Transaction Edits in Closed, Locked Accounting Periods

Note:

Please contact your sales or account representative to find out how to get the Full Multi-Book Accounting feature. The assistance of NetSuite Professional Services or a Multi-Book authorized partner is required to implement this feature. You should consider contacting NetSuite Professional Services or a Multi-Book authorized partner for assistance in setting up the Adjustment-Only Books feature, even though it is not required.

Important:

Multi-Book Accounting, including the Adjustment-Only Books feature, is available only in NetSuite OneWorld.

The Extended Accounting Period Close Process feature enables you to edit transactions in a period that is locked in one or more accounting books, but closed in other accounting books. NetSuite determines whether a transaction can be changed based on the specified posting period in the transaction record. This posting period is shared across all of your accounting books.

Important:

When you create a book-generic accounting transaction, the available posting periods are those that are open period in all accounting books. If you edit an existing book-generic accounting transaction, unless you change the posting period, the existing posting period continues, even if the period is closed in some accounting books.

When you create a book-specific accounting transaction and select the accounting book to which the transaction applies, the available posting periods are those that are open periods in the selected accounting book. If you edit an existing book-specific accounting transaction, unless you change the posting period, the existing posting period continues, even if the period is closed in some accounting books.

The following subtopics describe the edits that you can make to both book-generic and book-specific transaction records. It also includes a table that lists edit actions and their respective accounting results.

• Edits to Book-Generic Transaction Records

• Edits to Book-Specific Transaction Records

• Edit Actions and Accounting Results

• Reopening a Closed Period

• Making Changes to Locked and Closed Periods

Edits to Book-Generic Transaction Records

Book-generic transaction records created and shared across all books can be edited if the period is open in one book. Book-generic transaction records include sales invoices, vendor bills, and so on.

Changes to Book-Generic Fields

You cannot change a book-generic field on a book-generic transaction record when the posting period is closed in one of the impacted accounting books. If you attempt this change, NetSuite displays a message indicating which accounting books prevented the general ledger impacting change.

Changes to Book-Specific Fields

You cannot change a book-specific field such as exchange rate, on a book-generic transaction record when the posting period is closed in the related accounting book. If you attempt this change, NetSuite lists the accounting book that prevented the general ledger impacting change.

Edits to Book-Specific Transaction Records

You can change a book-specific transaction record if the period is open in the specified accounting book. If the period is closed, you can reopen the period and post book-specific adjustment journal entries. You can also post the following book-specific transactions:

• Book-Specific Journal Entries

• Book-Specific Intercompany Journal Entries

• Book-Specific Advanced Intercompany Journal Entries

• Revenue Commitments

• Revenue Recognition Schedules

• Expense Amortization Schedules

• Expense And Revenue Allocation Schedules

• Unrealized Gain/Loss

• Realized Gain/Loss

For more information about closing accounting periods, see Accounting Period Close.

Edit Actions and Accounting Results

The following table provides action types specific to closed or open periods, and the accounting result of those edits.

Action	Book with period closed	Book with period open
Edit non-general ledger impacting fields on book-generic records Example: Edit a memo field.	Non-general ledger impacting change saved	Non-general ledger impacting change saved
Edit general ledger impacting book-generic fields on book-generic records where one of the books has the period closed Examples: Edit an invoice amount, or change a tax code.	Error message indicating general ledger impact in closed period with impacted accounting books identified	Error message indicating general ledger impact in closed period with impacted accounting books identified
Edit general ledger impacting book-generic fields on book-generic records where not one of the books have this period closed Examples: Edit an invoice amount, or change a tax code.	Succeed	Succeed
Edit general ledger impacting book-specific field on book-generic records where one of the books has the period closed Example: Change the exchange rate.	Error message indicating general ledger impact in closed period with impacted accounting books identified	Succeed
Delete book-generic records where one of the books has the period closed Example: Delete a sales invoice.	Error message indicating general ledger impact in closed period with impacted accounting books identified	Error message indicating general ledger impact in closed period with impacted accounting books identified
Create or delete book-generic records where not one of the books have this period closed Examples: Create or delete a sales invoice.	Succeed	Succeed
Create, edit, or delete book-specific records Examples: Make a generic accounting adjustment using a book-specific journal entry. Make a book-specific revenue commitment. Book-specific revenue commitments are available only when the Multi-Book Accounting, Revenue and Expense Management feature is enabled. Make a revenue recognition schedule. Make book-specific amortization schedule. Make book-specific expense allocation schedule. Make book-specific transactions that result in Unrealized Gain/Loss and Realized Gain/Loss.	Error message indicating general ledger impact in closed period	Succeed

Related Topics:

Closing Tasks and Their Dependencies

Enabling the Accounting Book Period Close Feature

Accounting Book Period Close Management

General Notices