Invoice GL Impact vs. Standalone Invoice
Debit AR/ Credit Sales Income.
Standalone: Debit AR/ Credit COGS
When are statement charges used?
Use in
... [Show More] stead of invoice when you want to see several charge accumulate before billing a customer. Debit AR/ Credit Sales Income
Non posting NS Transactions
Estimate
Liability Adjustment
Opportunity
Payroll Adjustment
Purchase Order
Return Authorization
Revenue Arrangement
Sales Order
Transfer Order
Vendor Return Authorization
Work Order
T/F Multi-location & multi-currency can be disabled after they are enabled
False. Neither can be disabled
How many subsidiaries are supported in NS?
74 subs, & 1 root
Note: set up base currencies before setting up
Multiple Fiscal calendars
fiscal calendars can be set up for each subsidiary
note: need to enable multiple calendars
Tax editions & international subs supported by NS
US, CA, JAP, UK, AU, XX
What is the correct order to set up taxes if subsidiaries share nexuses?
sub, tax agency, nexus, tax code
T/F Sub-customers can be linked across only if accept payment through parent is disabled
True
purpose of a tax schedule
define treatment of items in each nexus
Which tax editions have precoded tax?
Yes: US, CA, JAP, AU, UK
No: XX
What type of tax for each of the tax editions?
US: state tax imports
CA: GST/PST
JP: consumption tax
AU: GST
UK: VAT
XX: need to install bundle
Which tax editions have separate tax/reporting periods?
Yes: JAP, AU, UK, XX --> can tie a fiscal calendar to a tax period if needed
No: US, CA
How to set up taxes?
Set up like accounting periods, unless it's US/CA. Then use nexuses/tax codes
Define nexus
jurisdiction where you collect tax
1 per sub in a one world account is automatically set up --> can set up more if needes
US needs 1 for every state in which you collect taxes
tax code
amount of tax applied to item on transaction
tax schedule
per item per nexus
functionality of Advanced Taxes
determine the tax treatment of items purchased and sold
tax agengy
vendor making payment to on behalf of customers
tax schedules
...
acceptable file types for importing bank data
OFX, QFX, QIF
T/F Elimination subs don't need to have the same currency as parent
false - they need to have the same currency as parent sub
consolidated exchange rate
applied to consolidated reports, set per accounting period
base currencies for one pair of the related subs
manually edit/auto calculate rows or both
currency exchange rate
applied to transactions and uses the as of effective date
base currency and 1 foreign currency
manually add new rows with effective dates or use exchange rate integration for auto daily updates
what do you set up to handle processing between 2 currencies?
default exchange rates
how does multi-currency customers and vendors work in NS?
both allow a base and alternate currency
what is suite flow used for?
conditionally enable fields based on role
conditionally default data
approval processing
approval reminder emails
lead nuturing
automation based on changed to related records
when to use suitescript?
customer server requests from browser
create transactional records
sublist manipulation
redirect user suitelet
update related records
copy, print, delete, attach records
processing searches & dynamic searches
web service calls
scripted portlets
entire new applications
Netsuite limitations that need suitescript
accessing a sublist
calling web service
updating a different record
initiating a workflow on related record
designing complex business logic
inventory worksheet vs. adjust inventory
inventory worksheet - exclusive of current inventory (whatever to enter is what the new inventory level is
-->CSV importable
-->not available for lot/serialized items
adjust inventory - inclusive of current inventory(whatever you type in will be added or subtracted from current inventory levels
-->considers fifo/lifo [Show Less]
