Cloud Coders Warehouse Management System

New Netsuite Option for Fulfillments

New Netsuite Option for Fulfillments

We often find new options appearing in the Accounting Preferences that are not always documented in the release notes.

 

In the 2015.1 release we found a new preference for updating the transaction dates, could this finally be an attempt from Netsuite to fix the gross profit reporting when an order is paid for in one period and fulfilled in another, which is a really common issue we get asked about in the Wholesale and Distribution space. Accounting Preference 2014.2

Well the short answer is no, it does not help in that situation. From the Netsuite help:

When the Pick, Pack, and Ship feature is enabled, you can enable the Update Transaction Date Upon Fulfillment Status Change preference in order to pick items in one accounting period and ship in another accounting period.

So what that means is that if an order is picked in a period that is closed, and then shipped in a later period, Netsuite will update the dates and record them on the item fulfilment, as per this screenshot:

Date Adjusted Item Fulfilment

 

 

One thing that we did notice, is that if you enter the date and then change the shipping Status, it resets the date to the current date, so it’s important to enter the fields in the right order.

So that unfortunately leaves us with our two standard work arounds:

  1. Use a Sales Order as a Pro-Forma invoice and record a Deposit against that order to accept payment. Then when you fulfil and invoice the sales order, the payment will be applied to the invoice and the Revenue and Cost will be on the same day. This works well from a bank-rec/revenue process for cash sales.
  2. Have a customisation that updates the Posting Period of an Invoice/Cash Sale when the goods are dispatched. This works well, but requires Allow Posting in different periods from Transaction dates, which has causes a few issues in reporting.

Neither of these approaches are perfect. We’re looking forward to seeing what we can do with the new SuiteGL to hopefully improve on this issue.