Setting Up Single Accounting Periods for Subsidiaries in NetSuite

🚨 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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