Which three requirements can be addressed using standard NetSuite functionality in accounting preferences?
A. Automatically Email Drop Ship P.O.s.
B. Send Order Fulfilled Confirmation Emails.
C. Send Email Confirmation when Sales Order Updated.
D. Send Email Confirmation when Sales Order Canceled.
E. Automatically Email Sales Rep on Sales Order Approval.
A. Automatically Email Drop Ship P.O.s.
B. Send Order Fulfilled Confirmation Emails.
D. Send Email Confirmation when Sales Order Canceled.
A company has decided to use the Class segment to track product lines on sales. They would like to force users to
enter a value in this field and have configured the system to show the class field at the line level of transactions.
Which two configurations are required to meet these requirements?
A. Set a default value based on the Class of the current user.
B. Enable the accounting preference Make Classes Mandatory.
C. Disable the accounting preference Make Classes Mandatory.
D. Create a dummy value called “No Class” to select on transactions where a product line is not applicable.
B. Enable the accounting preference Make Classes Mandatory.
D. Create a dummy value called “No Class” to select on transactions where a product line is not applicable.
Which action is recommended for undesired accounts in preparing for go-live?
A. Leave undesired accounts active to avoid disabling features.
B. Leave undesired accounts active in case transactions post to them.
C. Inactivate undesired accounts to remove them from searches and reports.
D. Inactivate undesired accounts to prevent transactions from posting to them
B. Leave undesired accounts active in case transactions post to them.
What is a benefit of viewing Chart of Accounts with Show Inactives Marked?
A. Accounts can be sorted by subsidiary.
B. The Inline Editing option becomes available.
C. Amounts posted to inactive default accounts are visible.
D. Inactive and delete checkboxes can be used to disable features.
C. Amounts posted to inactive default accounts are visible.
Which three valid characteristics affect setting up and assigning NetSuite default segments
(Department/Class/Location)?
A. Locations are available for tracking inventory.
B. Segments can be used to restrict data access.
C. Segments can be defined in relation to each other.
D. Only Classes can be configured for Commissions.
E. Departments can be defined in a hierarchy for reporting purposes.
A. Locations are available for tracking inventory.
B. Segments can be used to restrict data access.
E. Departments can be defined in a hierarchy for reporting purposes.
Which segment combinations require SuiteScript?
A. Limit Account to specific Classes
B. Limit Class to specific Departments
C. Limit Account to specific Subsidiaries
D. Limit Department to specific Subsidiaries
B. Limit Class to specific Departments
Which two statements are true about the Multiple Calendars feature?
A. Without this feature, Tax Periods are the same as Accounting Periods.
B. Without this feature, the Tax Years are the same across all subsidiaries.
C. With this feature, U.S. and Canadian subsidiaries can utilize Tax Period functionality.
D. With this feature, different fiscal calendar definitions can be used on the same subsidiary for accounting
and tax periods.
B. Without this feature, the Tax Years are the same across all subsidiaries.
D. With this feature, different fiscal calendar definitions can be used on the same subsidiary for accounting
and tax periods.
What is the impact of enabling the “Void Transactions Using Reversing Journals” setting?
A. It displays a VOID button on the transaction and voids the Journal Entry.
B. It displays a VOID button on the transaction and creates a Reversing Journal Entry.
C. It displays a CANCEL button on the transaction and allows a manual Journal Entry to be associated.
D. It displays a CANCEL button on the transaction and negates the GL impact, making the transaction nonposting.
B. It displays a VOID button on the transaction and creates a Reversing Journal Entry.
Which functionality is included when the Consolidated Payments feature is enabled?
A. The credit limit set on individual subcustomers records is enforced.
B. Consolidated Unbilled Orders are shown as a sublist on the customer record.
C. The A/R Aging report shows the un-consolidated balance for each subcustomer.
D. Only consolidated statements for the entire customer-subcustomer can be printed.
C. The A/R Aging report shows the un-consolidated balance for each subcustomer.
A company has customers with centralized purchasing departments that buy products for multiple locations at the
same time. The customers want the products shipped to different locations from the same order. Which two features and/or functions in NetSuite need to be enabled?
A. Advanced Shipping
B. Shipping Label Integration
C. Multiple Shipping Routes
D. Enable Line Item Shipping
C. Multiple Shipping Routes
D. Enable Line Item Shipping
A company’s corporate policy requires re-approval for any changes made to approved sales orders prior to fulfillment. A sales order was entered, approved and then changed but did not go back through the approval process.
Why did this sales order not go back through the approval process?
A. The change was made by the originator of the sales order.
B. The “Require Re-Approval on edit of Sales Order” preference is not set.
C. The change did not affect the dollar amount of the order, therefore no re-approval is required.
D. The change was made by a user with Administrator rights.
B. The “Require Re-Approval on edit of Sales Order” preference is not set.
A customer has multiple open sales orders on file. A customer deposit is applied to the wrong sales order.
What is the process to unlink the deposit from the sales order to allow it to be applied to a different one?
A. Delete the Deposit Application record.
B. Change the sales order form to a cash sale.
C. Once linked, deposits cannot be unlinked and need to be credited or deleted.
D. On the Customer Deposit, the sales order field will be a drop down. Choose the appropriate sales order to link it to
B. Change the sales order form to a cash sale.
What are two considerations for shipping integration?
A. Shipping Items track profitability per Sales Order.
B. Tracking numbers assigned on the Fulfillment flow backward to the Sales Order.
C. Both Fedex and UPS support use of negotiated rates when charging customers for shipping.
D. Shipping Items can be used by multiple subsidiaries, as long as they have the same base currency.
C. Both Fedex and UPS support use of negotiated rates when charging customers for shipping.
D. Shipping Items can be used by multiple subsidiaries, as long as they have the same base currency.
Which statement is true about enabling the Multi-Location Inventory feature?
A. It is recommended to fulfill all open orders after enabling Multi-Location Inventory, before distributing
inventory.
B. The quantity and valuation on inventory reports will not include the quantity distributed per locations.
C. The Enable Multi-Location Inventory feature can be enabled anytime after enabling the Inventory Feature.
D. The Multi-Location Inventory feature can be disabled anytime after distributing inventory.
C. The Enable Multi-Location Inventory feature can be enabled anytime after enabling the Inventory Feature.
An employee reports eight hours of consulting services for three days to the same customer.
Which two invoicing preferences option will produce an invoice with 24 hours of time at the billable rate?
A. Group Time by Employee
B. Combine Time Items on Invoices
C. Bill Employee Costs To Customer
D. Combine Employee Time on Invoices
A. Group Time by Employee
B. Combine Time Items on Invoices
A company sells yearly service contracts for $1,000 that require a 10% initial fee. These are sometimes discounted. They bill at the end of each month.
How should the billing schedule for this company be configured? Which three settings would be correct?
Recurrence frequency is monthly.
A. Initial amount set to $100
B. Initial amount is set to 10%
C. In Arrears is Enabled
D. In Arrears is disabled
E. Recurrence count is 11
F. Recurrence count is 12
B. Initial amount is set to 10%
C. In Arrears is Enabled
F. Recurrence count is 12
Match the Revenue Recognition Feature with how it can be used.
- Revenue Commitment
- VSOE
- Revenue Recognition Schedule
- Revenue Recognition Template
A. Shows list of Revenue Recognition Journal Entries to be generated
B. Allows auto-allocation of revenue across elements sold in a bundle
C. Allows recognition of revenue before invoicing
D. Allows definition of % of revenue to be recognized up front
- Revenue Recognition Schedule – A. Shows list of Revenue Recognition Journal Entries to be generated
- VSOE – B. Allows auto-allocation of revenue across elements sold in a bundle
- Revenue Commitment – C. Allows recognition of revenue before invoicing
- Revenue Recognition Template – D. Allows definition of % of revenue to be recognized up front
With credit card integration enabled, what happens when a standalone cash sale (no preceding sales order) is saved with a Credit Card payment type selected?
A. Authorize a credit card only.
B. Charge/capture a credit card only.
C. Authorize and charge/capture a credit card
C. Authorize and charge/capture a credit card
Which statement is true about the default impact of receiving a customer return?
a. The returned item is added to available inventory.
b. The returned item is marked as an expense.
c. The returned item is added to a “Repair” location.
d. The returned item has no impact on inventory on hand count.
a. The returned item is added to available inventory.
