NETSUITE PROJECT

MODULE #1: NetSuite Overview and Company Set Up

NETSUITE
PROJECT
 MODULE #1 REVISED October 2023

Module 1 – Overview & Company Setup

Welcome to the NetSuite project. This project is for ACC 3385 students at Texas State University.
NetSuite, (www.NetSuite.com) is a user-friendly, cloud-based Enterprise Resource Planning (ERP)
software suite. It is a Software-as-a-Service (SaaS) package that delivers intelligent, integrated, and
powerful business applications. NetSuite is designed to integrate an enterprise’s major business
processes, including the major accounting transaction cycle business processes, and enable capturing,
processing and storing the related data in a centralized database such that the data can be shared
throughout the enterprise for use in related business processes and in overall management of the
enterprise. NetSuite’s functionality supports Customer Relationship Management (CRM), E-commerce
capabilities and self-service portals for customers and suppliers. It supports business functions across
all departments including sales, marketing, accounting, finance, inventory, order fulfillment, purchasing,
and human resources. ERP systems, such as NetSuite are widely used in business enterprises today
and you are likely to encounter these systems during your career in the accounting profession. ERP
systems, and information technology in general, impacts the design and implementation of transaction
cycle business processes and affects the nature of risks and threats present in the business processes
and the related internal controls used to mitigate these risks and threats. Therefore, it is important that
you be familiar with ERP systems so that you learn to evaluate risks and controls in this environment.
This project is designed to demonstrate, or simulate, how transaction cycle processes might be
structured when an ERP system is utilized in the wholesale distribution industry and will provide hands-
on experience using the NetSuite system. The project is appropriate for students who do not have prior
knowledge or experience with NetSuite or another ERP system. However, it does require that you have
an understanding of the typical transaction cycle business processes used in the wholesale distribution
industry. and provide a hands-on experience with a commercially available Enterprise Resource
Planning system. This project is divided into 3 modules.

Module 1: NetSuite Overview and Company Set Up

Module 2: Revenue Cycle (Order to Cash)
Module 3: Expenditure Cycle (Purchase to Pay)

You should be able to complete Module 1 in under an hour. Modules 2 and 3 will require between 1.5
and 2 hours to complete. After completing the project, you should be able to demonstrate proficiency in
the following learning objectives.

1. Students will be able to adapt their understanding of the usual activities, documentation and internal
control procedures present in the revenue and expenditure transaction cycles in a manual
accounting information system to one in which the NetSuite ERP system is utilized.
2. Students will be able to apply their understanding of relational database technology to the functions
of the NetSuite software.
3. Students will gain an appreciation for the overall increased efficiency and effectiveness of transaction
cycle processes in an ERP system environment.

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The deliverable for this module is to upload to Canvas a copy of this

document with all questions answered. Answer all questions using red font.

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Module 1: Overview of NetSuite and Company Set Up

Before starting this project, you will be provided with your own account on a NetSuite training system to
create your own fictional business. Your NetSuite account will be pre-populated with products,
customers, vendors, and employees. It will have financial history and many on-going transactions that
will simulate a viable business environment. You will be the system administrator and have full access
to all functions of the system. Unlike the “real world” you will be able to buy and sell products without
your boss’ approval. So, spend wisely!

Objectives

In this module, you will

 Log into NetSuite and change your password

 Set your default role as Administrator
 Learn how to navigate the application interface
 Explore the Help support features
 Customize your dashboard
 Create and view roles and permissions to understand how access to NetSuite is defined and
controlled
 Add yourself as an employee and provide Administrator access to your instructor
 Set up your own business, logo, business forms and warehouse location
 Configure accounting preferences and set up items in NetSuite for Modules 2 and 3 of the project

1 – 1: Logging in to NetSuite
In this exercise, you will log in to your NetSuite account with your assigned username and password.
You will then change your password.

If necessary, you can log out of NetSuite before completing this tutorial. However, once you
start the log in process, do not log out before completing this exercise (1-1). The next time you
log in, you will not need to reset your password or your default role.

1. Open your browser and type www.NetSuite.com in the address field. Make sure your
browser is set to accept cookies before proceeding to the next step. Note: You can use
any of the following browser and operating system combinations:
 Microsoft Edge Windows 10 Anniversary Update or later
 Google Chrome 71 Windows 10, Mac OS X 10.10 and newer
 Mozilla Firefox 60 Windows 10, Mac OS X 10.6 and newer
Please do not use Safari as there are known compatibility issues with this project.

