Glossary Flashcards
Account type
A category of transactions for a general ledger account. In NetSuite, account types are
Accounts Payable, Accounts Receivable, Bank, Cost of Goods Sold, Credit Card, Equity, Expense, Fixed
Asset, Income, Long Term Liability, Non-posting, Other Current Asset, Other Current Liability, Other
Expense and Other Income.
Actions Menu:
This is a user interface element in NetSuite. The Actions menu contains a list of ancillary
actions that can be taken on the record. The options in the Actions menu vary depending on record
type.
Active configuration:
The automatic location assignment configuration currently selected for a
subsidiary. Only one configuration can be active per subsidiary.
Activity
In NetSuite, activities include CRM-related actions concerning customers, leads or prospects in
the form of phone calls, tasks, events, notes, messages and campaigns.
Add to Shortcuts:
A link on most NetSuite pages in the More menu. By clicking this link, you can add a
shortcut to that page on your NetSuite Home page. For example, if you work in the sales department
and frequently enter sales orders, add a shortcut to the Enter Sales Orders page.
Advanced Order Management:
A NetSuite add-on that makes the following two features available:
■ Automatic Location Assignment: Enables you to automate the assignment of fulfillment locations to
sales order lines based on business rules the user sets in a configuration record.
■ Fulfillment Request: Enables you to work with the fulfillment request transaction. The creation of
fulfillment requests can be automated.
Advanced Partner Center:
Customizable role you can assign to your partners in NetSuite and
NetSuite CRM+. The Advanced Partner Center gives a partner access to their customers, campaigns,
opportunities and sales orders as well as reports pertaining to partners.
Advanced promotion:
A Promotion created using the Advanced Promotions Bundle. In general,
Advanced Promotions have richer functionality than Standard promotions. There are three type of
Advanced Promotions: Item-based Promotions, Order-Based Promotions and BuyXGetY Promotions.
Aging report:
In NetSuite, a list of customers and how much money they owe you categorized by aging
periods.
Amortization schedule:
Records that indicate the posting periods in which expenses should be
amortized and the amount to be recognized in each period. Amortization schedules are generated for
vendor bills and credits containing items or expenses that have associated amortization templates.
Amortization template:
Records that define how to post expenses when the Amortization feature
is enabled. These templates are used to generate amortization schedules for associated items and
expenses.
Asynchronous:
In the context of web services, asynchronous refers to the ability to queue up multiple
web services requests and then poll the system at a later time for the results.
Audience:
In NetSuite, audience refers to the specific users, roles or groups who have access to certain
files or forms. You can also use NetSuite to publish a website or web page to a particular audience.
Choose an audience on the Audience subtab on applicable NetSuite records such as files, folders, and
website pages.
Auto-Apply Promotions:
A SuitePromotions feature that lets you automatically apply multiple
promotions to a transaction.
Automatic location assignment configuration:
A collection of automatic location assignment rules
and backorder rules. Automatic location assignment evaluates rules in the configuration in ascending order. Each subsidiary in a company can be assigned one configuration only, known as the active
configuration.
Automatic location assignment rule:
One or more criteria used by automatic location assignment to
determine the ideal fulfillment location for a sales order line. The criteria in a rule include:
■ Location type
■ Distance from shipping address
■ Option to minimize fulfillment locations
■ Fulfillment strategy
A rule is defined in a configuration, and becomes exclusive to the configuration when added to the list
of rules in the configuration.
Automation event
A business event used to automate aspects of order management in NetSuite
Automation process:
Refers to a business process in the Advanced Order Management add-on
that can be automated by NetSuite. Automation processes happen asynchronously. Examples of
automation processes include automatic location assignment (to assign fulfillment locations to sales
order lines based on one or more business rules) and fulfillment request creation (to create fulfillment
request records from sales orders).
Available Online box
A check box on records when information can be displayed online, such as items
and shipping items. Check this box to publish information or make an item available for purchasing or
viewing online.
Average costing
A method of costing inventory by dividing the beginning inventory cost plus the cost
of additions to inventory by total units available during the period. This is one method that you can use
to calculate your profit and the value of your remaining inventory. It is also called the weighted average
method.
Backorder rule:
An automatic location assignment rule that is evaluated by the engine after all other
rules have been evaluated and there are still sales order lines without a location assigned. Backorder
rules do not take inventory levels into account.
Balance sheet
An itemized statement of what an organization owns and owes at a particular time. The
balance sheet, which lists assets, liabilities and equity, is also referred to as the statement of financial
position.
Best Offer
A SuitePromotions feature that ensures the promotion or promotions that give the
customer the largest discount on the transaction available are applied to a transaction
Billable item:
An item your business purchases for a specific customer. In NetSuite, you can track
purchases made for customers and then invoice the cost back to them.