What impact does the manager commission schedule have on the commissions a Manager receives?
A. Manager schedules have no impact on the commission the Manager receives. It is only used for reporting purposes.
B. Manager schedules calculate commission for Sales Managers based on the sales they make only. Employee commissions do not affect the Manager.
C. Manager schedules calculate commission for Sales Managers based on the sales made by Sales Reps they supervise as well as the sales they make directly.
D. Manager schedules calculate commission for Sales Managers based on the sales made by all Sales Reps regardless of reporting structure as well as the sales they make directly.
C. Manager schedules calculate commission for Sales Managers based on the sales made by Sales Reps they supervise as well as the sales they make directly.
Which Center Type is used to grant Customers access to “My Account”?
A. Sales Center
B. Customer Center
C. Accounting Center
D. My Account Center
E. Ecommerce Center
E. Ecommerce Center
A company is a big box retailer of kitchen appliances. Every kitchen appliance sold has a unique 13-digit alphanumeric code that every consumer must reference when doing the following:
· Registering their product online for a factory warranty
· Returning a defective appliance back to the manufacturer
Which feature most fully meets this company’s needs given these requirements and characteristics?
A. Lot-numbered Inventory
B. SKU numbers
C. Serialized Inventory Items
D. Auto-Generated Numbers
C. Serialized Inventory Items
Which two statements are true about Intercompany Inventory transactions?
A. Drop ship and Special Order are both supported between subsidiaries.
B. Pick, Pack, Ship is an option for inter-company transfers, just as for fulfillment of sales to customers.
C. Inventory must be valued at the same cost in the new subsidiary as the cost in the originating subsidiary.
D. There is an “In Transit” option for inventory, during which time it is not counted as an asset for either subsidiary.
A. Drop ship and Special Order are both supported between subsidiaries.
B. Pick, Pack, Ship is an option for intercompany transfers, just as for fulfillments of sales to customers.
Which three actions are supported using assembly functionality?
A. including service items as a component in the assembly
B. including components that are serialized or lot-numbered items
C. tracking replacement of one component with another similar component
D. tracking variation in the quantities of components from one batch of assemblies to the next
A. including service items as a component in the assembly
B. including components that are serialized or lot-numbered items
D. tracking variation in the quantities of components from one batch of assemblies to the next
A company wants to introduce tighter controls on their inventory costing by leveraging the “Landed Cost” feature.
Which two statements are true about Landed Cost setup features?
A. Multiple Landed Cost Categories can be applied to an Item Receipt.
B. Landed Cost can be allocated by Weight, Cost, Quantity, or manually overwritten.
C. Multiple Bills can be linked to the same Landed Cost Category on the Item Receipt.
D. Both the Inventory Item, and the Landed Cost Item must be marked Landed Cost = True.
E. A freight bill can be linked to multiple Item Receipts and allocated automatically between them.
B. Landed Cost can be allocated by Weight, Cost, Quantity, or manually overwritten.
D. Both the Inventory Item, and the Landed Cost Item must be marked Landed Cost = True.
Match the pricing use-case to the method to determine the quantity pricing. (Not all choices will be used)
A. _ Pricing is applied according to the quantity included in the line item. B. Pricing is applied for all line items for the same item on a transaction.
C. __ Pricing is applied for all items in the same hierarchy.
- by Line Quantity
- by Overall Item Quantity
- by Overall Parent Quantity
- by Overall Pricing Group Quantity
A. _ Pricing is applied according to the quantity included in the line item. 1. by Line Quantity
B. _ Pricing is applied for all line items for the same item on a transaction. 2. by Overall Item Quantity
C. _ Pricing is applied for all items in the same hierarchy. 3. by Overall Parent Quantity
A company’s purchasing department creates purchase orders for everything they order and needs to enter the vendor bill prior to the goods being received.
What needs to be configured in NetSuite?
A. Nothing; this is default functionality.
B. Enable Bill in Advance of Receipt functionality.
C. Click Receive and Bill when the vendor invoice arrives.
D. Configure a workflow to allow the bill to be entered prior to receiving the goods.
B. Enable Bill in Advance of Receipt functionality.
A purchasing department needs to track defective items that are returned to the vendor for replacement or credit.
What two settings need to be configured in NetSuite?
A. Enable the Vendor Return Authorizations feature
B. Enable the Credit in Advance of Vendor Return preference
C. Use the standard Vendor Activity report.
D. Customize the Inventory Activity Detail to filter by transaction type, and add column for Vendor RMA status.
E. Customize the A/P Register to filter by transaction type Vendor Returns, and add a column for Item Name.
A. Enable the Vendor Return Authorizations feature
C. Use the standard Vendor Activity report.
Which statement is true regarding the Fixed Asset Management setup option to “Restrict Ability to Reject Proposals”?
A. If this option is checked, only users with the Fixed Asset Management Role can reject proposals.
B. If this option is not selected, all NetSuite users will have the ability to reject asset proposals.
C. If this option is checked, only NetSuite Administrators can reject proposals
D. If this option is checked, only users with the “Reject Proposal” permission can reject proposals
C. If this option is checked, only NetSuite Administrators can reject proposals
The Sales Manager of a company manages 4 sales teams. In order to establish the value of an incentive bonus,
she will measure each team’s performance using a month-by-month comparison, taking into account the
following information:
- The increase in company sales since the previous evaluation
- Each team’s relative contribution to the overall results
- Each team’s size
Which Dashboard feature will provide the information?
A. KPI Scorecard portlet
B. Custom Search portlet
C. A combination of trend graphs and report snapshots
D. A combination of reminders in the reminder portlet and KPI Meters
A. KPI Scorecard portlet
Match the SQL code with its result:
A. NULLIF
B. IS NULL
C. CASE
D. TO_CHAR
E. DECODE
- To avoid divide by zero errors: if result is zero, replace with null
- Returns value based on different conditions
- Display “Unassigned” in results if blank
- Display date by day of the week
- Compares 2 values, then returns specified parameter if they match
A. NULLIF – 1. To avoid divide by zero errors: if result is zero, replace with null
C. CASE – 2. Returns value based on different conditions
B. IS NULL – 3. Display “Unassigned” in results if blank
D. TO_CHAR – 4. Display date by day of the week
E. DECODE – 5. Compares 2 values, then returns specified parameter if they match
Which setting on a saved search will email only the assigned Sales Rep when search criteria are met?
A. Specific Recipients tab > Recipient = Sales Rep
B. Recipient from Results tab > Recipient Field = Sales Rep
C. Updated Fields tab > Send On Update field = checked
D. Send Email Alerts When Records are Created/Updated field = checked
B. Recipient from Results tab > Recipient Field = Sales Rep
When building a saved search where “Use Expressions” checkbox = True, which two are requirements in the setup?
A. Available Filter in the Filter Region must not use the same field as the Criteria
B. Parentheses must balance
C. Audience must be set to Allow Audience to Edit
D. Parentheses must be used on every line
A. Available Filter in the Filter Region must not use the same field as the Criteria
B. Parentheses must balance
An Invoice Saved Search needs to display the items and original quantities from the sales order.
Which Join relationship in the Results Columns should be used to retrieve the information?
A. Created From Fields…
B. Billing Transaction Fields…
C. Applying Transaction Fields…
D. Applied To Transaction Fields…
E. Fulfilling/Receiving Transaction Fields…
A. Created From Fields…
A customer needs to report outgoing order information from several warehouse locations. For each warehouse, the report needs to display the following:
- Number of orders
- Number of fulfillments
- Total value of fulfilled orders
- Total volume fulfilled
What is the most efficient solution to fulfill the requirements?
A. Use a custom report based on Quantity Fulfilled Metrics.
B. Use a Saved Search using Summary functionality on the Results Columns.
C. Add a sublist of transactions to Warehouse Location records with a transaction type filter displayed in the footer.
D. Develop a scripted solution creating a custom record to capture the information every time an order is saved and fulfilled.
