SuiteFoundation Exam Notes Netsuite Basics

The following Important Notes have been collected from Netsuite Help Center for quick revision.

General accounting

The first step before you can use netsuite accounting features is to setup chart of accounts.
GAAP (Generally Accepted Accounting Principles)
Account types are used to organize data in account registers and other financial reports.
Assets + Expenses = Equity + Liabilities + Income.

Opening balances are entered when we are firt using that account in netsuite. After entering data into opening balance that account can
be used for transaction.

To find your account number:

Go to Setup > Company > Company Information.
On the right side of the Company Information page, note your Account ID. This is your account number.
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Security Guidelines

Set a strong password policy that has at least a 10–character minimum and includes at least three of these four character types: uppercase, lowercase, numbers, non-alphanumeric ASCII characters.
When creating new users, always require that they change their password the first time they log in.
Monitor the Login Audit Trail’s Security Challenge column to determine if outside people are trying to access the system.
Use IP Address Restriction for users that handle confidential data. This feature supports the restriction of users’ NetSuite access to specific computers. You can restrict at the company or employee level.
When an employee leaves, immediately remove their access to NetSuite:
Mark the employee record as inactive
Remove the assigned roles and global permissions

Set a strong password policy that has at least a 10–character minimum and includes at least three of these four character types: uppercase, lowercase, numbers, non-alphanumeric ASCII characters.

The record limit per imported file is 25,000.
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Centers Overview

When a user logs in to NetSuite, the system determines the user's default assigned role and displays the associated center.
Billable Components tab of the Billing Information page at Setup > Company > NetSuite Account Information > View Billing Information


NetSuite Standard Centers

The NetSuite Account Center
The Classic Center
The E-Commerce Management Center
The Sales Center

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Currency – (Available when the Multiple Currencies feature is enabled.) Choose a base currency for the company. Choose carefully because after transactions have been entered with the selected base currency, this field is no longer editable.

An IP address with full netmask, such as 123.45.67.80/255.255.255.0. A netmask defines which bits of the IP address are valid. The example means “use the first three segments (255.255.255) but not the fourth segment (0)”.

An IP address and bitmask, such as 123.45.67.80/24. The “24” indicates the number of bits from the beginning to use as validation – the same IP addresses are valid as in the previous example (255 means 8 bits).

An IP address and mask, such as 209.209.48.32/255.255.0.0 or 209.209.48.32/16.
Think carefully when using this type of notation. The mask is a binary number. For example, the IP address and mask 12.34.56.78/12.34.56.78 does not indicate only one IP address is allowed. The IP address 140.34.56.78 matches the mask in this example. There are more IP addresses that match the mask than are immediately obvious.

The text "NONE" – denies access from all IP addresses.
The text "ALL" – allows all IP addresses.

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Any transaction that changes the balance in a ledger account does so by posting a journal entry. Transactions that post to ledger accounts are called posting transactions. For example, a bank check is a posting transaction. NetSuite automatically generates journal entries when you record posting transactions.

Intercompany Time – Set to Allow (default) to permit time entries where the employee and customer have different subsidiaries. Set to Disallow to prohibit these transactions.
Intercompany Expenses – Set to Allow to permit expenses transactions where the employee and customer have different subsidiaries. Set to Disallow to prohibit these transactions. Set to Allow and Auto Adjust (default) to enable automated intercompany adjustments.

Retail Location 1 has a large supply of Deluxe Soap, but low demand for it. Retail Location 3 has a low supply of Deluxe Soap, but high demand for it. Because both locations are in the same subsidiary, Wolfe can use Distribution Resource Planning to transfer items from Location 1 to Location 3 to meet demand.

If you use NetSuite OneWorld, subsidiaries are the primary classification used to organize your NetSuite records. Departments, classes, locations, and custom segments can be used in addition to subsidiaries. If you use these classifications, you must associate them with a subsidiary. This association enables you to select the department, class, location, or custom segment on the record or transaction related to that subsidiary. For more information about using subsidiaries, see Subsidiaries Overview and Setting Up Subsidiaries.

