NetSuite Tutorial: How to Enter Open In-Flight Prepaid/Amortization Schedules

Quick overview and guide on how to enter open in-flight prepaid/amortization schedules in Oracle | NetSuite.

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Expense Amortization:
► Deferred Expense should be established using amortization schedules in NetSuite. The amount remaining in the schedule will be brought in as a journal entry from the go-live date through the end date of the schedule.
► Vendors should be referenced in the ‘Name’ field of the journal entry to provide tie back to the vendor record, where appropriate.
► For each Amortization schedule to be imported:
· Debit the appropriate expense account for the amount remaining in deferred. However, on this line item, select an amortization template (schedule) along with a start date of the day after go-live and an end date of the end of the schedule.
· Credit the appropriate deferred expense account for the full amount remaining in deferred.
· Note: the deferral account may be set on the expense account record or defined on a specific amortization schedule template.

Видео NetSuite Tutorial: How to Enter Open In-Flight Prepaid/Amortization Schedules канала JR Tallman