Setting Up Single Accounting Periods for Subsidiaries in NetSuite

Ron Danenberg1 min

🚨 Need to set up single accounting periods in NetSuite? 🚨

This tutorial will show you how to set up single accounting periods for subsidiaries in NetSuite.

Step-by-Step Guide 📋

  1. Navigate to Accounting Period 🗂️
    • Go to the accounting period:
      • You can do this via the setup menu or through the search bar by typing Manage Accounting Periods. 🔍
  2. Create a New Year 📅
    • Select the fiscal calendar and click on the New Year button.
    • Choose New Year Only.
    • Enter the:
      • Period name
      • Start date
      • End date (on the right side)
    • Select the desired fiscal calendar.
  3. Save Your Year Settings 💾
    • After entering the details, click Save.
  4. Set Up a New Quarter 🎉
    • If you want to set up a new quarter:
      • Please like this video! 👍
      • Click on New Quarter Only.
      • Enter the same type of information as you did for the year.
  5. Define Base Period 📆
    • Go back to set a base period.
    • You’ll see the same form where you can check if the period is an adjustment.
  6. Allow Non-G/L Changes ✔️
    • Allow users to enter non-posting transactions to this period after it has been closed.
    • Choose a parent period in the sub-period column.
  7. Save Your Settings 💾
    • Once you’re happy with the settings, click Save.

Congratulations! 🎊 You’ve successfully set up single accounting periods for subsidiaries in NetSuite! 🌟🎉

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