You can Enter up to 31 alphanumeric characters for the name of the class.
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Subsidary

It is recommended that you diagram the parent-child relationships in your subsidiary hierarchy, starting at the top with the root subsidiary. This visual representation can help you consider how you want to organize and consolidate data, for both accounting and reporting purposes.

As you diagram your subsidiary hierarchy, it is a good idea to record the country, base currency, and tax nexuses for each subsidiary. A base currency is the currency in which a subsidiary manages its financials. After a base currency is defined and saved on a subsidiary record, it cannot be changed. A nexus is a tax jurisdiction. Nexuses can be added and changed on subsidiary records. The country entered on a subsidiary record automatically determines the first tax nexus and NetSuite edition associated with that subsidiary.

After you have diagrammed a hierarchy of subsidiaries representing all legal entities in your organization, you should include one elimination subsidiary as a child of each parent subsidiary. The elimination subsidiary should use the same base currency.

The subsidiary hierarchy diagram can serve as a roadmap for setting up subsidiaries. You can refer to the base currency listed for each subsidiary to ensure that all necessary currencies are set up in NetSuite. See Multiple Currencies in OneWorld. You can refer to the country listed for each subsidiary to ensure that all required tax nexuses are set up in NetSuite and linked to the appropriate country. See Nexuses and Taxes in OneWorld. Use your diagram to reference the order in which to create subsidiary records, in top-down order, beginning with the root. Be aware that you cannot change the subsidiary after you create and save a subsidiary record. See Creating Subsidiary Records.
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Important The following values cannot be edited after you have saved a subsidiary record: Subsidiarity of, Elimination, Currency, Edition, and Country.
If you have not yet entered transactions for a subsidiary, you can change the base currency by performing the following tasks:
Delete the nexus.
Delete the subsidiaries related to that nexus.
Recreate the nexus.
Recreate the subsidiaries using the correct currency and then re-associate them with the nexus.
For subsidiary planning information, see Planning Your Subsidiary Hierarchy.

You can delete subsidiaries that have been created and saved, and those that do not have transactions or records. For information about deleting transactions, see Voiding, Deleting, or Closing Transactions.

You can also delete a subsidiary if the only action you have performed is to add tax agency addresses.
Be aware that you cannot delete the subsidiary where the ID is equal to 1.
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Tax Control Accounts Overview

Tax control accounts are accounts in your general ledger or chart of accounts. These are the accounts to which the amounts computed for indirect taxes such as sales tax and VAT are posted.

Tax control accounts are used to define tax types, and tax types are used to define tax codes. Tax codes in your transaction records determine how much tax is applied to each line item on your transactions.

If the Advanced Taxes feature is enabled in your NetSuite account, tax control accounts are linked to a nexus or country to more effectively manage tax postings.

In NetSuite, the tax control accounts are either already set up by default, or set up for you by Professional Services. However, an administrator can create new tax control accounts if necessary.

You can use multiple tax control accounts to track your sales tax liability and provide more detail on your financial statements. For example, for US customers, you can create tax control accounts for each tax jurisdiction and assign them to their respective tax codes.

You can choose to separate your sales VAT and purchase VAT. For example, for UK customers, you may want have an Output VAT account to track VAT on your sales, and an Input VAT account to track VAT that you can reclaim.

In NetSuite, the tax types are either already set up by default, or set up for you by Professional Services. When you add a subsidiary in a new country, the tax types for that country become available in the system automatically. However, an administrator can create new tax types if necessary.
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In the United States, you can combine state tax, transit tax, and city tax into one tax group so that when you create a sales invoice, you can select the tax group to be applied to the transaction.
In Canada, each province has GST and PST, and rates vary for each province. You can create a tax group for each province, combining GST and PST.
In Australia, GST is added after applying wine equalisation tax (WET) to the price of wine. You can combine WET and GST in one tax group. For more information about WET, see Using Wine Equalization Tax (WET).
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NetSuite editions use tax periods?