B. Use a Saved Search using Summary functionality on the Results Columns.
Which formula below would require a custom search formula because it is not supported by a custom report
formula?
A. Percent Difference of X ((x-y)/x)*100
B. Ratio x/y
C. Difference x
D. (x+y)/40
D. (x+y)/40
In order to customize the Sales by Sales Rep Report, to compare Sales results across multiple time periods, which field can be added under Edit Columns to be set with Alternate Date Range options?
a. Date Created
b. Sales Rep
c. Amount (Gross)
d. Date
c. Amount (Gross)
What are two recommended practices when publishing dashboards?
A. Label publishing roles to identify them.
B. Create one publishing role per dashboard.
C. Have one dashboard for the entire organization.
D. Create separate publishing roles for each center.
A. Label publishing roles to identify them.
D. Create separate publishing roles for each center.
A customer is using Custom Records to track customer satisfaction surveys.
What data will NetSuite show when creating a list view for that Custom Record in the Customer Center?
A. All customer surveys are visible to all customers.
B. Only the customer surveys for the logged in customer.
C. Only the customer surveys for the logged in customer if the customer filter is applied.
D. No customer surveys are returned, as Custom Records cannot be linked to the Customer Center.
C. Only the customer surveys for the logged in customer if the customer filter is applied.
Match the setting to its definition.
Answer options may be used only once.
A. _ Causes the system to check for conflicting updates when users attempt to save updates to a custom record instance. B. Allow records to be edited directly when they display as a sublist.
C. Allow records to be edited directly when they display as a list. D. _ Tracks all changes made to a record.
- Enable Optimistic Locking
- Enable Inline Editing
- Enable System Notes
- Allow Child Record Editing
A. _ Causes the system to check for conflicting updates when users attempt to save updates to a custom record instance. 1. Enable Optimistic Locking B. Allow records to be edited directly when they display as a sublist. 4. Allow Child Record Editing
C. Allow records to be edited directly when they display as a list. 2. Enable Inline Editing D. _ Tracks all changes made to a record. 3. Enable System Notes
A company uses a custom transaction body field to track information on sales orders. The field should populate with the supervisor of the current user.
What is the simplest way to set the default value for this field?
A. Utilize NetSuite’s inline editing capabilities.
B. Create a workflow to set the field value using conditional criteria.
C. Create a custom user role and set the employee restriction field to “none – default to own”.
D. Set a dynamic default of “Current User’s Supervisor” on the “Validation & Defaulting” tab when setting up the custom transaction body field.
D. Set a dynamic default of “Current User’s Supervisor” on the “Validation & Defaulting” tab when setting up the custom transaction body field.
Which statement is true about custom fields with a display type of disabled?
A. A disabled field can display a default value
B. A disabled field will not display without default value.
C. A mandatory field cannot be disabled unless the field has a default value.
D. If the field does not have default, sourced or custom code information, it will not display on the form.
A. A disabled field can display a default value
D. If the field does not have default, sourced or custom code information, it will not display on the form.
Match the method for restricting a user onto a specific custom form, with the implication of that method. Use each answer once.
A. Hide or disable the custom form field
B. Clear the Enabled checkbox for all other custom forms under Customize Role > Forms
C. Use the Restricted checkbox under Customize Role > Forms
D. On the custom form, mark Preferred for the user’s role
- Role could get access to other new custom forms
- Other users, like Administrators, would not be able to switch out of this custom form
- User still has access to other custom forms
- This is the best method
A. Hide or disable the custom form field (2. Other users, like Administrators, would not be able to switch out of this custom form)
B. Clear the Enabled checkbox for all other custom forms under Customize Role > Forms (1. Role could get access to other new custom forms)
C. Use the Restricted checkbox under Customize Role > Forms (4. This is the best method)
D. On the custom form, mark Preferred for the user’s role (3. User still has access to other custom forms)
A company has created a custom HTML form layout for their Sales Order. When they go to test the form printing and then emailing a sample Sales Order, the printed and the emailed versions look very different. What would explain this?
A. They forgot to clear their cache before printing the transaction
B. The transaction form is not using the layout they just created in the Print Template field
C. The end user’s Home > Set Preferences have the wrong transaction forms selected
D. The customer is in a different subsidiary from the end user
B. The transaction form is not using the layout they just created in the Print Template field
A company has two types of customers – Wholesale and Retail. A custom field, “Channel”, is created to manage this requirement and is set up on the customer record and on transactions.
The company wants to ensure the correct channel is always selected on the order without scripting. Wholesale customers go through a manual entry and approval process. There are several thousand Retail customers with approximately 400 orders per day.
What is the recommended way this should be implemented? Choose 2.
A. The Entity Field defaults to Wholesale and is changed to Retail manually.
B. The Transaction field sources the value from the entity.
C. The Transaction field is always set manually.
D. The Entity Field defaults to Retail and is changed to Wholesale manually.
B. The Transaction field sources the value from the entity.
D. The Entity Field defaults to Retail and is changed to Wholesale manually.
What is the impact of using the “Filter Using” setting when creating a custom Transaction Body field, beyond allowing the user to source data onto the transaction?
A. This field specifies from which field the information is copied.
B. This field specifies the record type from which information is copied.
C. This field allows dynamic filtering of the list/record field using multiple attributes.
D. This field allows the dynamic filtering of the list/record field by a particular attribute.
D. This field allows the dynamic filtering of the list/record field by a particular attribute.
Which format of a custom field ID is recommended by NetSuite?
A. custbody_[number]
B. custbody_[field name]
C. custbody_[date][number] D. custbody[company identifier][field name] D. custbody[company identifier]_[field name]
What is the impact of changing an Asset account on item records?
A. The account will be changed on all transactions using that item.
B. Only open transactions will have the account changed.
C. If there are transactions with that item in closed periods, the account cannot be changed on the item record.
D. The account will be changed for transactions only in open periods; transactions in closed periods will not be
changed
C. If there are transactions with that item in closed periods, the account cannot be changed on the item record.
Which two can be enabled by NetSuite Customer Support?
A. Disable Delete All Data.
B. Bulk Transaction Delete.
C. Trigger a COGS recalculation.
D. Recalculate Consolidated Exchange Rates.
B. Bulk Transaction Delete.
C. Trigger a COGS recalculation.
A customer uses custom fields to track recall information about their items. The Quality Manager needs to know
when values have changed and by whom. Some of the data for the item recall is provided by vendors in CSV
format.
Which CSV option should be selected when importing the updated information from the vendor?
A. Add and Overwrite Sublists
B. Add and Log System Notes for Custom Fields
C. Update and Log System Notes for Custom Fields
D. Add or Update and Validate Mandatory Custom Fields
C. Update and Log System Notes for Custom Fields
A company has bought a marketing file with lists of potential Lead companies with contact names. Order the steps for the CSV import.
A. ___Plan data file manipulations and import validation process.
B. ___Validate Imported Data.
C. ___Import Customer records.
D. ___Segregate Customer and Contact information into separate data files.
E. ___Import Contact Records.
A. ___Plan data file manipulations and import validation process. 1
B. ___Validate Imported Data. 5
C. ___Import Customer records. 3
D. ___Segregate Customer and Contact information into separate data files. 2
E. ___Import Contact Records. 4
Upon Go-Live on NetSuite, a customer wants to run comparative sales reports for month by month, covering the last two years.
Match the approaches with their implications. Use each answer once.
A. _ Import invoices for last two years. B. Import Journal Entries for each month of last two years.
C. Persuade the customer to forego this requirement. D. _ Import custom records in place of transactions.
- It may require creation of items no longer being sold and it affects GL.
- Enter opening balances dated to two years ago.
- After running NetSuite for two years, comparative reports will then be available
- This will not show on financial reports.
A. _ Import invoices for last two years. – 1. It may require creation of items no longer being sold and it affects GL.
B. _ Import Journal Entries for each month of last two years. – 2. Enter opening balances dated to two years ago.
C. _ Persuade the customer to forego this requirement. – 4. This will not show on financial reports.
D. _ Import custom records in place of transactions. – 3. After running NetSuite for two years, comparative reports will then be available
Match the strategy for entering on hand count for go-live with available options.
