Netsuite Accounting Period

Hi All,

Accounting period is one of the most talked feature in any ERP tool, this is very import part of general ledger management. Accounting period as name suggest is used to post each transaction for defined period( it could be past or future). If this feature is not used all transactions will be posted in real time and will impact whole business.

To use this feature user first have to enable Accounting Period
Setup > Company > Setup Tasks > Enable Features

Once period is enabled then manage period using Setup > Accounting > Manage G/L > Manage Accounting Periods.

Accounting Periods

If you have any history data , you have to find enable feature and then set up accounting period.

If you are using One World , you have to set up different fiscal calendars based on different subsidiary. Fiscal calendar defined different fiscal year with different start and end date.Example in USA fiscal year could be different compare to china.

User can close , or reopen Accounting period, if user want to reopen accounting period which have many other Accounting period then user have to reopen those period first. Example: Jan, Feb, Mar, April are closed, you want to open Feb then you have to reopen Aril first then March then Feb. 

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Thanks
Netsuite Guru