This article is relevant if you are seeking to create NetSuite serialized or lot numbered inventory records.
Background
During an implementation, it may be a challenge to create inventory that is serialized or lot numbered. The general approach is to use inventory receipts to get your inventory updated. However, if you want to do this in bulk, this process may be slow and cumbersome.
Serialized Inventory Custom Table and Mass Updates
For a recent client implementation, we developed a way to use NetSuite’s CSV import so we could populate a custom table designed to hold serialized inventory information. CSV is handy as the client was managing this information in Excel. Based on the information in the updated custom table, we then ran a Custom Mass Update that reads every row in the table and generates a unique NetSuite Inventory Adjustment record. Inventory cost and quantity (in this case, being it is serialized, the quantity is always one – 1) is updated along with the proper definitions for Subsidiary, Department, Class, and Location. Finally, we allow the defintion of the offsetting general ledger credit (debit inventory as we are increasing inventory — but where does the credit go?). The sum of those credits can then be adjusted out according to the plans set out by the Client’s Controller.
With some refinements, we can easily adapt this capacity to help with periodic (month-end) inventory counts and cost updates.
Driving Accounting Automation with NetSuite Platform
This is an excellent illustration of how we help our clients on NetSuite. Given many of the members of our team were previously accountants, and we are experts in both NetSuite and software development, it’s a joy to be able to adapt the platform to meet our client’s unique accounting and operational requirements.
Marty Zigman
Holding all three official certifications, Marty is regarded as the top NetSuite expert and leads a team of senior professionals at Prolecto Resources, Inc. He is a former Deloitte & Touche CPA and has held CTO roles. For over 30 years, Marty has produced leadership in ERP, CRM and eCommerce business systems. Contact Marty to set up a conversation.
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Dear Marty,
It is good article & best customization. In general it is Difficult/cannot import the stock of serialized or Lot numbered Items. But if we are entering the stock during the item creation then we can do both by Standard CSV Import. It is not possible after the items are created..
Hi Alagar,
Can you restate what you said? I am confused.
Marty
Hi Marty,
Thanks for your replay..
When we create the items by CSV Import that time itself we can add the stock of the Lot numbered items. Netsuite will support it.