Insert NetSuite Serialized / Lot Number Inventory in Bulk

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.