Accounting-Related Features
The records and transactions available for use in your NetSuite account depend on the features that have been enabled. Features can be enabled and disabled at Setup > Company > Enable Features by the account administrator or by another user who has the Enable Features permission. After you have enabled features, you can set up related records that are prerequisites for managing accounting in NetSuite. For information about all of the features on the Enable Features page, see Enabling Features.
SuiteGL features support customization of general ledger processes to meet your specific business needs. With these features, you can modify line-level general ledger impact of transactions, design specialized transaction types with unique general ledger capabilities, and create customized classifications that improve reporting and analytics. For details, see SuiteGL Features Overview.
The following sections describe accounting-related features that are not listed on the Accounting subtab on the Enable Features page. These sections are named for their respective subtab on the Enable Features page where they are displayed. For information 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 |
|
Multiple Currencies |
Enables use of foreign currencies for sales and purchase transactions, and accounts for exchange rate fluctuations. This feature also authorizes you to do business with both customers and vendors who use multiple currencies in their business dealings with you. See Currency Management. After qualifying revaluation transactions, the system generates the Realized Gain/Loss, Unrealized Gain/Loss, Unrealized Matching Gain/Loss, Rounding Gain/Loss accounts. Depending on the year in which your NetSuite account was established, you may also have the Exchange Rate Variance account. |
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Currency Exchange Rate Integration |
Automatically updates currency exchange rates by the specified provider one time each day. Agree to the Notice, as required. NetSuite stores the user id and time and date stamp of account changes in system notes. To choose an exchange rate provider, method for obtaining exchange rates, and anchor currencies, go to Setup > Accounting > Preferences > Accounting Preferences > General subtab > Exchange Rate Integration. For more information, see Exchange Rate Integration. For more information about the Currency Exchange Rate Integration feature, see 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 enabled. These accounts are included in the descriptions. For a complete listing of system-generated accounts, see Feature-Specific, System-Generated Accounts.
|
Field |
Description |
|
Sales Orders |
Enables tracking of customer orders and conversion into invoices and cash sales. See Sales Orders. Enabling this feature creates the system-generated Sales Orders account. |
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Return Authorizations |
Enables tracking of customer returns. See Customer Return Management. Enabling this feature creates the system-generated Return Authorizations account. |
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Purchase Orders |
Enables tracking of orders to vendors. See Purchase Order Management. Enabling this feature creates the system-generated Purchase Orders account. |
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Vendor Return Authorizations |
Enables tracking of returns to vendors. See Vendor Returns. Enabling this feature creates the system-generated Vendor Return Authorizations and Purchases Returned Not Credited accounts. |
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Advanced Billing |
Enables invoicing of sales over time or to a contract term, based on defined schedules. See Project Billing. |
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Credit Card Payments |
Enables receipt of customer credit card payments. See Customer Credit Card Processing Enabling both this feature and Customer Access creates the system-generated Unapproved Customer Payments account. |
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PayPal Integration |
Enables receipt of PayPal payments from Web store customers. See PayPal Integration and Express Checkout. |
Employees
The following accounting-related features are available on the Employees subtab of the Enable Features page.
Several of these features create system-generated accounts when enabled. These accounts are included in the descriptions. For a complete listing of system-generated accounts, see Feature-Specific, System-Generated Accounts.
|
Field |
Description |
|
Payroll |
Enables processing of payroll and printing of paychecks. See Payroll Setup. Enabling this feature creates the system-generated Payroll Adjustments account. |
|
Paycheck Journal |
Enables integration with external payroll systems, the creation of custom payroll solutions with SuiteScript and SOAP web services, and tracking employees' payroll data through NetSuite. See Paycheck Journal Feature. |
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Direct Deposit |
Enables authorization of electronic funds transfers from your accounts to employees' accounts. See About Direct Deposit. Enabling this feature creates the system-generated Failed ACH Transactions account. |
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Expense Reports |
Enables tracking and billing of employee expenses. See Expense Reporting. Enabling this feature creates the system-generated Unapproved Expense Reports, Advances Paid, and Accounts Payable accounts. |
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Purchase Requests |
Enables use of purchase requests to provide approval process for purchase orders. See Purchase Requests. |
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Employee Commissions |
Enables the automation of employee compensation processes. See Commissions. Enabling this feature creates the system-generated Commissions Payable account. |