Netsuite Suitefoundation Study Cards 2023/2024

Are standalone credit memos recommended?

Standalone credit memos can be created, but it's not a best practice. Standalone credit memos may unbalance your balance sheet. The credit memo is linked to the return authorization. The return authorization is linked to the invoice. And the invoice is linked back to the sales orders. These transactions will all automatically link to the customer record.

What are the levels that can be set for Password Policy?

Strong: minimum length of 10 characters, at least 3 of these four character types — uppercase letters, lowercase letters, numbers, non-alphanumeric ASCII characters Medium: minimum length of 8 characters, at least 2 of these four character types — uppercase letters, lowercase letters, numbers, non-alphanumeric ASCII characters Weak (Not Recommended): minimum length of 6 characters

What does "SDN" stand for?

SuiteCloud Developer Network

What is the Chart of Accounts? What does it do?

The chart of accounts provides a list of all accounts tracked in the system. And it captures financial information to facilitate making well-informed decisions and managing the bottom line. You can use account types to organize transactions in your registers and your reports. Reports > Financial > Chart of Accounts

Which center does the Admin role use?

The classic center

If a primary currency is changed on a customer record or vendor record then what must be re-entered?

The credit limit

Does the quick search portlet search use "OR" or "AND" capabilities?

"AND"

How do you search for company "ABC" in Global Search while only looking at customer records?

"CUS: abc", use the first 3 letters of the record type, colon, and then the name of the search.

How do you search for particular reports in Global Search?

"Page: (report name)"

What are Order-to-Cash relevant roles for Billing Operations?

1. Accounting Analyst 2. A/R Analyst 3. Controller

What do the following roles do for the Procure to Pay process? 1. Admin 2. Purchasing Managers 3. Inventory Manager 4. Accounts Payable

1. Admin - Confirm supporting feature and preferences 2. Purchasing Managers - Initiate and process Purchase Orders 3. Inventory Manager - confirmed the receipt of purchase orders and place items and goods into inventory 4. Accounts Payable - bill purchase orders and pay bills.

What is the difference between the following 3 terms? - 1. Pending Approval Firm 2. Pending Approval Open 3. Pending Fulfillment

1. Pending Approval Firm means approve the order before it's processed. So firmed transfer orders, you can't reschedule them or cancel them. 2. Pending Approval Open will approve the order before it's processed. Transfer orders that are open, not firmed, can be rescheduled or canceled. 3. Pending Fulfillment here sends transfer orders directly to the fulfillment queue with no approval required.

Security Layers on a Role

1. Permission to Edit Sales orders 2. Restrict to only edit OWN orders 3. Open fields for assignment or viewing 4. Assign custom form The first layer is just giving someone rights to go to a sales order. And in this case, you can see Permission to Edit a Sales Order. That's layer one. The second layer is restrict to whose sales orders they can go to. Can I only go to mine and my subordinate sales orders or can I go to anyone's? The third layer is going to be what we refer to as open fields. Open fields are typically fields that contain employee names, so a sales rep field or a customer support rep field. What type of restriction will we put around that? If I don't restrict those fields, then I'll have access or can select any sales rep or select any customer support rep from the field. If I do restrict that field, then I can only select based on the previous layer. I can only select names that appear, say my own or my subordinates. Final layer is we have the ability to create a custom form. We spoke to custom forms in an earlier module. But custom forms may be used to hide fields, relabel fields, make fields mandatory. Once we've done that, we can assign the custom form to the security role and, therefore, the user will be required to adhere to whatever the settings are within that particular form.

What are Order-to-Cash relevant roles for Order Management?

1. Sales Rep 2. Sales Manager 3. Controller 4. Inventory Manager

What is the maximum number of subsidiaries an account can have?

250. The root (parent) + 249

What is the recommended maximum number of line items in NetSuite?

500

What is a Subcustomer Record? What is the creation limit set by NetSuite for the Customer-Subcustomer Hierarchy?

A subcustomer record is a customer record that has another customer record as its parent. Subcustomer records let you create hierarchies of leads, prospects, or customers to organize and manage relationships between your employees and your customers. NetSuite limits the maximum number of customers you can include in a customer-subcustomer hierarchy. A customer hierarchy is comprised of the top-level parent customer, all of its subcustomers, and all of their subcustomers. You can have a maximum of 10,000 customers and subcustomers in a customer hierarchy.