Answer options may be used more than once, or not at all.
A. _ Assign Quantity On Hand at the time of creating Item records. B. Enter the Inventory Worksheet on the day of go-live.
C. Enter the Inventory Adjustment on the day of go-live. D. _ Enter purchase transactions on the day of go-live.
- Manual Entry, CSV Import, Web Services. Valid in non-OneWorld only
- Manual Entry, CSV Import, Web Services, OneWorld does not matter.
- Manual Entry and CSV Import only
- Manual Entry and Web Services only
A. _ Assign Quantity On Hand at the time of creating Item records. – 1. Manual Entry, CSV Import, Web Services. Valid in non-OneWorld only
B. _ Enter the Inventory Worksheet on the day of go-live. – 3. Manual Entry and CSV Import only
C. _ Enter the Inventory Adjustment on the day of go-live. – 4. Manual Entry and Web Services only
D. _ Enter purchase transactions on the day of go-live. – 2. Manual Entry, CSV Import, Web Services, OneWorld does not matter.
Which two permissions will allow a user to impact data in bulk?
A. SuiteScript
B. Web Query
C. CSV Import
D. Export Lists
E. Publish Search
A. SuiteScript
C. CSV Import
Which two use cases can be met using only custom role configuration (no scripting)?
A. Allow to Edit already existing Fulfill Sales Order transaction only, but not Create new Fulfill transactions.
B. Use the same custom role for all Sales Reps, automatically limiting them to see only data in their own subsidiary.
C. Define some fields on Sales Reps restricted Sales Order form to be editable when in Create mode, but then locked in Edit mode.
D. Restrict Sales Manager to Edit and View Orders from only Sales Rep reporting to them, yet allow them to assign Customer to any Sales Rep in the company
B. Use the same custom role for all Sales Reps, automatically limiting them to see only data in their own subsidiary.
D. Restrict Sales Manager to Edit and View Orders from only Sales Rep reporting to them, yet allow them to assign Customer to any Sales Rep in the company
Which 3 requirements can be addressed using standard NS functionality in Accounting Preferences?
- Automatically Email Drop Ship PO’s, 2. Send Order Fulfilled Confirmation Emails, 3. Send Email Confirmation when SO is cancelled.
A company has decided to use the Class segment to track product lines on sales. They would like to force users to enter a value in this field and have configured the system to show the class field at the line level of transactions. What 2 configs are required?
- Enable the account pref: Make Classes Mandatory, 2. Create a dummy value called “No Class”
Which action is recommended for undesired accounts in preparing for go-live
Leave undesired accounts active in case transactions post to them
What is a benefit of viewing Chart of Accounts with Show Inactives Marked
Amounts posted to inactive default accounts are visible
Which 3 valid characteristics affect seeting up and assigning NS default segments (Dept/Class/Location)
- Locations are available for tracking inventory, 2. Segmenets can be used to restrict data access, 3. Departemnets can be defined in a hierarchy for reporting purposed
Which segment combinations require SuiteScript?
Limit Class to specific Departments (no Script required: Limit account to specific Class or subsid, and limit dept to subsid)
Which two statements are true about the Multiple Calendars feature
Without this feature, the Tax Years are the same across all subsids, AND With this feature, different fiscal calendar defs can be used on the same subsid for accounting & tax periods
What is the impact of enabling the “Void Transactions Using Reversing Journals” setting
It displays a VOID button on the transaction and creates a Reversing JE
All multi-curr features are enabled in a One-World account. What does the Base Currency column with a value of “Yes” mean
The currency is used on subsidiary records or the company information
Which functionality is included when the Consolidated Payments feature is enabled
The A/R Aging report shows the un-consolidated balance for each sub customer
A company has customers with centralized purchasing departments that buy products for multiple locations at the same time. The customers want the products shipped to different locations from the same order. Which 2 features need to be enabled?
Multiple Shipping Routes & Enable Line Item Shipping
A company’s corp policy requires re-approval for any changes made to approved sales orders prior to fulfillment. A SO was entered, approved, then changed but did not go back thru the approval process. Why?
The “Require re-approval”pref is not set
A customer has multiple open SO’s on file. A customer deposit is applied to the wrong sales order. What process to unlink?
Change the SO to a cash sale
What are 2 considerations for shipping integration
Tracking numbers assigned on the fulfillment flow back to the SO, and Both FedEx and UPS support use of negotiated rates
Which statement is true about enabling the Multi-Location Inventory feature?
The Enable Multi-Lccation Inventory feature can be enabled anytime after enabling the Inventory Feature
An employee reports eight hours of consulting services for 3 days to the same customer. Which 2 invoicing prefs will produce an invoice within 24 hours of time at the billable rate?
Group Time by Employee, and Combine Time Items on Invoices
A company sells yearly service contracts for $1,000 that require 10% initial fee. These are sometimes discounted. They bill at the end of the month. What’s the settings
Initial Amount set to 10%, In Arrears is Enabled, Recurrence count is 12
Revenue Commitment
Allows recognition of revenue before invoicing
VSOE
Allows auto-allocation of revenue across elements sold in a bundle
Revenue Recognition Schedule
Shows list of Rev Rec JE to be generated
Revenue Recognition Template
Allows definition of % of rev to be recognized up front
With credit card integratino enabled, what happens when a standalone cas sale is saved
Authorize and charge/capture credit card
Which statement is true about the default impact of receiving a customer return
Returned item is added to available inventory
What impact does the manager commission sched have on the commissions a manager receives
Manager schedules calculate commission for Sales Managers based on the sales made by Sales Reps they manage, as well as the sales they make directly
which center type is used to grant customers access to “My Account”
Ecomm Center
A company is a big box retailer of kitchen appliances. Each appliance has a unique 13-digit alphanumeric code
serialized inventory items
Best practice for ensuring accurate inventory quantities
Create an inventory adjustment where each line item represents the item cycle counted and its corresponding difference
Which two statements are true about intercompany inventory transactions
Drop Ship and Special Order are both supported between subsidiaries, AND Pick Pack Ship is an otion for Interco transfers
which 3 actions are supported using assembly functionality
Including Service Items, Serialized, Lot Number Items, and tracking variation in quantities of components
which 3 statements are trure about landed cost setup features
- Multiple Landed Cost Categories can be applied to an Item receipt, 2. Landed Cost can be allocated by Weight, Cost, Quantiy, or manual, 3. Both the Inventory Item and the Landed Cost item must be marked Landed Cost = TRUE
Landed Cost can be by
Weight, Cost, Quantity, or manual
Pricing applied according to the quantity included in the line item
by Line Quantity
Pricing is applied for all line items for the same item on a transaction
by Overall Item Quantity
Pricing is applied for all items in the same hierarchy
by Overall Parent Quantity
Purchasing department creates PO’s and needs to enter the vendor bill prior to the goods being received
Enable Bill in Advance of Receipt functionality
Purchasing department needs to track defective items that are returned to the vendor replacement or credit. What settings?
Enable the Vendor Return Auth, and Use the standard Vendor Activity report
Which statement is trure regarding the Fixed Asset Management setup option to “Restrict Ability to Reject Proposals”
If this option is checked, only NS Admin can reject proposals
The Sales Manager manages 4 teams. Which dashboard feature to show increase in company sales, relative contribution to overal, and team size
KPI scorecard portlet
To avoid divide by zero errors; if the results is zero, replace with null
NULLIF
Returns value based on different conditions
CASE
Display “unassigned” in results if blank
IS NULL
Display date by day of the week
TO_CHAR
Compares 2 values, then returns specified paramenter if they match
DECODE
Which setting on a saved search will email only the assigned Sales Rep
Recipient from results
When buliding a saved search where “use expressions” is checked, which 2 requirements?
- Available Filter in the Filter region cannot be same as the Criteria, 2. Parenthesis must balance
An Invoiced Saved Search needs to display the Items and Original quantities from the SO. Which join relationship
Created from fields
A customer needs to report outgoing order information from several warehouse locations
Use a Saved Search using Summary functionality on the Results columns
Which formula would require a custom search formula because it is not supported by a custom report formula?