Billable time
The amount of time an employee spends working on a job for a specific customer. In
NetSuite, you can track time spent on a job for customers and then invoice the cost back to them.
Bins:
Bins identify locations within a warehouse to track exactly where items are stored. Use bins to
receive and fulfill items quickly and accurately, as well as track on-hand stock counts for each bin.
Buffer stock
The minimum quantity of stock that must remain available at a location for walk-in
customers. Automatic location assignment does not assign a fulfillment location if doing so causes the
inventory quantity at the location to drop below the buffer stock.
COGS:
Cost of Goods Sold. Cost of Goods Sold accounts track costs of goods used by your company.
These costs, incurred for purchasing or manufacturing the merchandise you sell, are used in inventory
costing calculations that affect the difference between gross income and gross profit.
CSV:
Comma separated value. A file format you can use for importing and exporting data in and out of
NetSuite.
Cache:
A memory space in your computer that holds temporary Internet files. Increasing the space you
set for this folder can increase how fast pages are loaded, but it also decreases the amount of space
available on your computer. NetSuite caches some pages to make load times faster.
Campaign:
A series of marketing efforts, such as email, phone, direct mail or printed advertisements,
used to generate leads and revenue. You can set up and manage campaigns in NetSuite or NetSuite
CRM+ when you enable Marketing Automation.
Case:
A record created to document a problem, question, or other feedback from a customer. Case
records can be assigned to support reps, who can use the case record to respond to the customer by
email or to document a support phone call. Cases are customer-facing records, whereas issues, are
internal company records.
Catalog tab
One of five tabs that appear to customers when they go to your Site Builder web store.
When customers click the Catalog tab, they view web store categories you create and then navigate to
the products and services they want to buy.
Category:
A division of customer and vendor records into groups you specify in NetSuite. Categories
help organize records to make it easier to manage your business. Use Accounting Lists to set up
customer, vendor or budget categories. You can use Web Site Categories in a Site Builder web store
to organize products for sale online. To set up categories for Site Builder, go to Lists > Web Site >
Categories.
Center:
The set of tabs each role has access to. For example, Administrators work in the Classic Center,
which has the Lists, Transactions, and Reports tabs. Accountants work in the Accounting Center, which
has the Customers, Vendors, Payroll and HR, and Financial tabs.
Child items
Typically used in an item matrix, child items are item records that are associated with the
same parent item record.
Class:
A way to separate and track records such as financials, transactions and employees. For
example, a janitorial service wants to track household and commercial accounts separately. After they
set up a class for each of these account types, they can track the financial performance of each class
over any period of time.
Closest location
A fulfillment strategy in an automatic location assignment rule. The closest location
strategy aims to assign the fulfillment location that is closest (in a straight line) to the shipping address.
Commitment:
The state of intent for an item in inventory. An item that is committed is intended to be
used to fulfill an open order. Tracking commitment enables you to determine how much stock on hand
is actually available to be sold. Commitment also helps you track how many to order when item stock is
low
Consolidated:
In NetSuite OneWorld, refers to a rollup of multiple subsidiaries’ data for a parent
subsidiary, as in reports, quotas and sales forecasts, and exchange rates. Note that in NetSuite,
consolidated payments do not relate to OneWorld, but instead refer to the rollup of subcustomer data
for a parent customer.
Cost of goods sold:
The costs incurred for purchasing or manufacturing the merchandise you sell.
These costs represent the difference between gross income and gross profit.
Correlation
The percentage of customers that purchased both the items you want to upsell and each
item in your upsell search results.
Coupon code
A discount code defined on a promotion
Credit card payment
A payment a customer makes using a credit card. In NetSuite, these payments
can take place over the Internet and are entered as a cash sale or customer payment. These payments
have immediate accounting impact on your books, and the proceeds are deposited directly into your
company’s bank account.
Crosslinks
Crosslinks enable you to navigate between pages centered around the same record type
rather than access these pages through menus. Typically crosslinks appear at the top of record pages.
Common examples of crosslinks are Search and List.
Customer:
The person or entity that buys goods from you or your business
Custom form:
A form you can modify based on the needs of your business
Customer Center
A user-restricted role that has permission to:
■ See current orders, estimates and transaction histories.
■ Enter an order.
■ Make payments on open invoices.
Customize menu:
This is a user interface element in NetSuite. The Customize menu is located in the
upper-right corner of all customizable records
Daily shipping capacity
Refers to the number of shipping orders that can be assigned to a location in
a one-day period. The daily shipping capacity usually has a direct correlation with the number of orders
that employees at the location are expected to be able to process in a one-day period.
