This article is relevant if you would like to set up NetSuite to use a 4-4-5 Accounting Period.
Background
In my 2012 article, How to Setup an Alternative NetSuite 4-4-5 Accounting Period, I discussed the practice of setting up a 4-4-5 calendar. The article still has relevance as it gives the meaning for this accounting period practice.
However, this article presents an addendum.
Manual Set Up the 4-4-5 Calendar in NetSuite
In my experience, I found that NetSuite’s 4-4-5 setup algorithm is not quite right. The algorithm generates entries that need modification on the resulting period definition records. This means it will take back and forth effort between modifying the later period dates and then working backward to the earlier dates to get the accounting period definitions right. I find this cumbersome.
Instead, I propose to manually build the table. Start with the New Year, then set up the Quarters, then set up the Periods. Since you have to touch nearly all the period records, why not just build it from scratch and work in a linear fashion?
Download the 4-4-5 Accounting Calendar Excel Worksheet
I recently enhanced the calendar to be able to see the quarters easier. Please go to Download a 4-4-5 Calendar Calculator to get a link to the download.
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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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