(x+y)/40 (Supported includes: Percent Diff, Ratio, and Difference)
Alternate Date Range options
Date
What are 2 recommended practices when publishing dashboards
Label publishing roles to identy, Create separate publishing roles for each center
Custom record to track customer satisfaction survey. What data will show in the Customer Center
none – Custom records cannot be linked to the Customer Center
Enable Optimistic Locking
causes the system to check for conflicting updates when users attempt to save updates to a custom record instance
Enable Inline Editing
allow records to be edited directly when they display as a LIST
Enable System Notes
tracks all changes made to a record
Allow Child Record Editing
allow records to be edited directly when they display as a SUBLIST
A company uses a custom transaction body field to track informatino on SO’s. The field should populate with the supervisor of the current user
Set a dynamic default of “Current User’s Supervisor” on the Validation & Defaulting tab when setting up the custom transaction body field
Which statement is true about custom fields with a display type of disabled
A mandatory field cnanot be disabled unless the field has a default value
T/F: A disabled field can display a default value
FALSE
T/F: A disabled field is not available for transaction line (column) fields
FALSE
T/F: If a field does not have a default, sourced, or custom information, it will not display on a form
FALSE
Hide or disable the custom form field
Other users, like Admins, would not be able to switch out of this custom form
Clear the Enabled checkbox for all other custom forms under Customize Role > Forms
Role could get access to other new custom forms
Use the Restricted checkbox under Customize Role > Forms
This is the best method
On the custom form, mark Preferred for the user’s role
User still has access to other custom forms
printed and email versions of a custom HTML form look different, explain
the transaction form is not using the layout they just created in the Print Template field
What is the impact of using the “Filter Using” setting when creating a custom Trans Body field, beyond allowing the user to source data onto the transaction?
This field allows the dynamic filtering of the list/record field by a particular attribute
There is an “in Transit” option for inventory during which time it is not counted as an asset for either subsidiary
FALSE
what is the format of a custom field ID recommended by NS
custbody_[company identifier]_[field name]
What is the impact of changing an Asset account on item records
If there are transactions with that item in closed periods, the account cannot be changed on the item record
Which two can be enabled by NS customer support
Bulk Transaction Delete, and Trigger a COGS recalculation
which csv option should be selected when importing to track custom fields?
update and log system notes for custom fields
Order steps for CSV import
- plan, 2, segregate, 3 import customer, 4 import contacts, 5 validate
What is the implication of: import invoices for the last two years
it may require creation of items no longer being sold, and it affects GL
what is the implication of: import JE for each month of the last two years
Enter opening balanceds dated to two years ago
what is the implication of: persuade the customer to forego this requirement
After running NS for two years, comparative reports will then be available
what is the implication of: import custom records in place of transactions
this will not show on financial reports
which permissions allow a user to impact data in bulk?
suitescript, csv import (NOT web query, export lists, publish search)
Assign quantity on hand at the time of creating item records
manual entry, csv import, web services, valid in non-one world only
enter the inventory worksheet on the day of go-live
manual entry and csv import only
enter the inventory adjustment on the day of go-live
manual entry and web services only
enter purchase transations on the day of go-live
manual entry, csv import, web services, one world does not matter
124 subsidiaries, plus 1 root (125) maximum
inactive subsidiary does not count towards the total
If subsidiaries share multple Nexuses, setup in the correct order
- International Tax, 2. Subsidiary, 3. Tax Agency, 4. Nexus, 5. Tax Codes, groups, schedules, types, periods
6 tax editions
International, US, Japan, UK, Canada, Australia
contacts associated with 1 sub may be linked to a customer/vendor associated with another sub
transactions are never against the contact
sub-customers associated with 1 sub can be linked to parent customers associated with another sub
only if accept payment thru parent is disabled
tax period
expressly for the tax reporting in all non-US & non-Canada editions, & set up is similar to the setup of accounting periods
nexus
defines jurisdiction in which you collect & pay sales and/or purchase taxes; required component of Advanced tax functionaltiy
tax control account
define tax types & contain GL postings of indirect taxes such as VAT and sales tax
tax type
defines where the paid or collected tax is tracked on the balance sheet & used to define tax codes
tax code
determines tha amount of tax applied to each line item on your transaction
tax group
combines several tax codes that can then be applied to a transaction
tax schedule
determines how NS calculates taxes for items within each nexus
tax agency
defines a vendor record as the taxing authority to which taxes are paid on behalf of customers, from the tax code
Year End Automatic Close
no JE required, closing the period per a normal close will finalize the year
Year End Manual Close
manually post the year end journal entry to zero amounts in P&L and post to Retained Earnings
consolidated exchange rates
3 rates are maintained for each period-parent-subsidiary: current, average, historical
consolidated exchange rates versus currency exchange rates
Consolidated applies to: consolidated reports, set per accounting period, base currency for one pair of related subsidieares, manually edited in the Consolidated Exchange Rates Table
consolidated exchange rates versus currency exchange rates
Currency exchange rate applies to: transactions, “as of” effective date, base currency and one foreign currency, manually add new rows to Currency Exchange Rates
each subsidiary has a base currency
subsids can manage & report their books in local currency
currency list must include the base currency of each subsid and any other currency in which transactions will be recorded
use consolided exchange rates to translate transactions and balances between base currency & the currency you are reporting in (1 of the parent currencies)
normally the base currency is the local currency, but reporting that subsid in the context of the different parent, and then translate (using the consolidated rate) to report in the parent’s currency
you can change the primary currency on a customer or vendor record, resets the default for transactions, credit limits, and aggregate balance
If primary currency is changed you must re-enter the credit limit, cannot remove any currencies which have transactions against them
advanced inventory management
calculate reorder based on historical data; assumes demand is mostly constant; reordering based on reorder point may create excess inventory
demand planning
order based on the expected demand
demand planning calculation
based on: outstanding CRM data (opps, quotes, SO’s, ), projection of historical demand; provides ability to use the sales history of another item for calculations
service items
allow tracking of time & recording billable hours
Assembly items
Members: non inventory & other charges; item price is INDEPENDENT of members; separate COGS, income from components; decrease asset accounts of member items and increase asset account of the assembly
kit items
item price is INDEPENDENT of members; separate INCOME acct; decrease asset of components
item groups
INDEPENDNT price; accounts specified on members; descrease asset of members; Only GROUPS allow you to change members on the fly on the transaction record
inventory Items, assemblies, and service items
can all be members of Assemblies, Kits, and Item Groups
adjust inventory transaction
inclusive of stock total; lot number and serialize are visible; if no cost then adustment has zero value and no GL impact
adjust inventory worksheet
exclusive of previous stock total – resets the count to the quantity entered; uses average cost so it overrides FIFO/LIFO
Advanced receiving
needed to be able to receive & bill pay separately
Advanced shipping
needed to be able to fulfill & invoice separately
invoice in advance of receipt
AP
invoice in advance of ship
AR
transaction types supporting asset creation
Assembly build, vendor bill, inventory adjust, inventory transfer, item receipt, journal, credit card, check, expense report
2 pages where asset records can be created from transactions
Asset Proposal & Asset Creation
Asset Proposal
review the list of proposed assets & select which ones to create asset records for
Asset Creation
skips the proposal stage and creates the new assets
best practice for fixed assets
use proposals or asset creation versus manual; proposals keeps the link between GL & fixed asset
default payment account blank
payments received go to Undeposited funds
record groups
Entities, Transactions, CRM, Items, Custom
SuiteBuilder
look and feel, fields STATIC – custom fields & records
SuiteFlow
automate the process, used for approval processing DYNAMIC
SuiteScript
extend the capabilities of NS; most versatile. Process bulk transactions during off-peak to not affect performance
SuiteTalk
integrate external systems with NS, compatible with SOAP
SuiteAnalytics
get information that’s relevant to you, search, dashboard, KPI – saved searches, reports, odbc
SuiteBundler
package up your customizations for deployment
SuiteBuilder
customize form before execution: role-based preferences; default data; change labels; display; set fields mandatory; add buttons
SuiteFlow
customize form during execuition; conditionally enables, defaults, etc
SuiteFlow examples
approval processing; reminder emails; lead nurturing; drip marketing; automation based on related records
SuiteScript only examples
custom server requests from browser; create transactional records; sublist manipulation; redirect user to suitelet; udpate related records; copy print delete attach records; web services calls; scripted portlets
suiteflow does not do anything with portlets
TRUE
suiteanalytics
edit data from results; use as portlet; attach to a record as a sublist; dynamically obtain data
suiteflow limitations that can be implemented with suitescript
accessing sublists; calling web services; updating other records; initiating a workflow on related records; designing complex business logic
workflow triggers – client side
before user submit, before record submit
workflow triggers – server side
scheduled, before record submit, after field edit, before user edit, after field sourcing, edit
use external ids when importing:
- entities with parent/child relationships; 2. entities using auto-generated numbers; 3. external ids make it easier to import transactions and CRM records by avoiding use of EntityIDs
3 options for entering go-live AR & AP transactions
- customer/vendor > financial tab > opening balance; 2. import or manual recreation of fully detailed bill; 3. use a fake non-inventory item tagged to uncategorized account (preferred)
3 ways to enter go-live inventory count
1.enter on hand count upon create; 2. adjust inventory; 3. adjust inventory worksheet
inventory worksheet
csv importable; point in time inventory count
adjust inventory
user interface; will not create a static number for go live; can be imported using suitetalk web services
Take the sample exam online here.
