Accounting Preferences Flashcards
Sections (5)
General Items/Transactions Order Management Time&Expense Approval Routing
Approval Routing
This will enable workflows: Expense Reports PO Bills Vendor Payments Vendor Prepayments Requisitions Time Entries Invoices Blanket PO Journals
Time&Expense
General:
show only projects on time and expense records as opposed to projects and customers
automatically notify supervisory when expense reports/purchase requests
Time Tracking: Override rates on time records Require approval on time records Time Billable by default Copy time memos to invoices Copy from week options min number of hours per week (disabled, enabled, workcalendar) - do not allow over or just warn max number of hours per week Min/Max number of hours per working day
Expenses: Expenses billable by default Items billable by default Combine categories on expense reports Copy expense memos to invoices Show warning for taxable expenses without receipts Allow non-reimbursable expenses on expense reports (scenario?) FX recalculation method
General
General Ledger:
use account numbers
use legal name
show all transaction types in rec including positive and negative of certain trans
expand accounts lists
cash basis reporting
ageing report by trans or due date
void transaction using rev journals
when voiding in closed periods set rev variance date equal to the reversing journal
summarize intercompany elimination journals
execute user events scripts e.g. suitescripts, suiteflows, after bulk journal approval
allow custom gl segment deletion (role permission is needed anyway)
enable accounting period window (current and future periods unlocked) how many
allow trans date outside of of posting period - disallow, allow, warn
GL Audit numbering method (only in the last month of fiscal year, quarter)when it’s run then even closed periods get renumbered (it must be enabled - enable feature as well as accounting period feature)
Posting period default if period is closed (current or first open)
Create and edit inventory trans dated in in closed periods
Allow quick close
Use consolidation with PEJ entries (only if multibooks is on) it creates a consolidation journal if PEJ is switched on.
Account Receivable:
show only open transaction on statements
open transactions by today or statement date
customer credit limit handling (nothing, warn, enforce)
custom credit limit includes sales orders
days overdue for warning/hold
include tax for term discounts
include shipping for term discounts
Accounts Payables: vendor limit warning yes no vendor limit includes orders (purchase orders) use-in-transit vendor payments by default and account default for it vendor prepayment (deposit) account vendor payment to be printed by default auto apply vendor prep allow consolidation of PO bills even when they have different terms
Classifications: mandatory dep, locations, class allow per line dep allow per line class allow per line classification on journals allow non balancing classif on journals allow empty class on journals
Rev Rec: revenue journals detail/summary default rev rec journal (last date / current) default def rev rec account use system % of completion for schedules
Classic Rev Rec:
def FX adjustment rev acc
allow users to modify rev rec schedules
allow rev commitments in advance of fulfulments
Amortization:
allow users to modify amortization schedules
default amortization journal date (last day of period or current date)
default amortization journal entry form
number of short term expense periods (max no of periods to show on waterfall report from 0 to 52)
Budget:
enable budget with elimination subs so budget for elim subs
Exchange Rate:
provider rate xignite/refinitiv
use triangulation calculation by netsuite
Items/Transactions
Accounts: Set default accounts Discount Accounts Expense/Income Accounts Default receivables, cogs, asset account (inv), payment account, gain/loss account, variance bill qty bill price bill exchange rate, unbuild variance, vendor return variance, customer return variance, production qty variance, production price variance, purchase price variance, inv cost rev account, def inv count account, def wip cost variance, option - anyone can set item accounts dropship expense account scrap account wip account def ICJE auto balance AR account def ICJE auto balance AP account default custom transaction accounts
Sales & Pricing:
to be able to select different project on each line
no of level of quantity pricing (on items)
allow qty discounts per prices level on schedules
include reimbursement in sales and forecast reports
include shipping in sales and forecast reports
List of trans to exclude from sales reports
List of trans to exclude from forecast reports
Charge-based billing: defaults for (ready or hold) - fixed date charge rule stage, milestone stage, project progress stage, time-based stage.
Inventory:
centralise purchasing in a single warehouse
warning for lot items expiry date
require bins on all trans except receipts
use preferred bin on item receipts
include landed cost on in last purchase price
print lot item labels from transactions by quantity
Cost Accounting:
inventory costing method - weighted average, FIFO, LIFO, Standard
Default cost category
Average cost completion unit cost (average cost or open WIP amount
Payment Processing:
Customers can pay online
create SO with payment online
use card security code
Other Transaction Preferences:
duplicate number warning (nothing, warn, warn&block)
Other Item Preferences:
Order Management
Sales Orders:
default status
require reapproval on edit of sales orders
send email confirmation when SO is cancelled to customer
default warehouse for SO
default commit on SO (available qty, do not commit, complete qty)
default commit on Work Orders (available qty, do not commit, complete qty)
default commit on Transfer Orders (available qty, do not commit, complete qty)
Item Commitment Transaction Ordering (order by expected ship date, order by order priority, order by trans date) how items are committed
Picking/Packing:
print kit items on picking tickets
show uncommitted items on tickets
show non inventory items on printed forms (services, discounts)
name for picked status (can be named anything)
name for packed status (can be named anything)
name for shipped status (can be named anything)
show drop ship items on packing slips
show additional items on packing slip (none, all items on order, unfulfilled items on order.
Fulfilment:
packing slip queue status
fulfil based on commitment (limit to committed, allow uncommitted, ignore committed)
default items to zero receive/fulfil
allow overage on item fulfilment
filter bulk fulfilment page by warehouses
send order fulfilment confirmation email
use website template for fulfilment email
update transaction date upon fulfilment status change
Invoicing:
show unfulfilled items on invoices
invoice in advance of fulfilment
convert absolute discounts to percentages
base invoice date on billing schedule date
Drop Shipping/Special Orders:
drop ship PO form
automatically email drop ship POS
queue drop ship POS for printing
automatically fax drop ship POS
limit vendor list on items
include committed quantities
update drop ship order quantities automatically prior to shipment
drop ship fulfilment quantity validation (unequal quantities)
allow both mark shipped fulfilment and receipts on a drop ship line (allow, don’t allow, warn)
update special orders quantities automatically prior to shipment
Purchasing:
allow expenses on purchases
allow purchase of assembly items
default warehouse for purchase orders
max lines to consolidate (default is 10 max is 250)
allow default email on purchase orders using suiteflow approval routing (allow, do not allow, warn only)
Receiving: allow overage on item fulfilments bill in advance of receipt default receiving exchange rate (PO or receipt date) use PO rates on bills landed cost allocation per line
Returns: default returns authorisation status (pending approval, pending receipt) refund in advance of return restock returned items write of accounts for return default vendor return status credit in advance of vendor returns
Transfer Orders:
default transfer order status (pending approval firm, pending approval open, pending fulfilment)
use item cost as transfer cost
default transfer order incoterms
Vendor Bills:
default vendor bill status
Intercompany Inventory Transfer:
update inco qties automatically prior to shipment
