Accounting-Related Features
The records and transactions you can use in your NetSuite account depend on the accounting features you've enabled. You can enable or disable features at Setup > Company > Enable Features if you're are an account administrator or have the Enable Features permission. After you've enabled features, you can set up related records needed to manage accounting in NetSuite. For details about all of the features on the Enable Features page, see Enabling Features.
SuiteGL features let you customize general ledger processes to meet your specific business needs. With these features, you can change line-level general ledger impact of transactions, set up custom transaction types with unique general ledger capabilities, and create customized classifications to improve reporting and analytics. For details, see SuiteGL Features Overview.
The next sections cover accounting-related features that aren't listed on the Accounting subtab on the Enable Features page. Each section is named after the subtab where the feature appears on Enable Features page. For more details about accounting features, see Accounting Features.
Company
The following accounting-related features are available on the Company subtab of the Enable Features page.
|
Field |
Description |
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Multiple Currencies |
Lets you use foreign currencies for sales and purchase transactions, and handles exchange rate fluctuations. This feature also lets you work with both customers and vendors who use multiple currencies in doing business with you. After qualifying revaluation transactions, NetSuite generates the Realized Gain/Loss, Unrealized Gain/Loss, Unrealized Matching Gain/Loss, Rounding Gain/Loss accounts. Depending on the year when your NetSuite account was set up, you may also have the Exchange Rate Variance account. See Currency Management for details. |
|
Currency Exchange Rate Integration |
Automatically updates currency exchange rates from your chosen provider one time a day. When you enable this feature, you must agree to the Notice that appears. NetSuite stores the user ID and time stamp of account changes in system notes. To choose an exchange rate provider, how to obtain exchange rates, and anchor currencies, go to Setup > Accounting > Preferences > Accounting Preferences > General subtab > Exchange Rate Integration. For more information, see Exchange Rate Integration and Currency Exchange Rate Integration. |
Transactions
The following accounting-related features are available on the Transactions subtab of the Enable Features page.
Many of these features create system-generated accounts when you enable them. These accounts are listed in the descriptions. For a full list of system-generated accounts, see Feature-Specific, System-Generated Accounts.
|
Field |
Description |
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Sales Orders |
Lets you track customer orders and convert them into invoices and cash sales. When you enable this feature, NetSuite creates the Sales Orders account. See Sales Orders for details. |
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Return Authorizations |
Lets you track customer returns. When you enable this feature, NetSuite creates the Return Authorizations account. See Customer Return Management for details. |
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Purchase Orders |
Lets you track orders to vendors. When you enable this feature, NetSuite creates the Purchase Orders account. See Purchase Order Management for details. |
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Vendor Return Authorizations |
Lets you track returns to vendors. When you enable this feature, NetSuite creates the Vendor Return Authorizations and Purchases Returned Not Credited accounts. See Vendor Returns for details. |
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Advanced Billing |
Lets you invoice sales over time or by contract term, based on defined schedules. See Project Billing for details. |
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Credit Card Payments |
Lets you accept customer credit card payments. When you enable this feature and Customer Access, NetSuite creates the Unapproved Customer Payments account. See Customer Credit Card Processing for details. |
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PayPal Integration |
Lets you accept PayPal payments from Web store customers. See PayPal Integration and Express Checkout for details. |
Employees
The following accounting features are available on the Employees subtab of the Enable Features page.
Most of these features create system-generated accounts when you enable them. These accounts are listed in the descriptions. For a full list of system-generated accounts, see Feature-Specific, System-Generated Accounts.
|
Field |
Description |
|
Payroll |
Lets you process payroll and print paychecks. When you enable this feature, NetSuite creates the Payroll Adjustments account. See Payroll Setup for details. |
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Paycheck Journal |
Lets you integrate NetSuite with external payroll systems, create custom payroll solutions with SuiteScript and SOAP web services, and track employees' payroll data in NetSuite. See Paycheck Journal Feature for details. |
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Direct Deposit |
Lets you authorize of electronic funds transfers from your accounts to employees' accounts. When you enable this feature, NetSuite creates the Failed ACH Transactions account. See About Direct Deposit for details. |
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Expense Reports |
Lets you track and bill employee expenses. When you enable this feature, NetSuite creates the Unapproved Expense Reports, Advances Paid, and Accounts Payable accounts. See Expense Reporting for details. |
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Purchase Requests |
Lets you use purchase requests to add an approval process for purchase orders. See Purchase Requests for details. |
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Employee Commissions |
Lets you automate employee compensation processes. When you enable this feature, NetSuite creates the Commissions Payable account. See Commissions for details. |