The daily shipping capacity is defined on the location record.
Department:
A division or section of your business. Use departments to separate and track records
such as financials, transactions and employees. 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 period of time.
Deployment:
In the context of Server SuiteScript, a script deployment is a script that has been
associated with specific record types or scheduled to be run. There can be multiple deployments for
each defined script.
Disclaimer:
A statement or explanation of your company’s policies and terms. You can use a disclaimer
to familiarize your customers with important information about your company. In NetSuite, you can
print a disclaimer on custom forms
Discount:
An amount deducted from the usual list price of an item line or order total of a
transaction. Discounts are applied to transactions via promotions.
Discount item
An accounting tool used in NetSuite, to track discount amounts without affecting
inventory valuation. It can also specify which account, if any, the promotion should be posted to.
Display code:
A field on an item record where you can enter a number, in addition to the item name,
that is used to identify that item. It appears as a column in your items list and in the Item column on
invoices. This field is optional.
Display name
A field on an item record where you can enter a name, in addition to the item name,
that is used to identify that item. It appears as a column in your items list and in the Item column on
invoices. This field is optional.
Drill down
Click a link in a list, report, or register to view, or edit at a more detailed level. For example,
you can drill down on a check by clicking the date of the check to see when it was written or when it
cleared the bank.
Dunning director
A custom role provided by the Dunning Letters SuiteApp. It is based on the standard
Accountant role, with additional permissions to access dunning features.
Dunning manager
A custom role provided by the Dunning Letters SuiteApp. It is based on the
standard A/R Clerk role, with additional permissions to access dunning features.
Dunning procedure
A record that defines the escalation points or dunning levels, and the time
that must elapse before a dunning letter is sent to a customer. It is a custom record provided by the
Dunning Letters SuiteApp.
Dynamic defaults
When working with custom free-form text, text area, rich text or hypertext fields,
you can include NetSuite tags in the default definition. These tags are populated with field values when
the page is loaded or saved.
Dynamic group
A group of relationship records created from a saved search. Because the set of
criteria for the group is saved, new records that fit the criteria of the group are automatically added to
the group.
Dynamic hyperlink
A hyperlink field that has a dynamic default defined for it. This is useful when
the exact URL is unknown until information is collected for the record or if information specific to the
current logged in session is required as part of a URL parameter.
EITF
Emerging Issues Task Force. EITF 08-01 Revenue Recognition is a NetSuite revenue recognition
feature that automates the pricing and revenue allocation processes required to comply with EITF
08-01 accounting rule. This rule requires companies selling products and services with multiple
elements to report both recurring and non-recurring revenue items based on estimated selling prices.
This feature is available as a managed SuiteApp. EITF 08–01 is currently referred to as Accounting
Standards Codification (ASC) 605–25, but the name of the SuiteApp has not changed.
Employee Center
A user-restricted role that has permission to:
■ See approved and unapproved expense reports, purchase requests and time reports.
■ Enter expense reports, purchase requests and time.
■ Edit unapproved expense reports and purchase requests.
Entity:
Entity records include those records that define people or organizations such as company,
contact, vendor, and employee records.
Evaluation order
The sequence in which automatic location assignment evaluates rules in a
configuration. Rules are evaluated in ascending order (from lower to higher numbers).
Event:
Time you set apart on your calendar for something such as a meeting, lunch, or another
scheduled task. You can invite other people and reserve resources when you create events.
Exclusive promotion
A promotion that cannot be combined with another promotion on the same
transaction.
Executive Dashboard
The home page customized with portlets, snapshots, and enhanced snapshots.
The home page can be customized with information specific to each user’s preferences
Export:
The process of transferring data from NetSuite into another program
Facets:
Used exclusively in SuiteCommerce Advanced, facets are item attributes that shoppers can use
to filter their searches for products on your site. Brand, price, and color are examples of facets.
Fair value price list
List of the records that define the fair value for items. Fair value price is used to
allocate revenue in revenue arrangements
Field sets
In SuiteCommerce Advanced, field sets define the item data exposed to website templates.
Field sets include real-time data from item records in your NetSuite account. A web developer can use
the Item Search API to access the field sets you define. For more information, see the help topic Field
Sets.
FIFO:
First in first out. In this inventory costing method, the first goods purchased are assumed to be
the first goods sold so that the ending inventory consists of the most recently purchased goods. This is
one method that you can use in NetSuite for valuing inventory
Featured item
An item placed on the Home page of your Site Builder web store to make that item
more visible in your store. You can feature more than one item at a time.
Financial statement
A report that summarizes an organization’s financial position. Financial
statements include the balance sheet, income statement, and statement of cash flows. In NetSuite financial statements differ from other available financial reports in the following ways: they group
data by financial sections, they store report characteristics in layouts, and they have a specialized
customization interface, the Financial Report Builder.