What does 3PL stand for?

A third-party logistics warehouse, or 3PL for short, is an outsourced business that takes care of a company's supply chain and logistics operations. Simply put, 3PLs are used for the outsourcing of third-party warehouse and distribution needs for their customer's inventory and fulfillment services.

Classes are...

A wider classification to be used as determined by your business, e.g. Business Unit

What payment methods are used to pay bills?

ACH, Electronic, Check

What is the CRM data table type?

Activities, such as tasks or events, with your customers Activities, Project Tasks, Campaigns

What are some key things you can define under Company Information?

Addresses (Subtab) Company Name Legal Name Organization Logo First fiscal month Company Base Company Company time zone Company URLs (Subtab)

What does Inventory Adjustment / Adjust Inventory do?

Adjust inventory / value inclusive of quantity on hand. Using the adjust inventory transaction will actually preserve any adjustment history because it does take into consideration the previous stock.

Which role confirms supporting features and preferences are setup correctly?

Administrator

Billing Operations takes place where?

After the invoice. Invoice > Invoice Delivery > Payment from Customer > Accept Payment + Invoice > Review AR Aging > Monitor, Analyze and Alert

What is common among all center types?

All centers have Home, Activities, Documents and Setup pages.

Approval Routing does what? How do you enable it?

Approval Routing is a custom approval routing process that must be turned on under: Setup > Accounting > Accounting Preferences > Approval Routing subtab > Pick the transaction types for the workflow

What are your 4 options for updating exchange rates?

Available options for updating exchange rates are: manually update a rate between two currencies, add a new rate for the same two currencies with a different effective date, automatic update using the currency exchange rate integration feature, and import currency exchange rates from an external system using a CSV file.

If a Currency is a Base Currency, what does that mean?

Base Currency means the Currency is being used for 1 or more subsidiaries

Order Management takes place where?

Before the Invoice. Creates Sales Order > Approve > Fulfillment or Provisioning required > Invoice

What can Global Search NOT do?

Cannot search based on dates

How are centers defined in NS? What changes for each center?

Centers are set by each role. The tabs change based on the role/center being used.

What does the Adjust Inventory Worksheet do?

Changes the inventory quantity/value exclusive of quantity on hand It is mainly good for entering opening balances. Lot numbered and serialized inventory items are visible in the Adjust Inventory transaction.

Name all of the subtabs under Enable Features

Company Accounting Transactions Tax Items & Inventory Employees CRM Analysis Web Presence SuiteCloud

Where is the Company Address, Company Shipping Address and Company Return Address set?

Company Information > Addresses Subtab

What does COGS stand for?

Cost of Goods Sold

What are the 3 different types of consolidated exchange rates that are maintained for each period, parent, subsidiary?

Current, average, and historical. Generally, the current rate is the spot rate at the end of the accounting period and is used to translate most balance sheet accounts. The average rate is the rate used to translate income and expense accounts. The historical rate is used to translate certain equity accounts.

Parent:Child relationships can be set up for who?

Customers and Partners. The Parent:Child relationship is not available for vendors.

What does "Default Items to Zero Received/Fulfilled" do?

Default items to zero received/fulfilled is a consideration of saving time versus ensuring accuracy. Either use zero quantity when you open a fulfillment or receipt transaction, and then mark the items you want to fulfill. Or receive on the form including the quantities. Or default items to their full quantity on the transaction, and then clear the items you do not want to fulfill or receive on the form.

What is Currency Precision? How does it work?

Displays the precision of the currency, which designates the number of digits to the right of the decimal point used in currency transactions. Precision can be zero or two. The level of decimal precision indicated is used for inventory costing calculations to maintain consistency between inventory costing and reporting. Values in report results are rounded to the base currency precision. This rounding applies to currency values and non-currency values, including formula column values. To change this read-only field to a dropdown list through which you can change the precision from zero or two, contact NetSuite Technical Support.

What is an elimination subsidiary used for?

Elimination subsidiaries are strictly used to balance your consolidated financials. This helps you remove the effect of investments in subsidiaries by eliminating the revenue or expenses for subsidiaries at the consolidated level. Only journal entries post to elimination subsidiaries. They facilitate the elimination of unrealized profits or losses within intercompany transactions, should have a base currency that is the same currency as parent company. Elimination subsidiaries do not impact your license fees, nor do they count toward their maximum subsidiary.