Revenue Recognition – Revenue Commitment
Separates the billing and revenue recognition functions, enabling you to recognize revenue and bill customers at different times and to recognize revenue in amounts that differ from the amounts billed to customers.
A revenue commitment is a non-posting transaction. It serves as the placeholder for the revenue recognition schedule that generates the posting revenue recognition journal entries
Revenue Recognition – Revenue Recognition Schedule
Determined the journal entries that need to be generated to record the impact of item sales.
Revenue Recognition – Revenue Recognition Template
Indicate how revenue from associated items should be posted
Landed Cost – Landed Cost can be by
Weight, Cost, Quantity, or manual
Item Pricing – Pricing applied according to the quantity included in the line item
Item Pricing – Pricing is applied for all line items for the same item on a transaction
Item Pricing – Pricing is applied for all items in the same hierarchy
To avoid divide by zero errors; if the results is zero, replace with null
Returns value based on different conditions
Display “unassigned” in results if blank
Display date by day of the week
Compares 2 values, then returns specified parameter if they match
Custom Records – Enable Optimistic Locking
Custom Records – Enable Inline Editing
Allow records to be edited directly when they display as a LIST
Custom Records – Enable System Notes
Tracks all changes made to a record
Custom Records – Allow Child Record Editing
Allow records to be edited directly when they display as a SUBLIST
True or False: A disabled field can display a default value
True or False : A disabled field is not available for transaction line (column) fields
This field allows the dynamic filtering of the list/record field by a particular attribute
Tax – If subsidiaries share multiple Tax Nexuses, what is the correct order
Tax – What are the 6 tax editions in NetSuite
International, US, Japan, UK, Canada, Australia
Transactions are never against the contact
Sub-customers associated with 1 sub can be linked to parent customers associated with another sub
Only if accept payment thru parent is disabled
Defines a period over which your company tracks tax. A tax period can be a month, a quarter, or a year, depending on the frequency of your tax submissions or what your business has agreed with the local tax agency. You can run monthly, quarterly, or annual VAT/GST reports in NetSuite.
Available in all non-US & non-Canada editions
A nexus is a tax jurisdiction. Nexuses are part of the NetSuite Advanced Taxes feature, required for NetSuite OneWorld.
Each subsidiary must be associated with at least one nexus. The first nexus is automatically assigned to a subsidiary based on the country entered for the subsidiary’s address. A subsidiary can have more than one nexus. A nexus and its related tax items can be shared by multiple subsidiaries.
Determine how NetSuite calculates taxes for items in each nexus.
These vendors represent taxing authorities to whom you pay collected taxes.
Manually post the year end journal entry to zero amounts in P&L and post to Retained Earnings
Consolidated Exchange Rates vs. Currency Exchange Rates
Consolidated applies to: consolidated reports, set per accounting period, base currency for one pair of related subsidiaries, manually edited in the Consolidated Exchange Rates Table
Currency exchange rate applies to: transactions, “as of” effective date, base currency and one foreign currency, manually add new rows to Currency Exchange Rates
item price is INDEPENDENT of members; separate INCOME acct; decrease asset of components
Inventory Items, Assembly Items and Service Items
Can all be members of Assemblies, Kits, and Item Groups
Inventory – Adjustment Inventory Worksheet
Uses average cost so it overrides FIFO/LIFO
Use this worksheet to enter changes to quantity or value of inventory items other than lot numbered items, serial numbered items, or inactive items.
The Adjustment Inventory Worksheet is exclusive of previous stock total – resets the count to the quantity entered.
When you use the Adjust Inventory Worksheet with LIFO or FIFO costing, the cost of any item you adjust is averaged. NetSuite ignores LIFO or FIFO, and your costing history is lost.
Advanced shipping gives your shipping and accounting departments separate processes for fulfilling and billing orders. Your shipping department fulfills part or all of an order when it is ready to ship. Then, your accounting department creates an invoice or cash sale for the shipped items and rendered services.
FAM – Transaction types that support asset creation
FAM – What are the 2 pages where asset records can be created from transactions
Asset Proposal & Asset Creation
Enables you to create assets automatically without the need to propose them first.
When you use the Asset Creation feature, you can specify the start and end dates of the transactions for which you want to create an asset. However, you will not be able to select individual transactions to generate asset records for.
FAM – What are the best practice creating for fixed assets
use proposals or asset creation versus manual; proposals keeps the link between GL & fixed asset
What happens when Default Payments Account blank
Payments received go to Undeposited funds
What are the 5 record groups in NetSuite
Entities
Transactions
CRM
Items
Custom
With the SuiteBuilder customization tools, you can tailor NetSuite to your individual business needs and processes. SuiteBuilder provides a point-and-click interface for creating fields, forms, record types, transaction types, form layouts, segments, and centers. SuiteBuilder also lets you can define how information is accessed and entered by each user of your NetSuite account.
Use SuiteFlow to create and execute workflows in NetSuite. A workflow is the definition of a custom business process for a standard or custom record in NetSuite. Business processes can include transaction approval, lead nurturing, and record management. A workflow defines and automates the business process.
You can use NetSuite’s SuiteScript scripting language to extend NetSuite and customize, search for, and process your NetSuite data. SuiteScript enables full-featured application-level scripting capabilities that support sophisticated procedural logic on both the client and server sides. A SuiteScript Debugger is also available for debugging server scripts.
Integrates external systems with NS
Compatible with SOAP
Dashboards
Workbook
Search
Reports
Connect
Approval processing
Reminder emails
Lead nurturing
Drip marketing
Automation based on related records
True or False : Suiteflow does not do anything with portlets
Suiteflow limitations that can be implemented by using Suitescript
Workflow triggers – Client side
Before User Edit
Before Field Edit
After Field Edit
After Field Sourcing
Before User Submit.
Workflow triggers – server side
Scheduled,
Before Record Load
Before Record Submit
After Record Submit
Why use External Id’s when importing
Opening Balances – List 3 options for entering go-live AR & AP transactions
List 3 ways to enter go-live inventory count
1. Enter on hand count upon item create.
2. Adjust inventory.
3. Adjust inventory worksheet.
Shipping – Shipping item limited to 1 subsidiary
Address Verification (AVS),
Card Verification Value (CVV)
FAM – If ‘Restrict Ability to Reject Proposals’ is selected, what is the outcome?
Only users with the Administrator role can reject FIxed Asset Proposals.
Make sure the custom form is selected in advanced CSV settings
You can use the Adjust Inventory page to change the quantity and value of an inventory item without entering a purchase order. The form is inclusive of the previous stock total. in other word is adds the qty to stock.
If you use the LIFO or FIFO costing methods, enter an inventory adjustment to change the quantity and value of an inventory item. This adjustment preserves the costing history of the item.
What is best practice to edit transactions that are in a closed period?
Where can the foreign exchange rate be configured to the historical exchange rate?
