Here is the difference between between “Voiding” and “Closing” transactions

Voiding Transaction: If we click on void button automatically order quantity will become “Zero” and transaction amount will become “Zero” and in memo field by we will get message called “VOID”

• Navigate to Setup > Customization > Workflow > New.
• Enter Restrict Create Custom Record in the Name field.
• Select the Custom Record Type in the Record Type field.
• Check the On Create check box.
• Set Trigger Type to Before Record Load.
• Set the Event Type to Create.
• Click the button next to the Condition field.
• Select User Role under the Field column.
• Set the Compare Type to any of.
• Click the Select Multiple button in the Selection column.
• Select the roles that should be restricted from creating new records.
• Click Done.
• Click Save.
• Check the Execute as Admin check box in the Basic Information section of the workflow summary.
• Set the Release Status to Released.
• Check the Enable Logging check box.

Many businesses charge late fees or finance charges on invoices that are overdue. This allows business owners to recover costs incurred by carrying unpaid bills on their books. Finance charges are usually calculated on a monthly basis for all transactions that meet the criteria that the business owner has set up.

NetSuite has extensive capablities for arranging custom fields at form level, while exploring we got found of “Outside Columns at Top.” and "“Outside Columns at Bottom.”

Sometimes users may find the necessity of changing the default current values for the Auto-Generated numbers on transactions.

Under financial tab of Customer or Vendor we used to obseve Balance and Balance base, the below is the difference we can observe

Lock functionality is performed by accountants in month and year end process. Once the period is locked no transaction can be created or edited in the locked period.

As we know that different Item components are pieced together to form an Assembly Item and different Assembly Items may be using the identical components. When we want to know the list of places where the item is being used there is a function in NetSuite called “Component Where Used Inquiry” by using this feature we can know the list of places where the component is being used.

A revaluation is performed to know the exact value of the open transactions ( Payables and receivables) of a company within a selected date range(generally month or year).