Editing an Account

Depending on the features enabled in your account, multiple subtabs appear at the bottom of the Account page when an account is in edit mode. For example, if you use the Multi-Language feature, the Localization subtab appears. Use it to edit the account name or legal name for the languages defined in your system. For information, see Configuring Multiple Languages. The System Notes and Bank Import Mapping subtabs always appear. It provides an audit trail of changes made to an account.

If you use NetSuite OneWorld and accounting contexts have been set up, the Localization subtab enables you to enter different account names, languages, and numbers for a single account. An accounting context can be a one-to-one relationship between a country’s local GAAP (Generally Accepted Accounting Principles) reporting requirements and a statutory chart of accounts (COA). It can also be a unique relationship that meets your company’s specific needs.

The account name that displays is based on the order of the following conditions:

  1. If any line on the Localization subtab represents both the accounting context language and the user’s preferred language, the account name displays in this language.

  2. If there is a line only for the user’s preferred language, the account name displays in this language.

  3. If there is a line only for the accounting context language, the account name displays in this language.

  4. If none of these conditions exist, the account name displays as defined on the account record.

The account number that displays is based on the order of the following conditions:

  1. If any line on the Localization subtab represents both the accounting context language and the user’s preferred language, the account number displays in this language.

  2. If this condition does not exist, the account number displays as defined on the account record.

For more information, see Accounting Contexts.

To modify an existing account:

  1. Go to Lists > Accounting > Accounts.

  2. Click the Edit link to the left of the account you want to modify.

  3. On the Account page, modify the account as needed.

    Note:

    You cannot change the account type for an account that has associated posting and non-posting transactions such as sales order and revenue commit.

    If the Intercompany Time and Expense feature is enabled, you cannot edit the subsidiaries associated with any existing account type except Bank. This is because the system-generated intercompany clearing account locks the Subsidiaries field.

    Important:

    If you check the Summary box on an existing account, the account maintains its posted transactions, but you cannot post additional transactions to the account. The account also becomes inactive, but its children accounts maintain their current state.

    If you clear the Summary box on an inactive, parent summary account and then save the record, the account is not automatically reactivated nor are its children automatically inactivated. To automatically inactivate the children accounts, first edit the account record to clear the Inactive box and then save the record. Second, edit the account record again to check the Inactive box and then save the record. All children accounts are updated to inactive status.

    For more information, see Changing Names of General Ledger Accounts, Adding or Changing Account Numbers, Merging Accounts, and Deleting Accounts and Making Accounts Inactive.

  4. If you want to use the Match Bank Data and Reconcile Account Statement pages for this account, check the Use Match Bank Data and Reconcile Account Statement Pages box. For more information, see Editing Accounts to Use the Match Bank Data and Reconcile Account Statement Pages.

  5. On the Bank Import Mapping subtab, for a Bank type account, enter the following:

    Note:

    The fields in this subtab are required for importing CAMT.053.001.06–formatted or BAI2-formatted files.

    • 02 Record - Originator Identification Field

      Note:

      If you are using the BAI2-formatted bank statement import feature, enter the Originator Identification from the 02 Record of the BAI2 file. This is typically the ABA/FRB routing and transit number for Domestic Financial Institutions, or SWIFT, CHIPS, or another mutually agreed on number for Foreign Financial Institutions. To ensure you have the correct number to enable successful BAI2 file imports, contact your bank.

    • 03 Record - Customer Account Number

      Note:

      If you are using the BAI2-formatted bank statement import feature, enter the Customer Account Number from the 03 Record of the BAI2 file. This is typically the Customer account number at the originator financial institution. To ensure you have the correct number to enable successful BAI2 file imports, contact your bank.

    • IBAN Identifier / Tag 25 Account Identification

      Note:

      If you are using the ISO 20022 import feature, enter the number from <BkToCstmrStmt><Stmt><Acct><Id><IBAN> in the BankToCustomerStatementV06 file. If you are using the SWIFT import, enter the number from Tag :25: Account Identification in the SWIFT MT940 file. The International Bank Account Number (IBAN) is an identifier that financial institutions use internationally to uniquely identify a customer account. To ensure you have the correct number to enable successful file imports, contact your bank.

  6. If you are editing a Bank type account, you can also enter:

    • Next Check Number

    • Maximum Amount Per Transaction

    • Bank Name

    • Bank Routing Number

  7. If required, select the default Language for the account from the list.

  8. If you use the Electronic Funds Transfer (EFT), and ACH Vendor Payments features:

    1. Check the Use ACH box.

    2. Enter an ACH Message.

    Note:

    For details on how to enable ACH processing, see ACH Processing.

  9. Click Save.

For information about creating accounts, see Creating Accounts.

General Notices