What are the conditions for accepting consolidated payments for child customers?
Both Parent and child must using the be in the same currency and in the same subsidiary
On which record do you enter tracking number, if you are NOT using a shipping integration?
What happens when there is a credit card on a sales order?
1. Authorize
2. Charge/capture (upon fulfillment)
1. Customer center – a role, accessible from netsuite.com
Analytics – Review the SQL functions
Which NetSuite edition doesn’t calculate tax out of the box?
Which field type to use for which scenario?
1. Hidden
2. Normal
3. Inline
4. Disabled
How to restrict a role to a custom form?
1. Hide or disable custom form field – other users would not be able to switch out of this custom form
2. Clear the enabled checkbox for all other forms under Customize Role > Forms – Role could get access to new custom forms
3. Use the restricted checkbox under Customize Role > Forms – this is the best method
4. On the custom form, mark preferred for the user’s role – user can still access other forms
How can a Mass Deletes be performed?
A. Inline
B. Suitescript
C. Delete all data
D. CSV import
B. Suitescript
C. Delete all data
What which transactions causes postings to COGS?
1. Cash Sale
2. Standalone invoice
3. Item fulfillment
4. Credit Memo
How to prevent returned items from being added back into inventory?
1. Clear re-stock option on item record
2. Enter write-off account on item return record
How to view files without NS login?
File cabinet – ‘Make all Files available without Login’
Chart of Accounts : Which GL account types can only be linked with a single subsidiary?
Analytics – KPI Scorecard vs. KPIs vs. KPI Meter
Permissions – Why use global permissions?
Global permissions apply to all of a user’s roles & and supersedes permissions set on role
SuiteFlow – Can SuiteFlow trigger SuiteScript
What are the credit card hold settings?
1. Ignore – doesn’t matter if customer has met or exceeded their credit limit
2. Warn Only – Generates a warning when transaction is entered that puts a customer at or above the limit
3. Enforce holds – blocks entry of transaction for a customer at or above the limit
4. Days overdue for warning/hold – # of days overdue to generate warning or enforce hold
Revenue Recognition – Revenue recognition options
1. Revenue commitment – allows rev rec before billing
2. Rev rec schedule – shows list of revenue recognition journal entries to be generated
3. Rev rec template – Allows for definition of % of revenue to be recognized up front
4. VSOE – recognizes products that are sold as a bundle, price is the FMV that is recognized, not the invoice amount
What are the various inventory statuses in NetSuite?
What item types to use on a custom gift basket that includes a perishable?
1. Lot numbered inventory
2. Lot assembly
My Account – only available from the eCommerce site
If your subsidiaries have different base currencies, you can maintain a table of consolidated exchange rates to ensure that for consolidation purposes, currency amounts properly roll up from child to parent subsidiaries.
Each consolidated exchange rate translates between the base currency of a subsidiary and the base currency of its parent or grandparent subsidiary, for a specified accounting period.
3 rates are maintained for each period-parent-subsidiary: Current, Average, Sistorical
Consolidated Exchange Rates – Current rate
The effective exchange rate at the end of a selected period
Consolidated Exchange Rates – Average rate
Consolidated Exchange Rates – Historical rate
Yearend closing – Automatic Close
Yearend closing – Manual Close
Tax – What happens if my tax period is not set up?
Automated Intercompany Eliminations
Expense Amortization schedules
After the Amortization feature has been set up, amortization schedules are generated for purchase transactions containing items or expense lines that have associated amortization templates. Each schedule indicates the posting periods in which expenses should be recognized, and the amount to be recognized in each period.
Chart of Accounts – Realized Gain/Loss
Realized gains and losses resulting from payment application
Chart of Accounts – Unrealized Gain/Loss
Unrealized gains and losses resulting from month-end open balance revaluation
Chart of Accounts – Unrealized Matching Gain/Loss
Matching unrealized gains and losses from funds deposited
Base currency adjustments
Chart of Accounts – Rounding Gain/Loss
Gains and losses resulting from rounding differences.
In a OneWorld account, multiple subsidiaries can pay taxes to the same tax agency. When you add a subsidiary, and its nexus is the same as that of an existing subsidiary, NetSuite creates a copy of the preferred tax vendor for that nexus to associate it with the new subsidiary. This copy (known as a child or shadow vendor) is necessary because tax agency vendors cannot be shared between subsidiaries.
Consolidated Customer Payments
Consolidated Customer Payments – Features
When you select a top-level customer the Invoices subtab shows both the invoices entered for the top-level customer as well as the open invoices for each of its sub customers.
When a top-level customer is selected on the Payment page, the Deposits and Credits subtabs list all the deposits and credits entered for the top-level customer and its subcustomers. These credits and deposits can be applied to any of the open invoices entered for the top-level customer or its sub customers.
If you allow customers to make payments through the Customer Centre, top-level customers can make payments on their invoices or the invoices of their subcustomers. They can also apply any credits or deposits to these invoices
Consolidated Balance Fields – Consolidated Balance
The total of all open invoices for the entire customer-subcustomer hierarchy.
Consolidated Balance Fields : Overdue
Shows the total overdue balance for all customers and subcustomers in the hierarchy.
Consolidated Balance Fields – Days
The number of days the consolidated overdue balance is past due.
Consolidated Balance Fields – Consolidated Deposit Balance
The total amount of unapplied deposits for all subcustomers and customers in this hierarchy.
Consolidated Balance Fields – Consolidated Unbilled Orders
Consolidated Balance Fields – Consolidated aging fields
Consolidated Payments – Credit Limits and Holds
You can use special orders to purchase and track items that might not follow regular inventory processing, such as “just-in-time” orders or orders for customized items.
They do impact your inventory asset accounts or affect your stock count. You can special order any inventory items and non-inventory for resale items
Shipping – Multiple Shipping Routes
A unique combination of:
* shipping address
* shipping carrier
* shipping method
* origin address
Features – Sales Order : Requiring Re-approval
* FedEx
* UPS
* USPS
* By Weight
* By Item
* Percentage of Total
* Shipping Table
The Pick, Pack, and Ship feature allows greater flexibility to process and track the status of orders through the fulfillment and shipment processes. You use separate transactions to pick the items from inventory, pack the items to prepare them to be shipped, and then ship the items to their destination.
Inventory – Multi-Location Inventory
Inventory – Inventory Distribution
After you have enabled the Multi-Location Inventory feature, you must perform a distribution before you can enter inventory transactions.
Note the following before you distribute Inventory.
* NetSuite recommends that you distribute inventory during non-peak business hours.
* Your data is most accurate if you distribute all unassigned inventory at one time and make no changes to transactions dated before the distribution. If you change earlier transactions and then return to Distribute Inventory, the Undistributed column may show an incorrect or negative quantity. To correct for this error, go to Transactions > Inventory > Adjust Inventory.
* Inventory is distributed only if the stock level is 0 or greater.
GL Impact – Invoice Created from Sales Order
Debit – Accounts Receivable
Credit – Sales.
Debit – COGS
Credit – Inventory Assets
Credit – Sales
Debit – Bank
GL Impact – Standalone Invoice
Debit – COGS
Credit – Inventory Assets
Credit – Sales
Debit – Bank
Invoice Preferences – Combine Time Items on Invoices
Group all time items into one total on invoices.
Invoice Preferences – Group Time by Employee
Group billable time by employees when you combine time items on invoices.
Invoice Preferences – Combine Expense Items on Invoices
Combine all expense items into one total on invoices.
Invoice Preferences – Group Expenses by Employee
Groups billable expenses by employees when you combine expense items on invoices
Invoice Preferences – Combine Billable Items on Invoices
Combine all billable items into one total on invoices.
Invoice Preferences – Group Billable Types on Invoices
Invoice Preferences – Show Billable Subtotals on Invoices
Revenue Recognition – Revenue Recognition Template Types
Revenue Recognition – Custom Revenue Recognition Method
The Custom method enables you to define revenue recognition terms that include uneven periods, amounts, and multiple income accounts.
For example, you can define a custom schedule as:
* 1st period – 40% of net income posts to income account 4000, 10% to account 4001
* 2nd period through 6th period – 10% of net income to posts to account 4002.
