Netsuite Account

Hello Everyone,

We often hear about Account in Netsuite, today I am going to explain little bit about Account, how to access it and which are standard mandatory fields, so lets start.

This is one of very first step you have to do in Netsuite while setting it up. You can either use Import functionality to import Accounts or go to Account and create one.
You will need permission to set up account though.
There are multiple Account type:

1. Income Statement Account:  COGS, Expense,Income, Other Income, Other Expense

2. Balance Sheet Account type: Account payable , Account receivable. Bank, Credit Card, Equity etc.

3. Cash Flow Statement Account: Net of Income and Other Income, Account Payable, Accounts Receivable etc.

4. Statistical Account: Like earning per share.


To create Account in Netsuite:

Setup > Accounting > Manage G/L > Chart of Accounts > New
Some times
Lists> Accounting> Account > New

Account in Netsuite

 Mandatory Field:
Name
Number
Account Type
Default Unit
Subsidiary