I also enjoy finding the little things that NetSuite does in the upgrades that make life easier or more in line with industry standards. This one is a simple one but will make life a bit clearer for users in the Chart of Account.
What they have added is the ability to create an account as s header account that cannot be posted too. This is in line with the way MYOB and other smaller accounting packages work. People use this all the time to group accounts together on the Financial statements. Of course Netsuite does offer the extra capability of the Financial sections in the report builder, which allows you build Financial reports the meet specific requirements, i.e. Auditors
Still this benefical to a new setup as the chart of accounts will operate in the same way as it in the replaced system.
- This field is not available in the CSV imports at the time of writing.
- You can change existing GL accounts to Header accounts. They will keep their existing transactions but you will not be able to post to them in the future, as they must be inactive.
- If you want to clear the account out, you can merge it into another account of the same type. You will then need to re-create the account as a header account.