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Oracle NetSuite: Allow Transaction Date Outside of Posting Period

Olivia Millard
Updated

In order to enter payables with date-period mismatches, you need to ensure that the Allow Transaction Date Outside of Posting Period setting found in NetSuite (Setup > Accounting > Accounting Preferences > General: General Ledger) is set to either Warn or Allow.

Screenshot (click here to view): NetSuite - Allow Transaction Date Outside of Posting Period Options

Screenshot of NetSuite's "Allow Transaction Date Outside of Posting Period" dropdown with options

When you do want to create a bill in a closed period, you can either select the posting period in the bill form or you can leave the field blank and NetSuite use its default setting to select the period.

Screenshot (click here to view): Routable - Posting Period Dropdown on Create Payable Form

If you allow NetSuite to use the default period, NetSuite has two options for the Default Posting Period When Transaction Date in Closed Period setting (Setup > Accounting > Accounting Preferences > General: General Ledger):

  • Current Period

  • First Open Period

Screenshot (click here to view): NetSuite - Default Posting Period When Transaction Date in Closed Period Options

Examples

We’ve included a few example scenarios to describe the expected behavior with these settings.

Use the links below to jump to the specific example:

  1. Create bill and initiate payment before period close

  2. Create bill, close period, then initiate payment

  3. Create bill, close period, then initiate payment the next month

  4. Close period, create bill with date in closed period, then initiate payment

1️⃣ Scenario 1: Create bill and initiate payment before period close

Flow

  1. Jan 3, 2023: Create bill in Routable

  2. Jan 26, 2023: Initiate payment in Routable

  3. Jan 27, 2023: Close/lock AP for Jan 2023 in NetSuite

Bill and payment dates

  • Bill date: Jan 3, 2023

  • Bill period: Jan 2023

  • Payment date: Jan 26, 2023

  • Payment period: Jan 2023

2️⃣ Scenario 2: Create bill, close period, then initiate payment

Flow

  1. Feb 9, 2023: Create bill in Routable

  2. Feb 24, 2023: Close/lock AP for Feb 2023 in NetSuite

  3. Feb 28, 2023: Initiate payment in Routable

Bill and payment dates

  • Bill date: Feb 9, 2023

  • Bill period: Feb 2023

  • Payment date: Feb 28, 2023

  • Payment period: Depends on Default Posting Period When Transaction Date in Closed Period setting

    • If Current Period: March 2023

    • If First Open Period: March 2023 *Must ensure there’s no past open periods

3️⃣ Scenario 3: Create bill, close period, then initiate payment the next month

Flow

  1. Mar 17, 2023: Create bill in Routable

  2. Mar 31, 2023: Close/lock AP for Mar 2023 in NetSuite

  3. Apr 5, 2023: Initiate payment in Routable

Bill and payment dates

  • Bill date: Mar 17, 2023

  • Bill period: Mar 2023

  • Payment date: Apr 5, 2023

  • Payment period: Apr 2023

4️⃣ Scenario 4: Close period, create bill with date in closed period, then initiate payment

Flow

  1. May 26, 2023: Close/lock AP for May 2023 in NetSuite

  2. May 30, 2023: Create bill in Routable

  3. Jun 1, 2023: Initiate payment in Routable

Bill and payment dates

If Allow Transaction Date Outside of Posting Period setting is enabled:

  • Bill date: May 30, 2023

  • Bill period: Depends on Default Posting Period When Transaction Date in Closed Period setting

    • If Current Period:

    • If First Open Period:

  • Payment date: Jun 1, 2023

  • Payment period: Jun 2023

If Allow Transaction Date Outside of Posting Period setting is disabled:

  • NetSuite will not allow the user to create the bill

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