The following accounts can use accounting and tax periods:

Australia edition
Japan edition
UK edition
International edition
OneWorld (any edition, if there is a VAT/GST nexus)
The following accounts use only accounting periods:

U.S. edition (not OneWorld)
Canada edition (not OneWorld)
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Creating an Online Customer Form

If you have both the CRM and Sales Force Automation features enabled, you can create online forms based on NetSuite's default template, or you can apply your own HTML template to your forms. To enable these features go to Setup > Company > Setup Tasks > Enable Features. On the CRM subtab, check the Customer Relationship Management and Sales Force Automation boxes, and click Save.

To create an online customer form with the default template:

Go to Setup > Marketing > Setup Tasks > Online Customer Forms > New
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When you create opportunity or estimate/quote from lead. Lead is automatically converted into prospect and there is no more lead record in netsuite.

when customer is status is identified as decision maker probability changes to 30 %. After we create estimate from the opportunity then also the probablity remains the same on opportunity. Prospect opportunity records remains in netsuite as it is. When a sales order or cash sale is created from estimate prospect is automatically converted into customer. Opportunity status changes to closed won.

In netsuite we can create multiple opportunity for a lead..

In netsuite, you create new quote from the opportunity record. You have the ability to create multiple quote records for one specific opportunity.

Leads should have a 0 probability. If the probability increases, they are then considered prospects.

Sales teams in NetSuite are groups of employees. Each employee in a sales team has a designated contribution percentage. A member's contribution percentage determines how much of a transaction's total is used to calculate:

commission earned for that transaction
how much of the transaction counts towards a quota
how the transaction affects the sales forecast
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Team Selling and sales territory


The Team Selling feature lets you associate sales transactions and customers with sales teams comprised of various employees. In addition to sales reps and managers, sales teams can include engineers, account managers and other employees that aid in the sales process.

You can use sales territories to route new leads, prospects, and customers to sales teams for assignment.

create a sales role:

You must enable Team Selling feature in Setup > Company > Enable Features > CRM subtab > Sales section > Team Selling.
Go to Setup > Sales > Setup Tasks > CRM Lists > New. Click Sales Role.

Creating a Sales Team

After you have assigned sales roles to your employees, you can create a sales team record.

Sales teams in NetSuite are groups of employees. Each employee in a sales team has a designated contribution percentage. A member's contribution percentage determines how much of a transaction's total is used to calculate:

commission earned for that transaction
how much of the transaction counts towards a quota
how the transaction affects the sales forecast

To create a sales team:
Go to Setup > Sales > Sales Management > Sales Teams > New.

Sales Rules

A sales rule is a set of parameters for how potential customers are assigned to sales reps. Sales rules are based on standard and custom fields found on lead, prospect, and customer records, such as name, address, and phone number.

Any potential customer that does not match your sales rules is unassigned. These can be assigned manually record, or they can be distributed with the default Round Robin sales territory.

To create a sales rule:

Go to Setup > Sales > Sales Management > Sales Rules > New.

Sales Territories

Sales territories use sales rules to determine how new potential customers are distributed to your sales reps, sales groups and sales teams.

In NetSuite, sales territories are defined by sales rules. The information in a lead, prospect or customer's record must match one or all of the criteria of the sales rules to be assigned to that territory.

For example, Wolfe Electronics assigns most of their leads to traveling sales reps based on geographic location. The company also purchases lists of leads to cold call that are assigned to telesales reps.

Sales territories are used to assign sales rules to sales teams.
e.g sales rule can be based on location. like india location. For a sales team to be assigned to a territory a sales rule must be created first.

Sales territories can also be assigned to sales rep if you are not using the team selling feature but for that also we will need to create a sales rule first.
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Lead Nurturing Campaigns

Lead nurturing campaigns, sometimes referred to as drip marketing campaigns, offer an alternative to traditional email blasts by utilizing a series of targeted messages that are sent based on each lead's response. Lead nurturing campaigns allow you to focus effort on the leads who express interest in your marketing messages, gently moving them toward becoming customers.

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Return on investment (ROI) is a measured by comparing the cost of a campaign with the revenue it generates. ROI is calculated by dividing the revenue by the cost of the campaign.

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Sales Orders

Entering sales orders enables you to track the items you need to fulfill and ship to customers. Sales orders, however, are non-posting transactions. They do not post an amount to your ledger accounts.

