Sunday, September 9, 2018

Inventory Returned Not Credited Reconciliation Report.

The account Inventory Returned Not Credited is used as a "suspense" account to record the return of items through Vendor Return Authorization. This account is debited for every item fulfillment representing shipment of items to the vendor. This account is credited when related Bill Credit is recorded. If both transactions are recorded within the same period, the account is zero. NetSuite does not yet offer a standard report for this. As a workaround, perform the following:

1.      Navigate to Reports > Financial > General Ledger.

2.      Click Customize.

3.      On Edit Columns tab, set/remove the following:

o        Remove Account and Type columns.

o        Add Created From column from the Add Fields portlet and Transactions folder.

4.      On Report Preview portlet, set the following:

o        Remove Account and Type field from the report.

o        Drag Created From column to the left most part of the report.

o        Mark Group box.

o        Add Transactions : Amount Column and mark Add Running Balance box.

5.      Click Filters tab and add filter Active Account By Type : Name and set it to equal to Inventory Returned Not Credited.

6.      Click More Options tab, set the Expand Level field to Level 3.

7.      Click Preview or Save the report.

8.      Set the date range.

The said report shows all transactions posted to the account and subtotaled or grouped by the Created From field which would normally be the Vendor Return Authorization (VRA) number. The transactions that are not zeroed out should be reviewed since these are VRAs that are pending item return or bill credit. 



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