Setup and Administration

Question 1

What are the standard classifications in NetSuite?

Answer 1

Classes, Departments, Locations and Subsidiaries (for OneWorld)

Question 2

Which standard NetSuite classification is used to track transaction activity by department, division or other category?

Answer 2

Department

Question 3

Which standard classification does NetSuite recommend not be repurposed, why?

Answer 3

Location - just because you are not using multiple locations today does not mean you won’t in the future. Since location provide inventory management functionality including costing in multiple location environments it is best to reserve the classification for its intended purpose.

Question 4

What bonus classification is included in a OneWorld environment?

Answer 4

Subsidiaries

Question 5

What capabilities do standard NetSuite classifications provide?

Answer 5

1. ) The Chart of Accounts (COA) can be simplified by using classifications to segment financial reporting.
2. ) Permissions can be restricted based on classifications to provide a more granular security mechanism.

Question 6

What standard NetSuite classification is particularly useful to companies with multiple offices or warehouses?

Answer 6

Location

Question 7

Why might an administrator choose to disable one of the standard NetSuite classifications?

Answer 7

1. ) To reduce List data management efforts.
2. ) To prevent fields from being used without a consistent intentional purpose.
3. ) To reduce the number of fields required when entering a transaction.

Question 8

Where can you change the labels for NetSuite standard classifications?

Answer 8

Setup -> Company -> Rename Records / Transactions

Question 9

Where are NetSuite standard classifications configured?

Answer 9

1. ) Setup -> Company -> Enable Features allows standard classifications to be turned on and off.
2. ) Setup -> Company -> Rename Records / Transactions allows for renaming standard classifications.

Question 10

What is the advantage to standard NetSuite standard classifications when compared to custom segments?

Answer 10

NetSuite standard classifications can be used to restrict access, custom segments can’t.

Question 11

Why would you enable the Multiple Units of Measure feature at Setup -> Company -> Enable Features -> Company -> ERP General?

Answer 11

Enabling multiple units of measure allows the company to purchase, sell and stock inventory using different units and facilitates conversion between the different units of measure during transaction processing. Multiple units of measure are also required if a company plans to use statistical accounts to track non-monetary values.

Question 12

How can the administrator ensure that a deletion reason is logged when a transaction is deleted?

Answer 12

By enabling the Use Deletion Reason option at Setup -> Company -> Enable Features -> Company -> ERP General.

Question 13

How does NetSuite provide support for internationalization?

Answer 13

Under Setup -> Company -> Enable Features -> Company -> International the administrator can enable multi-language, multiple currencies and currency exchange rate integration capabilities to address internationalization needs. Further a OneWorld account can include subsidiaries with different editions to localize taxation and financial reporting.