What are some important things to know about renaming records and transactions?

Even if you change these names NetSuite will know these fields as their original names. That is important for working with the help desk, and searching through code. Also, remember to enter the terminology as singular and not plural.

What does "Filter Bulk Fulfillment Page by Warehouse" do?

Filter bulk fulfillment page by warehouse lets you filter your fulfillment list by the location identified on the order. For example, if you select Atlanta in the location filter of the fulfillment page and click mark all, NetSuite fulfills only items with the Atlanta location chosen. If you disable this preference, all items on orders you mark for fulfillment are fulfilled from a location in the header of the bulk fulfillment, regardless of the location identified on the order.

What's the path to create an Asset Proposal?

Fixed Assets > Transactions > Asset Proposal

Where can you override preferences as an admin?

General Preferences > Overriding Preferences

How do you search by dates?

Go to Quick Search Portlet > Set up > Switch to transaction Search > Date Field appears. These work as "AND" statements.

What is the Item data table type?

Goods and services you buy and sell; line items on sales and purchase order forms Non-inventory items, service items, inventory items, discounts, other charges

What's the path to the layout link? What are the layout options?

Home > Layout (upper right corner) OR from the Settings Portlet This give you 4 layout choices: a. 2 columns: narrow, wide b. 2 columns: wide, narrow c. 3 columns: narrow, wide, narrow d. 1 column

What's the path to the personalize the dashboard?

Home > Personalize (upper right corner). OR from the Settings Portlet This is where you can pick your portlets and see what portlets you already have.

What decimal places are supported for the Netsuite exchange rates?

I can enter exchange rates with up to 15 digits before the decimal point or up to 8 digits after the decimal point. e.g. (8).(15)

What may prevent a user from deleting a record?

If a user with delete options attempts to delete a customer record, any transactional history for that customer must be removed or deleted from the system first. Any additional child records such as contacts, the linkage must be broken before we can delete that record.

What is something to be cautious of when using Adjust Inventory Worksheet?

If using LIFO or FIFO costing methods, the costing method is reset; costing history will be lost.

What are the 3 iterations of subsidiary reporting?

In a OneWorld account, everything has a subsidiary context to allow you to: show the parent, show the child, or show the whole family, parent and child. Consider the best practices to optimize your use of subsidiaries. Plan and document the hierarchy. Use a top-down approach, parent with children.

What is the entity data table type?

Individuals and organizations that you do business with Customers, Vendors, Employees, Partners, Contacts

What does ISO stand for?

International Standards Organization. The ISO country codes are internationally recognized codes that designate every country and most of the dependent areas a two-letter combination or a three-letter combination; it is like an acronym, that stands for a country or a state.

Is there a Parent:Child relationship limit in NetSuite?

It does not seem that we have any documented or coded limits. The limitation is more about usability or practicality.

On a Billing Operation, what does the Credit Card Approved checkbox indicate?

It indicates that a credit card was used outside of NetSuite to pay for the transaction, and you want to record the transaction in NetSuite.

What's the main difference between Item Groups and Kit/Packages?

Item Groups are dependent of its members prices while Kit/Packages are independent of its members prices. ONLY Groups allow you to change members of the group on the fly -- on the transaction record itself; the price is dependent on its members prices.

What's the difference between the Approval Limit field and the Limit field on an employee record? (E.g. Expense Approval Limit vs Expense Limit)

Limit = the approval amount the employee can approve themselves Approval Limit = the limit the approver has set for them. E.g. John D. is the employee Mandy S. is the approver Limit set to 0 on John's employee record. Approval limit set to 500 on John's employee record. John D. cannot approve anything and it must be approved by Mandy S. Mandy S. can only approve up to 500 before.

What is a Matrix Item?

Matrix Items are items with various options, like t-shirts in multiple colors and sizes. This will only appear if you have the Advanced Inventory Management Feature turned on in your account. Advanced Inventory Management Feature - (AUTOMATICALLY CALCULATE REORDER POINTS AND PREFERRED STOCK LEVELS BASED ON HISTORICAL PURCHASE AND SALE DATA.) Check this box to enable NetSuite to anticipate demand for items and adjust suggested item quantities to order. Purchases of new stock are based on previous purchases and sales of items.

