Sales Transaction GL Impact in NetSuite

🚨 How Do Sales Transactions Affect Your General Ledger in NetSuite? 🚨

This tutorial explains the impact of various sales transactions on the General Ledger (GL) in NetSuite, helping you understand the accounting implications of each type.

Step-by-Step Guide 📋

1. Sales Orders 🛒

• Navigate to Transactions > Sales > Enter Sales Orders.
• GL Impact:
  • Non-posting: No immediate effect on the GL until the sales order is fulfilled.

2. Order Fulfillment 📦

• Navigate to Fulfill Orders.
• GL Impact:
  • Decreases: Inventory asset.
  • Increases: Cost of goods sold (COGS).

3. Cash Sales 💰

• GL Impact:
  • Increases: Undeposited funds.
  • Increases: Sales income.

4. Invoices 🧾

• GL Impact:
  • Increases: Accounts receivable (AR).
  • Increases: Sales income.

5. Statement Charges 📝

• GL Impact:
  • Increases: AR.
  • Increases: AR income.

6. Key Notes 📝

• Sales Orders: Non-posting until fulfillment.
• Fulfillment: Moves inventory to cost of goods sold.
• Cash Sales and Invoices: Directly affect income and AR.
• Statement Charges: Impact AR and associated income.

Congratulations! 🎊 You now understand how sales transactions affect your General Ledger in NetSuite. 🌟🎉

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