Revenue Recognition – Revenue Recognition Term Source
Revenue Recognition – Revenue Recognition Period
Revenue Recognition – Revenue Recognition Period Offset
You can define an Offset value for a revenue recognition template to delay the start of a schedule. Two types of Offset are available:
* Period Offset moves the entire recognition period ahead by x number of periods, keeping the same number of periods.
* Start Offset delays the beginning of recognition, changing the number of periods, and keeping the same end date.
Revenue Recognition – Revenue Recognition Initial Amount
1. Customer places an order.
2. NetSuite securely sends an authorization request together with the order information to a payment gateway.
3. The payment gateway formats the transaction and securely routes the authorization request to the payment processor or clearing house.
4. The transaction is routed to the issuing bank (shopper’s bank) to request placing a hold on the shopper’s funds.
5. The transaction is authorized or declined by the issuing bank.
6. The payment gateway forwards the processing result to NetSuite.
7. If the issuing bank authorizes the transaction, an order is submitted in NetSuite with a Pending Fulfillment or Pending Approval status.
A transaction that decreases the amount a customer owes you.
GL Impact – Customer Credit Memos
Debit – Sales.
Credit – Accounts Receivable.
Commission – Employee Commission Schedules
Items – Assembly/Bill of Materials
An assembly item is an inventory item made of several components but identified as a single item. Assemblies are manufactured by combining raw materials you stock. You create an assembly item record to define the members of an assembly. Then, your account tracks stock separately for the assembly item and for each member component
Items – Lot Numbered Assembly Item
Items – Serialized Inventory Item
Items – Lot Numbered Inventory Item
An item group is a unit composed of items from your inventory. An item group is a short cut for entering a group of items on a sales or purchase order that need to be sold or purchased together. The item group itself is not fulfilled, received, or stocked, but rather the components of the group are.
Item group components can be inventory items, assemblies, kits, and service items.
The price of a group item is dependent on its members’ prices.
Only groups allow you to change members on the fly on the transaction record
A kit/package is a unit composed of items from your inventory. A kit is sold as one unit but has several member components.
Kit components can be inventory items, assemblies, kits, and service items.
The price of a kit is not dependent on its components’ prices and can be assigned several price levels.
A service item is an item you create to track time and record billable hours.
Stock impact of building an Assembly item
the assembly item stock levels increase
the member items’ individual stock levels decrease
Multi-Location Inventory : Be aware
Demand Planning – Reorder Point (ROP)
When the quantity on hand of an item drops to this amount, the item is reordered.
After you select the Reorder Point replenishment method, you enter inventory management settings on item records. NetSuite then anticipates future demand for the item and adjusts suggested item ordering. Based on previous purchases and sales of items, your account calculates appropriate reorder points and preferred stock levels for items.
Demand Planning – Best Practice Using Auto-Calculation
After you enable the Advanced Inventory Management feature, there is a best practice when you set up inventory records. Do not immediately enter settings to auto-calculate stock levels and demand for ordering items. This is a best practice because if there is not enough sales history when you begin using auto-calculation, the data may be inaccurate.
Inventory – Adjustment Inventory Worksheet Limitations
* Each import can create one new inventory worksheet.
* Each inventory worksheet import can import data for one combination of class, department, location, and, if applicable, subsidiary values.
* The inventory worksheet import currently does not support the import of bin information.
* Like the inventory worksheet form in the user interface, this import is best suited if you are using average costing.
Pricing – Absolute Pricing for Customers
A purchase request is a transaction that records a purchase that needs to be made.
FAM – Asset Usage Depreciation
FAM – Fixed Declining Depreciation
FAM – Straight Line Depreciation
FAM – Sum of Years’ Digits Depreciation
Annual depreciation is determined by multiplying the depreciable cost by a schedule of fractions.
FAM – Sum of Years/Straight Line
These two methods consist of two calculations where the highest value is selected. The net effect is that for the first part of the asset life it will depreciate faster. Partway through the asset life, approximately a third in the case of 150DB, the second method will take over, and the depreciation will go from a curve to finish as a straight line method.
FAM – 4-4-5 Calendar Depreciation
The 4-4-5 Calendar Depreciation method computes depreciation daily.
FAM – Post to Next Open Period if AP is Locked
FAM – Post to Next Open Period if AR is Locked
Run Server Scripts on CSV Import
Clear this box if you are importing records of mid-life assets.
FAM – Allow Asset Value Editing
FAM – Allow Negative Asset Cost
Check this box to enable administrators (and other roles with permission to edit asset values) to enter negative values—for original cost, current cost, and residual value—in asset records.
* To select the Allow Negative Asset Cost preference, you must first check the Allow Asset Value Editing box.
* Note that when negative values are entered in asset records, you cannot clear the Allow Asset Value Editing or Allow Negative Asset Cost box to disable either preference.
Select additional roles from this field to enable other users to edit asset values.
FAM – Restrict Ability to Reject Proposals
FAM – Propose Approved Transactions Only
Choose any of the following options:
* Parent—Roll up values of sub-assets to parent and create one journal entry to include parent and child values per period.
* Sub-Category—Roll up values to sub-category and create one journal entry per sub-category per period.
* Asset Type—Roll up values by asset type.
FAM – Allow Future-dated Depreciation
FAM – Use Accounting Period Dates for Depreciation
FAM – Post on Location Change
FAM – Post on Class Change
FAM – Post on Department Change
FAM – Write-down using Depreciation Account
FAM – Asset Disposal Invoice Form (internal id)
FAM – Allow Lease Modifications
Check this box to allow changes to be made to leased records with an ‘Asset Created’ status.
Click Set Up to select the source file for the SuiteScript results to display.
Analytics – Key Performance Indicators
List portlets can display records of a specific record type. You can choose among standard record types and custom record types created by you or other users. You can also use this portlet to add new records of the selected record type. In addition to viewing records, you can use this portlet to display the results of saved searches related to the record type you selected.
The My Login Audit portlet shows information about your login activity. You can add the My Login Audit portlet to your dashboard. Use the portlet to monitor your previous successful login, your previous failed login, the IP address associated with your login activity, the date when your password will expire, and other login information.
The Phone Calls portlet enables you to see a list of upcoming phone calls
You can publish information from news sources on your dashboard. NetSuite offers you feeds by CNN, Reuters, Yahoo, CBS Market Watch, and more. In addition, you also can choose to display custom RSS feeds from other sites, or to create a custom feed to publish messages to users of your NetSuite account.
Analytics – Ways to distribute a Saved Search
Analytics – Defining Recipients for Saved Search Email
* You can define a list of recipients by selecting user or group names on the Specific Recipients subtab.
* You can derive recipients targeted to search results field values, so that users with matching values receive email.
* An alternate method for targeting recipients based on search results field values is to define a filter for search criteria, such as Sales Rep is Mine or Sales Rep is My Team, as well as selecting recipients on the Specific Recipients subtab. Email is sent only to users who match search criteria AND are listed as Specific Recipients. This option may allow more control than selecting fields on the Recipients from Results field.
Analytics – Using Expressions in Search Criteria
Analytics – Alternate Range Types : Relative to report date
Analytics – Alternate Range Types : Relative to today’s date
Analytics – Alternate Range Types : Balance Forward
Import Assistant – Overwrite Sublists = True
Import Assistant – Overwrite Sublists = False
The effect varies according to whether the sublist import supports selective updates based on key field values.
* For keyed sublists, the Import Assistant selectively updates existing sublist data with key field values that match CSV file sublist rows and adds CSV file sublist rows with key field values that do not match any values in existing rows as new sublist row
* For non-keyed sublists the Import Assistant appends all CSV file sublist data as new rows.
Import Assistant – Ignore Read Only Fields
Import Assistant – Prevent Duplicate Records
Import Assistant – Log System Notes For Custom Fields
Import Assistant – Overwrite Missing Fields
Import Assistant – Custom Multi-Select Value Delimiter
To use a custom character as a delimiter instead of the pipe, enter it in this field.
Import Assistant – CSV Decimal Delimiter
Import Assistant – Custom Form
Import Assistant – Server Scripting and Workflow Execution
Import Assistant – Use Multi-Threading