What are Members in relation to Items?

Members are a function. They represent Inventory items, Assemblies, Kits and Service Items.

For Fixed Asset Types, what is the Asset Lifetime number referring to? Years, Months, Weeks or Days?

Months

What are the different settings for each edition?

NetSuite United Stated (US) -Pre-coded tax, Sales tax imports required -No separate tax reporting periods -No foreign trade settling NetSuite Japan (JP) -Pre-coded tax, Consumption Tax -Yes Separate tax reporting periods -Yes foreign trade settling NetSuite Canada (CA) -Pre-coded tax, GST/PST -No separate tax reporting periods -No foreign trade settling NetSuite Australia (AU) -Pre-coded tax, GST -Yes Separate tax reporting periods -Yes foreign trade settling NetSuite United Kingdom (UK) -Pre-coded tax, VAT -Yes Separate tax reporting periods, provides full EU reporting -Yes foreign trade settling NetSuite International (XX) -No pre-coded tax - install bundle to configure -Yes Separate tax reporting periods -Yes Foreign trade settling -Customize this edition by defining the tax nexus

What are the different NetSuite Editions?

NetSuite United Stated (US) NetSuite Japan (JP) NetSuite Canada (CA) NetSuite Australia (AU) NetSuite United Kingdom (UK) NetSuite International (XX)

Yes or No, do elimination subsidiaries count towards the total count of subsidiaries?

No

Is it mandatory to use account numbers in the Chart of Accounts?

No This can be turned on under Account Preferences.

Is the Subsidiary Record an Entity?

No!

Can a warehouse or location be shared across multiple subsidiaries?

No, it is a 1 to 1 relationship with the subsidiary.

What is the optimal dashboard layout for mobile users?

One of the two, two column layouts

Accounting Preferences > Order Management Subtab > Transfer Orders > What options do you have for the Default Transfer Order Status?

Pending Approval Firm by default, requires that someone with permission approves the order before it is processed, and these orders are not available to be rescheduled or cancel. Pending Approval Open by default requires that someone with permission approves the order before it is processed. The order is open and not firm, which means it's available to be rescheduled or canceled. Pending Fulfillment by default sends transfer orders directly to the fulfillment queue without requiring further approval.

What is a purchase request? How does it work?

Purchase requests are optional. They're entered by an employee. It's a request to purchase goods and services, but not an authorization to purchase. Once it's approved, a purchase request converts to a purchase order and may be pending receipt if item receipts are required. Purchase orders authorize vendors to provide items, materials, or services to your company. You can track items that you have received and track items that you have yet to be received.

What is the Transaction data table type?

Represents a financial exchange or a value adjustment Bank, Purchases/Vendors, Sales, Employee, Inventory

What does "RA" stand for?

Return Authorization

Centers are assigned to ________

Roles. (e.g. Sales, Administrator, Accounting, Purchase Inventory).

What search shortcuts can be used?

Rule of thumb is to use the first three letters of the record type and a colon to create your prefix, or your filter. Examples CUS: CON:ABC: abc OR smith ("OR" is simply a separator, or operator, within the search.) sm%th (% is wild for a string of character) sm_th (underscore is wild for a single character) page: (good for going to reports) e.g page: balance sheet help: Here's a list of more: https://docs.oracle.com/en/cloud/saas/netsuite/ns-online-help/section_N639669.html#bridgehead_N639921

Where can you see what version of NS you're on?

Scroll down to the bottom of the dashboard screen. It's at the very bottom.

What's a best practice preference setting for having multiple security roles?

Setting a different color scheme for each security role

What are your options under Inventory Costing Method and where can this be found?

Setup > Accounting > Accounting Preferences > Items/Transactions Subtab > Cost Accounting Section > Inventory Costing Method 1. Average 2. FIFO (FIFO theoretically you'd have to pull the stuff at the very top, so you send the oldest stuff in the warehouse first) 3. LIFO (you send what was just received by the warehouse) 4. (And Standard Costing if enabled) Average is the default

What are your options under Item Commitment Transaction Ordering? Where is this located?

Setup > Accounting > Accounting Preferences > Order Management Subtab 1. "Order by Expected Ship Date" commits only based on the latest expected ship date. 2. "Order by Order Priority" commits based on set customer priority regardless of transaction date or expected ship date. When the item commitment transaction ordering preference is set to Order by Order Priority, then an order priority column is displayed on forms for work orders, sales orders, and transfer orders. NetSuite uses this field to calculate the order priority for allocation. 3. "Order by Transaction Date" commits only based on the latest transaction date.