Enter sales orders at Transactions > Sales > Enter Sales Orders.

After you fulfill a sales order, the costs and asset values of the items post to your ledger.

When you record a fulfillment, it posts to the journal accounts affected by the fulfillment. Because you are removing items of value from your inventory, fulfilling items lowers the total value of your assets on hand. That is why a fulfillment posts a decrease to an asset account.

The amount of the decrease that posts is based on your cost for the item. For example, if you paid $10 for each of the three cases, the value of your assets on hand decreases by $30. This posts as a decrease in the Inventory Asset account. Fulfilling items also increases the total amount you have spent on items sold, which is tracked in the Cost of Goods Sold (COGS) account. You paid $10 for each of the three cases, so this posts as a $30 increase to your COGS account.

Record your item fulfillments at Transactions > Sales > Fulfill Orders.

After an order is fulfilled, bill the customer that received the order. Customers can be billed using cash sales, invoices, or statement charges.
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Credit or Refund?

Whether the return process results in a credit or a refund is dependent on three things:

Which return authorization form is selected in the Custom Form field on the authorization.
Standard forms available include the following:
Standard Return Authorization - Credit – A return using this form generates a credit memo for the returned item.
The credit memo can later either be applied to an account balance or refunded to the customer.
Standard Return Authorization - Cash – A return using this form generates a refund for the returned item.
A cash form return authorization cannot later be processed as a credit memo.
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Assembly item

For example, Wolfe Electronics sells a computer called Creativo 2400 that they assemble in-house. The Creativo 2400 computer is assembled from these inventory components—one Superion 3.5 GHz processor, one Creativo 2400 motherboard, 12 GB RAM, 512 GB Flash Storage, one Superion sound card and one power supply.

Your account tracks the stock of the Creativo 2400 and each component item separately. Then, Wolfe can track the stock level of Creativo 2400 in inventory and available to ship to customers, and the quantity of materials available to assemble more.

To use assembly items, you need to first create assembly item records, and then enter assembly builds to track production. For more information on creating assembly item records, read Creating Item Records.

After you have created an assembly item record, track your assembly production by entering an assembly build in your account.

When you physically manufacture assemblies in a production run, you increase your stock of the assembled items. Record each production run and update stock levels by entering an assembly build.

For each assembly build you record:

the assembly item stock level increases
the member items' individual stock levels decrease
After an assembly item is built, it is processed like an individual inventory item for tracking inventory costs. The asset/costing value of each built assembly item can be the total value of the assembly's member items, or another value that you assign on the item record. This value functions like the assembly item's purchase price for inventory costing calculations.

You can also unbuild assemblies to increase your inventory of raw materials.

For example, to fill a large order, you build 100 units of assembly item #1001. Then, the customer cancels the order. You can unbuild the assembly items that are not sold and maintain the stock as raw materials.

For example, if daily demand for item #12345 is five per day and you want to always keep on hand the Preferred Stock Level quantity plus 3 days worth of buffer stock, you can enter 3 in the Days field next to Safety Stock Level.
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Pricing Schedule

Check the Use Marginal Rate box if you want the quantity discounts in the schedule to be applied to each pricing bracket separately.
For example, a schedule offers no discount for the first 100 items sold and a 5% discount if more than 100 are sold. If 150 items are sold, the first 100 are at normal price, and the other fifty items are sold at 5% discount.
Leave this box clear if you want the discount to apply to all of the items sold.

In the Calculate Quantity Discounts field, choose how to determine the quantity for the purpose of pricing:
By Line Quantity - pricing is applied according to the quantity included in the line item.
By Overall Item Quantity - pricing is applied for all line items for the same item on a transaction.
By Overall Parent Quantity - pricing is applied for all items with the same parent item on the transaction. This can be useful for applying quantity pricing to matrix items.
By Overall Schedule Quantity - pricing is applied to all items that use the same pricing schedule that are included in the transaction.
In the Pricing Group field, select the pricing group this item is a member of. Using pricing groups enables you to assign customer-specific price levels for a group of items.
Using Multiple Prices

If you use multiple prices:

Enter a base price for this item as the default price for transactions.
Enter alternative prices for this item. You can assign alternate price levels to certain customers, such as privileged or club customers.
You can rename and create new price levels at Setup > Accounting > Setup Tasks > Accounting Lists. Select Price Levels in the Type field.
Enter an online price for the default item price in the Web store.

