Setup for Period End Journal Entries
The Period End Journal Entry feature is available only on NetSuite OneWorld accounts. You must enable the Accounting Periods feature to enable this feature. For help with accounting periods, see Accounting Period Management.
After you have enabled the feature, you can enable subsidiary and set preferences. The following is general information about enabling the feature for subsidiaries and feature-related preferences:
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For consolidation journals, enable the parent subsidiary. You do not need to enable each child and grandchild. Consolidation journals are controlled by an accounting preference.
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For income statement closing journals, enable each subsidiary for which you want to post income statement closing journals.
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You cannot enable the feature for elimination subsidiaries.
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If the Multi-Book Accounting feature is enabled in your account, you can enable the Period End Journal Entries feature for specific subsidiaries in specific accounting books.
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You cannot disable the Period End Journal Entries feature for a subsidiary if any period end transactions have posted to that subsidiary. You can delete period end journals in open accounting periods. However, you may not be able to delete other period end transactions, such as GL adjustment transactions.
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The Use Consolidation with Period End Journal Entries accounting preference is on the General subtab of the Accounting Preferences page at Setup > Accounting > Preferences > Accounting Preferences.
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The Subsidiary Settings Manager includes all the other settings you need to enable and configure Period End Journal Entries for your account. For detailed instructions, see Defining Subsidiary Settings for the Period End Journal Entries Feature.
The following topics contain other setup information: