Setting Up Accounting Periods for a Full Year for Subsidiaries in NetSuite

🚨 Need to set up accounting periods in NetSuite? 🚨

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

Step-by-Step Guide 📋

1. Introduction
   • Ensure you have the multiple calendars feature enabled.✔️
2. Navigate to Manage Accounting Periods
   • Go to the main menu: Setup > Accounting.⚙️
   • In the Manage G/L section, select Manage Accounting Periods.📋
3. Select Fiscal Year
   • Choose the fiscal year for the subsidiary you want to set up.
   • The fiscal year is based on the standard fiscal calendar you created.🗓️
4. Set Up Full Year
   • Use the button to set up the full year.
   • Verify the fiscal calendar year is correct.✔️
5. Select Fiscal Calendar Month
   • Select the first fiscal calendar month from your chosen fiscal calendar.🌙
6. Choose Period Format
   • Select the period format (e.g., 4 weeks or 4-4-5 weeks).🔄
   • The 4-4-5 accounting calendar divides the year into four quarters of 13 weeks, with two four-week months and one five-week month.📊
7. Define Period Start and End
   • Specify the starting and ending year of the period.📆
   • Optionally check the One Day Year-End adjustment period box if needed.✅
8. Save Your Settings
   • Click the Save button to finalize your settings. 💾

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

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