Using Multiple Prices and Multiple Currencies

If you use both multiple prices and currencies:

In the Price Level column, select a price level.
You can rename and create new price levels at Setup > Accounting > Setup Tasks > Accounting Lists. Select Price Levels in the Type field.
If you have set a default discount percentage for a price level, it appears in the Default Discount % column.
In the Currency column, select a currency for this price level.
To create new currency records, go to Lists > Accounting > Currencies.
In the Amount column, enter a price for this price level and currency.
Click Add.
Repeat these steps to add prices for additional price levels and currencies.

Price groups allow you to assign customer-specific price levels for groups of items. For example, you could create a pricing group called Laptops and associate the pricing group with all of your laptop items.

First create a pricing group at Setup > Accounting > Setup Tasks > Accounting Lists > New.

Then, add items to this group by selecting this pricing group in the Pricing Group field on the Pricing subtab of each item.

Finally, click the Financial subtab of the customer you want to assign a price level to for this pricing group. On the Group Pricing subtab, select the pricing group and select the price level you want to charge this customer.
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standard mode vs dynamic more in records - in dynamic mode sourcing occurs in real time but in standard mode it does not occur. : Dynamic mode (sourcing occurs as each line executes)
Standard mode (field ordering does not matter)

get, post, put, delete

Scheduled script units exceed and remaining usage

Saved search and formulas


ABS(n)
This function takes as an argument any numeric datatype or any nonnumeric datatype that can be implicitly converted to a numeric datatype. The function returns the same datatype as the numeric datatype of the argument.


ACOS(n)
ACOS returns the arc cosine of n. The argument n must be in the range of -1 to 1, and the function returns a value in the range of 0 to pi, expressed in radians.

This function takes as an argument any numeric datatype or any nonnumeric datatype that can be implicitly converted to a numeric datatype. If the argument is BINARY_FLOAT, then the function returns BINARY_DOUBLE. Otherwise the function returns the same numeric datatype as the argument.

ASCII(char)
You can create up to 124 subsidiary records in addition to the root subsidiary, for a total of 125.

When related companies within a consolidated company transact, keeping correct books may require eliminating the revenue or expenses for subsidiaries at the consolidated level to remove the effect of investment in subsidiaries.

For example, intercompany transaction balances may require elimination for the following reasons:

Sales between subsidiaries
Inventory transfers between subsidiaries
Loans between subsidiaries
You use elimination subsidiaries to post journal entries that balance consolidated books. These journal entries, called elimination journal entries, reverse the impact of the intercompany transactions. Each elimination journal entry is posted to an elimination subsidiary. Note that ONLY journal entries post to elimination subsidiaries. No other transactions post to elimination subsidiaries. See Elimination Journal Entries.

An elimination subsidiary cannot be a parent.

The NetSuite Multiple Currencies feature provides support for transactions with customers and vendors that use currencies other than the currency in which your company manages its financials. The currency used to manage your company's financials is called the base currency, and other currencies used by customers and vendors are referred to as foreign currencies.

The Multiple Currencies feature is required for NetSuite OneWorld accounts. With NetSuite OneWorld, each subsidiary can have a separate base currency. The base currency is used to manage the subsidiary's financials. A subsidiary's base currency cannot be changed after the subsidiary record has been saved.

As you are planning your subsidiary hierarchy, you must determine the base currency of your root subsidiary, then the base currencies of all of your other subsidiaries. All subsidiary base currencies as well as any other currencies in which transactions are recorded should be set up in NetSuite. See Creating Currency Records.

When a transaction is entered for a subsidiary, the currency defined on the customer's or vendor's NetSuite record determines the currency used to present the transaction amounts. If a customer or vendor has a currency different from the subsidiary, the transaction must use two currencies, the foreign currency used by the customer or vendor and the base currency used by the subsidiary.

