Accounting Period Configuration for Netsuite

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Audience: Accounting Manager and MineralTree Administrator

Summary: This article reviews how to configure accounting periods within MineralTree to avoid synchronization errors. 

Within MineralTree's Administrator Application (Settings > Manage Company Settings) there are default settings which dictate to which accounting period invoices sync to Netsuite.

Under the Settings tab's Default Invoice Preferences there is a dropdown for Default Posting Period. The choices are None, Current Posting Period, and First Open Period.

None means MineralTree will not select a posting period by default when creating the invoice. You may select the posting period of your choosing. If you do not select a posting period when you post the invoice to Netsuite, then Netsuite will select one for you based on your settings in Netsuite.

Current Posting Period means MineralTree will select the current open period by default when creating the invoice in MineralTree.

First Open Period means MineralTree will select the first open period by default when creating the invoice in MineralTree. This is useful if the invoice date falls into a closed period.

Invoices will be created in MineralTree using whichever option you have selected. Accounting Managers can override the default posting period on individual invoices before posting to Netsuite.

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There is also an option to allow transaction dates outside of the posting period. By default, most select to "Allow" this as not allowing it can cause errors if there is a discrepancy between the period the invoice falls in and the posting period selected.  

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