Kolleno Solutions
Kolleno Payments
🚨 Problem: Need to move subsidiaries to a new fiscal year in NetSuite? 🚨
This tutorial will guide you through the steps to transition your subsidiaries into a new fiscal year effectively. 🏢📅
Step-by-Step Guide 📋
- Ensure Fiscal Year Setup
- Before you begin, confirm that you have a fiscal year set up in your system. 📆
- Ensure that the Multiple Calendars feature is enabled in your settings.
- If you need help with this, please see the previous tutorial on enabling the feature. 🎥
- Access Fiscal Year Setup
- Navigate to Setup > Accounting in the main menu. 🔍
- Here, you will see the option to create and manage fiscal years.
- Assign Subsidiaries
- Once you have created your fiscal year, you can assign the necessary subsidiaries to this new calendar. 🌐
- Review Accounting Periods
- After assigning subsidiaries, go to your Accounting Periods section. 📊
- You can use the Setup Full Year option to generate rollups for historical closed or existing fiscal years.
- Setting Up Short Years
- If you want to set up a short fiscal year, you can manually establish the base period and roll-up hierarchy for the transition period using the available buttons (e.g., New Year Only, New Quarter Only, and Base Period). ⏳
- Adjust Start Dates
- For specific adjustments, like changing the start date of the new fiscal calendar, you have options to generate future rollups as needed. 🔄
Congratulations! 🎊By following these steps, you have successfully moved subsidiaries to a new fiscal year in NetSuite! 🌟
If you found this tutorial helpful, please subscribe to this channel for more tips and tutorials. Visit www.KOLLENO.com for more tools to enhance your accounting processes! 🎥✨