What are your options under Default Commit Option On Sales Order? Where is this located?

Setup > Accounting > Accounting Preferences > Order Management Subtab 1. Available quantity-- items for this line item are committed as available. Items are shipped. And items that are not available are placed on back order. 2. Complete quantity-- this line item only ships when all items are committed. 3. Do not commit-- items are not committed to this line item until the setting has changed. You can also set the default commit option on transfer order.

What are your options under Default Sales Order Status? Where is this located?

Setup > Accounting > Accounting Preferences > Order Management Subtab Default sales order status determines whether to use approvals. Options include-- 1. Pending Approval requires the order to be approved before going into the fulfillment queue. 2. Pending Fulfillment bypasses any approval and sends the order straight to fulfillment. The default status can be set. But on any individual transaction, the status can be switched by a user with appropriate permissions.

Where can you review and change prefixes and suffixes for document types?

Setup > Company > Auto-Generated Numbers > Document Numbers Subtab

Where can you set a Company Logo, Company Name, Legal Name, Companies First Fiscal Month, Company time zones for corporate HQ?

Setup > Company > Company Information

What is an important feature that is recommended to setup as an Email Preference? And how do you navigate there?

Setup > Company > Email Preferences "Use Popup for Main Transaction Email Button" is recommended. This provides a pop-up window and provides you with the ability to edit recipients and other email attributes.

Where do you set password strength as the admin for all users? How do you navigate there?

Setup > Company > General Preferences > Password Policy AND Minimum Password Length AND Password Expiration In Days Fields (3)

What is a Form? What is a record?

The form is the interface that is used to enter, view and modify data. The record is how that data is stored in the database. For example, customer data is entered into a customer form. When the form is saved, the customer record is created.

What email address is used if you don't enter one in your personal preferences?

The one you use to log in

On an Invoice record, when does the "Open" status go away?

The status is open until customer payment is received or credit memo applied. When the customer has made a payment for the full amount of the invoice balance due, this status is automatically set to "paid in full".

Who is the approver for an employee if no approver is set on the record?

The supervisor is then the approver

For Fixed Asset Types, what is the Residual Percentage field?

This field represents the percentage the asset will be worth at the end of its lifetime

Locations are...

Used for physical location or virtual places, e.g. warehouse, sales office

Departments are...

Used to track departments or budget centers

What 4 permission levels can be set for users?

View, Create, Edit, Full. View - Just viewing the records, nothing more. Create - Can create but cannot edit anything. Edit - Can edit anything but cannot delete. Full - Can do everything + delete ** "None" is a secret 5th role. ** PS - The Full Access role was deprecated because it had become a redundant role as the roles and permissions options have greatly expanded

What is another name for quantity pricing?

Volume pricing

When creating a subsidiary what are some important things to remember?

When entering the subsidiary record, it is important to pay attention to the hierarchy, select the correct country, which determines the NetSuite edition and tax nexus, and choose the correct base currency (the currency field CANNOT be changed after you pick it and save upon creation(You could mark the subsidiary as inactive and then create the new correct subsidiary.))

Once a transfer item is shipped is it the responsibility of the TO location to receive the order?

Yes

Can General Preferences override User Preferences?

Yes - it will override them and have them greyed out. An admin can remove this override if they choose to under Setup > Company > General Preferences

Can you convert classes to departments or locations?

Yes, but it will override all of the information and is not reversible. As the Admin: Setup > Company > Convert Classes to Departments Setup > Company > Convert Classes to Locations

What do you do if you forget your security questions?

You have to reset your password. NS does not store your security question answers. You will have to make new security questions after resetting the password and logging back in.

How do you create a custom role? What is important to know about this process?

You will select a standard role and then click Customize in order to create a new custom version of it. You will need to save your new custom role with a new name. Even though there may be a standard provision security role that meets all your security needs, you will want to still make a copy of it by clicking Customize before assigning it to a user. The reason is if your user has been assigned a standard, out of the box, pre-provision security role and at some point in the future, you need to take away a right or assign an additional right, you cannot go into that pre-provision security role and add that right or take it away.