Currency exchange rates are used to convert foreign currencies to base currencies, providing default rates for transactions in currencies other than the base currency. Exchange rates are expressed in terms of base currency units per foreign currency units. You must set up a Currency Exchange Rates list in NetSuite. See Setting Currency Exchange Rates. You can enable the Currency Exchange Rate Integration feature to automatically update currency exchange rates on a nightly basis. See Using the Currency Exchange Rate Integration Feature.
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Nexuses and Taxes in OneWorld

A nexus is a tax jurisdiction. Nexuses are part of the NetSuite Advanced Taxes feature, which is required for 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.
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Creating Subsidiary Records

Be aware that the following values cannot be changed after you have saved a subsidiary record:

Subsubsidiary of (the parent subsidiary)
Elimination
Currency
Edition
Country
Also be aware that you cannot delete the subsidiary where the ID is equal to 1.
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Editing Subsidiary Records

The following values cannot be edited after you have saved a subsidiary record: Subsidiarity of, Elimination, Currency, Edition, and Country.
If you have not yet entered transactions for a subsidiary, you can change the base currency by performing the following tasks:
Delete the nexus.
Delete the subsidiaries related to that nexus.
Recreate the nexus.
Recreate the subsidiaries using the correct currency and then re-associate them with the nexus.

A subsidiary must be associated with an item in order for the item to be added to a transaction related to that subsidiary. For example, you enter a sales order and select a customer associated with the Wolfe US subsidiary on the transaction. When you select an item to add to the sales order, only items associated with Wolfe US can be added to the sales order.

When a sales order is approved that contains drop ship or special order item, a purchase order is automatically created for the item.
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You can drop ship these item types:

Inventory item
Non-inventory for resale item
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When creating a regular assembly item, serialized and lot numbered items cannot be included as member items.

A non-serialized assembly cannot include a serialized or lot numbered member item.
A non-lot numbered assembly cannot include a serialized or lot numbered member item.
Serialized or lot numbered inventory items can be members of an assembly only if that assembly is itself serialized or lot numbered.

A serialized assembly can include a serialized or lot numbered member item.
A lot numbered assembly can include a serialized or lot numbered member item.
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Classification in Netsuite

Departments and classes are categories that you create to track records such as financials, transactions, and employees.

Departments are listed first on transactions, and are useful when designating transactions and employees as part of an internal team. For example, you can create a department for each team of employees dedicated to a certain area of business, and then track income and expenses by each department over any time period.

Classes are useful for wider segments within your business. For example, you can create a department for your sales team, and create classes to track information on sales transactions such as new customers and repeat customers. Sales orders would then indicate whether the transaction was created for a new or repeat customer. This is useful in tracking where income and expenses are generated.

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To enable custom segments, go to Setup > Company > Setup Tasks > Enable Features. On the SuiteCloud subtab, check the Custom Segments box, and then click Save.
To create a custom segment:

Go to Customization > Lists, Records, & Fields > Custom Segments > New.
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Associate transactions with a location.
Sales and purchases can be grouped by location, as well as bank transactions like checks, deposits, and credit card purchases.
You can search transactions associated with a location and filter reports to show data specific to each location. For more information, see Associating a Transaction with a Location and Searching for a Transaction by Location.
Associate employees with a location.
Choose a location on the employee's record to associate them with a location. By customizing employee roles at  , you can restrict employee access to data for only their location. For example, you can restrict access for warehouse personnel who handle item receipts or fulfillments at a single location. For more information, see Associating an Employee with a Location.

Assign fulfillment locations to sales order lines automatically.

If the Automatic Location Assignment feature is enabled, you can use location records to represent your fulfillment locations and assign those locations to sales order lines automatically. NetSuite assigns locations to sales orders based on the customer shipping address, the fulfillment locations in your organization, and one or more rules that define the assignment criteria (such as the location type or the distance to the shipping address). For more information, see Automatic Location Assignment.
The Automatic Location Assignment feature is part of the Advanced Order Management module – contact your account representative for more information.
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The following settings for the Department Restrictions field on the Role page define department-related restrictions for transaction and customer records:

none - no default – There is no restriction on what can be selected. Record access is not determined by this field. A default selection does not appear.
none - default to own – There is no restriction on what can be selected. Record access is not determined by this field. Fields of this type will select the user by default.

