is zero, replace with null
SQL Functions : CASE
Returns value based on different conditions
SQL Functions : IS NULL
Display "unassigned" in results if blank
SQL Functions : TO_CHAR
Display date by day of the week
SQL Functions : DECODE
Compares 2 values, then returns specified parameter if they match
Custom Records - Enable Optimistic Locking
Causes the system to check for conflicting updates when users attempt to save updates to a custom record instance
Custom Records - Enable Inline Editing
Allow records to be edited directly when they display as a LIST
Custom Records - Enable System Notes
Tracks all changes made to a record
Custom Records - Allow Child Record Editing
Allow records to be edited directly when they display as a SUBLIST
True or False: A disabled field can display a default value
TRUE
True or False : A disabled field is not available for transaction line (column) fields
FALSE
True or False : If a field does not have a default, sourced, or custom information, it will not display on a form
FALSE
What is the impact of using the "Filter Using" setting when creating a custom Trans Body field, beyond allowing the user to source data onto the transaction?
This field allows the dynamic filtering of the list/record field by a particular attribute
True or False : There is an "in Transit" option for inventory during which time it is not counted as an asset for either subsidiary
FALSE
Tax - If subsidiaries share multiple Tax Nexuses, what is the correct order
1. International Tax
2. Subsidiary
3. Tax Agency
4. Nexus
5. Tax Codes, groups, schedules, types, periods
Tax - What are the 6 tax editions in NetSuite
International, US, Japan, UK, Canada, Australia
Subsidiaries : Contacts associated with 1 sub may be linked to a customer/vendor associated with another sub
Transactions are never against the contact
Sub-customers associated with 1 sub can be linked to parent customers associated with another sub
Only if accept payment thru parent is disabled
Tax - Tax Period
Defines a period over which your company tracks tax. A tax period can be a month, a quarter, or a year, depending on the frequency of your tax submissions or what your business has agreed with the local tax agency. You can run monthly, quarterly, or annual VAT/GST reports in NetSuite.
Available in all non-US & non-Canada editions
Tax - Tax Nexus
A nexus is a tax jurisdiction. Nexuses are part of the NetSuite Advanced Taxes feature, required for NetSuite OneWorld.
Each subsidiary must be associated with at least one nexus. The first nexus is automatically assigned to a subsidiary based on the country entered for the subsidiary's address. A subsidiary can have more than one nexus. A nexus and its related tax items can be shared by multiple subsidiaries.
Tax - Tax Type
A tax type determines where the tax paid or collected is tracked on the balance sheet. The balance sheet account to which NetSuite posts the collection or payment of tax is called the tax control account.
Tax - Tax Code
Contain information about tax rates and the types of transactions that the tax codes should be applied to.
Tax - Tax Schedule
Determine how NetSuite calculates taxes for items in each nexus.
Tax - Tax Group
Combines several tax codes that can then be applied to a transaction, even if the taxes are paid to different jurisdictions.
Tax - Tax Agency Vendor
These vendors represent taxing authorities to whom you pay collected taxes.
Year End Manual Close
Manually post the year end journal entry to zero amounts in P&L and post to Retained Earnings
Consolidated Exchange Rates vs. Currency Exchange Rates
Consolidated applies to: consolidated reports, set per accounting period, base currency for one pair of related subsidiaries, manually edited in the Consolidated Exchange Rates Table
Currency exchange rate applies to: transactions, "as of" effective date, base currency and one foreign currency, manually add new rows to Currency Exchange Rates
You can change the primary currency on a customer or vendor record, resets the default for transactions, credit limits, and aggregate balance
If primary currency is changed you must re-enter the credit limit, cannot remove any currencies which have transactions against them
Advanced Inventory Management
Calculate reorder based on historical data;
Assumes demand is mostly constant;
Reordering based on reorder point may create excess inventory
Demand planning
Ordering based on the expected demand. Demand can be calculated based on:
* Outstanding CRM data (i.e. opportunities, estimates & sales orders
* Projection of historical demand mathematically
Provides ability to use the sales history of another item for calculations
Items - Assembly Items
Members: non inventory & other charges; item price is INDEPENDENT of members; separate COGS, income from components; decrease asset accounts of member items and increase asset account of the assembly [Show Less]