Fixed price promotion
A promotion that offers an item at a fixed price, rather than offering a specific
amount off an item.
Foreign trade
Transactions with companies or individuals outside of your country or the tax
jurisdiction of your government. In NetSuite, this setting in the system’s tax preferences allows access
to tax codes which apply to these types of transactions.
Fulfill in bulk
To process multiple sales orders simultaneously for a single fulfillment location and
mark them as fulfilled. Processing occurs in the background. Sales orders can be fulfilled in bulk by
importing a CSV file or by selecting the sales orders on the Fulfill Orders page.
Fulfillment location
A location that prepares and ships an order to a customer. Fulfillment locations
can be of type Warehouse or Store.
Fulfillment strategy
The method by which you want NetSuite to assign locations automatically to
sales order lines. For example, the “closest location” strategy assigns the location that is closest to the
shipping address in a straight line.
Geographical restriction
In an automatic location assignment rule, refers to limiting to a list of possible fulfillment locations based on distance from the shipping address. Only locations within the specified radius (expressed in miles or kilometers) of the shipping address are taken into account by the automatic location assignment engine.
Geolocation method
The way by which NetSuite calculates the geographical position of a location.
NetSuite can get the position by calculating the center point of the area encompassed by a postal code
or by using the latitude and longitude coordinates entered on the location record.
Governance:
Refers to mechanisms in place to monitor and control the use of automated functions,
such as web services calls or the execution of SuiteScript scripts, to optimize NetSuite application and
database servers.
Grand total
When customizing a report, this option is available for certain default columns and for
columns added to reports. Checking this option adds a total and subtotal to the column of the report.
Greeting:
In the context of your NetSuite web store, the greeting is a message you can display on the
Catalog, Information, My Account and Home pages. This greeting appears in bold at the top of the page
you apply it to.
Gross profit
An amount that appears on the income statement and is calculated by subtracting the
cost of goods sold from sales revenue. Gross profit is also called gross margin. NetSuite’s Gross Profit
feature allows the estimation of gross profit per transaction using the estimated item costs and any
proposed price discounts.
Handler:
The action or process performed by the business events framework in response to a business
event that occurs on a record. For example, when a sales order is approved, the Automatic Location Assignment handler is called and
the process to assign locations automatically is initiated.
Highest ranked location:
A fulfillment strategy in an automatic location assignment rule. This strategy
aims to assign the location that is ranked the highest in the region in which the shipping address is
located.
Home:
The first page in the NetSuite application. Home is where you arrive when you log in. You can
customize the home page for each role in your NetSuite account.
Hosting:
A service that enables you to store HTML and other website files for publishing on the
Internet. The NetSuite file cabinet provides the Web Site Hosting Files folder to host your custom HTML
website pages.
Hosting root
NetSuite provides two hosting root folders for your website: Live Hosting Files folder
and Staging Hosting Files folder. Use the hosting root to associate a site with a particular domain. The
hosting root folder is the top level folder in the file cabinet where you can store files for a website.
Import:
The process of transferring data from another system into NetSuite
Income statement
A financial statement that shows an organization’s revenues, expenses, and net
income over a period of time. This report is also called a profit and loss statement or an earnings
statement.
Internal ID:
Records and forms in NetSuite each have a unique internal ID. The internal ID is useful
when writing SuiteScript and when referring to custom records and custom fields. Internal IDs are also
useful for understanding the default URL parameters in your web store. You can set a preference to
always view internal IDs for records on lists. To set the preference, go to Home > Set Preferences. On
the General subtab in the Defaults section, check the Show Internal IDs box.
Inventory adjustment
A journal entry that credits an asset account for inventory and debits an
expense account for inventory loss because of spoilage, theft, or miscount
Inventory minimum
The least amount of inventory a company should carry to meet customer
demand. You can set a reorder point on each item record, and then select inventory level warnings in
the Home page preference. NetSuite will notify you automatically when your inventory reaches the
quantity you entered.
Inventory part
In NetSuite, an item you stock and sell. You can track the amount and value you have
on hand
Issue:
A record used to document a product problem, or defect that needs to be resolved. This is an
internal-facing record, as opposed to a case, which is a customer-facing record.
Items:
Records that track objects you utilize or services you provide in day-to-day business. Items
may be inventory items that you buy and sell, assemblies you manufacture, or services you provide to
customers. They can be electronic files to download or gift certificates that record prepayment. Items
such as discounts or markups can affect pricing on transactions. For information on the many item
record types available in NetSuite, see the help topic Item Types.
Item coupon
Coupon code with a discount that is only applied to specific items