own, subordinate, and unassigned – Users are restricted when selecting any of the employee, sales rep, or supervisor fields. Users are granted access to records belonging to their supervisor hierarchy. Users may only select themselves or their subordinates. If the select field is optional, then the user may leave the value unassigned. Note that unassigned is technically a null value when used for filtering.

own and subordinates only – Users are restricted when selecting any of the employee, sales rep, or supervisor fields. Users are granted access to records belonging to their supervisor hierarchy with the exception of unassigned records. Consequently, unassigned records are filtered and denied access. Users may only select themselves or their subordinates.
Check the Allow Viewing box to permit users logged in with this role to see, but not edit, records for departments to which the role does not have access.

Check the Apply to Items box to apply the department restrictions defined here to item records, in addition to transaction and customer records.
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Sales order

In NetSuite, there are several types of predefined sales order forms. You or an administrator can also create customized sales order forms.

Standard Sales Order – A standard sales order lets you create an invoice or a cash sale, based on whether you enter billing terms or a payment method. See The Standard Sales Order Form for more information.
Standard Sales Order - Cash Sale – When you bill this type of sales order, a cash sale transaction is created in the system.
Standard Sales Order - Invoice – When you bill this type of sales order, an invoice is created.
Standard Sales Order - Progress Billing – Progress sales orders can be billed at intervals according to the fulfillment progress of the goods or services. See Creating Progress Sales Orders for more information.

A sales order expresses a commitment to ship goods and or perform services. It has no accounting impact until items are shipped and an invoice or cash sale is created from the sales order to bill the customer for the items.

Note Whether you create an invoice or cash sale for the sales order depends on the sales order form you originally used to enter the order. The cash sale form generates a cash sale and the invoice form generates an invoice.
The steps used to convert a sales order into an invoice or cash sale depend on whether you have enabled the Advanced Shipping feature.

Without advanced shipping, you use a single process to fulfill and bill sales orders. Fulfilling a sales order automatically creates an invoice or cash sale from the sales order.
Using advanced shipping, there are separate processes for fulfilling sales orders and creating corresponding invoices or cash sales. For more information on advanced shipping, read Order Fulfillment.

The Standard Sales Order form automatically creates the appropriate billing transaction based on whether you enter a payment method or select payment terms on the sales order.

If you enter terms on a sales order, an invoice is automatically generated when it is billed. If you enter a payment method, a cash sale is automatically generated when it is billed. If you enter neither terms nor a payment method, it generates an invoice.

Important On a sales order, if you enter both a payment method and terms, the payment method takes precedence, and a cash sale is generated upon billing.
When payment terms are selected on a sales order, NetSuite does assess the credit limit if one is listed for the customer. When you select a payment method on a sales order, NetSuite does not assess the credit limit.

For example, an office supply retailer wants to offer customers a top-of-the-line printer that costs the retailer $3500. Because customers do not purchase the item often, the retailer does not want to keep the item in stock and tie up funds in inventory. The retailer can sell the item as a special order and purchase it from the vendor only when a customer orders it.

For the Report Customization permission, access levels work as follows:

NONE - Customize links are not available for reports.
VIEW - Customize links are available but return errors when clicked.
CREATE - Customize links are available, and display the Report Builder when clicked. Customized reports cannot be previewed, run, or saved.
EDIT - Customize links are available, and display the Report Builder when clicked. Users can customize, preview, run, and save reports.
FULL - Customize links are available, and display the Report Builder when clicked. Users can customize, preview, run, and save reports.
NetSuite recommends that a level of FULL be assigned when the Report Customization permission is assigned.

Customers, vendors, and partners other than advanced partners generally do not have access to saved searches, even those that are defined as public. If these types of users do gain access to a published saved search, they can run the search only if they have permission to view the search record type, and the search returns only their own records. However, if your saved search contains sensitive information, it is strongly recommended that you do not make it public, and instead use the fields on the Audience subtab to define a more limited audience.

Avoiding Divide By Zero Errors

If you use division in a formula, please use Y/nullif(X,0) in place of Y/X.

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