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2. Click the Log in link at the top of the page. The NetSuite Log in page
opens:

Use the login username and

password provided by your
instructor.

3. Enter your assigned @txstate.edu login id and your temporary password (to be
provided by your Instructor).
4. Click the Log in button.
5. The Log In window opens.

6. Do not change your assigned @xtxstate.edu login.

7. The My Roles page should now be open on your screen. If it is not, in the top right corner
of the screen, mouse over the person icon and choose View My Roles. The My Roles
page opens.
8. Select the Administrator role.
9. In the Old Password field, enter the temporary password that you previously used.
10. Enter and confirm a New Password you want to use to access your account. Be sure your
new password complies with the requirements listed in the Password Criteria box.
11. Click the Submit button. The Set Password Security Question window opens. Choose
the security questions and provide the appropriate responses. Click Save.
12. Make sure that the user information in the top right of your screen corresponds to: Kathryn
Glass, ERP Fundamentals– Administrator. If the role is not the Administrator, mouse
over this area and select the Administrator role.

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13. Select the Home icon at the top left of the screen to proceed with the next exercise. From this
point forward you may stop at any time, save what you are doing and safely log out. You may
log back in at a later time and continue your work.

1 – 2: Navigating the Application Interface

In this exercise, you will explore your Dashboard, Tabs, and Menus.

If you have not previously done so, select the Home icon. This opens the Home page, which is also
called the Dashboard.

NetSuite Home page

(Dashboard)

Each of the rectangular boxes on this page is called a Portlet. The collection of portlets on your
dashboard contains key performance indicators, shortcuts, calendar, settings, etc.

As the Administrator for your company, you will be able to access all of your company’s information.
Much of this information can be accessed using the navigation tabs near the top of your window.

Administrator’s tabs
(Menus)

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When a tab is selected a page is displayed. As the Administrator, you have the following tabs: Home,
Activities, Payments, Transactions, Lists, Reports, Analytics, Documents, Setup, Customization,
Fixed Assets, Administration & Controls, SuiteApps, and Support. If you were logged in as another
user in your company, you would only be able to see the tabs based upon the assigned roles in the
organization. Only the Administrator has the Transactions, Lists, and Setup tabs.

The following list of questions and answers are to help you more easily learn about navigating with
NetSuite. You may enter your answers in the space provided. Your answers will not be graded for
accuracy but if you do not supply answers to all the questions in Module 1, you will not earn
points for the assignment.

1. Click the Home tab. What are some of the activities that you can do from this page?
Answer: manage reminder, calendar, access to other categories such as account payable,
account receivable, sale, purchasing... review audit log, analyze bank reconciliation, search
transaction, modify settings...

Click the Activities tab. What are some of the activities that you can do from this page?
Answer: setup/modify tasks and evens in calendar, review call, create schedule, reviews tasks

2. Click the Transactions tab. What are some of the activities that you can do from this page?
Answer: overview information from different categories such as account payable, account
receivable, sale, purchasing…, access transaction links, review transaction impacts

3. While on the Transactions page, scroll down to Sales in the Transactions Links portlet. If there
is a plus sign to the left of the word Sales, click on the plus sign to display all of the sales
transactions. What are some of the sales transactions that you can perform?
Answer: create opportunities, prepare quotes, enter sales orders, approve sales orders, manage
payment holds, invoice sales orders, create invoices, enter cash sales, create statement charges,
manage intercompany sales orders

4. Another way to navigate is by hovering over tabs and using drop down menus. Hover your cursor
over the Lists tab until you see a drop down menu.

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Slowly move your cursor down and hover over Accounting. Move your cursor to the right and select
Currencies. Do not select New. Another notation for this is: Lists > Accounting > Currencies. Note:
This notation will be used frequently throughout the project to provide guidance for using the menu lists
tutorial. What currencies are listed?
Answer: US dollar, British pound, Canadian dollar, Euro, Australia dollar

Go to Lists > Relationship > Customers. How many customers are listed? HINT: no need hand count
or export data to excel to count. The total is provided on the dashboard.
Answer: 74

What is the credit limit for Altima Technology?

Answer: 500,000.00

5. Click the Setup tab. At this point a setup wizard would step you through creating your company.
However, much of your company has already been configured for you including products,
customers, vendors, inventory, and business transactions. What are some of the other activities
that you can do from this page?
Answer: view help for a specific aspect of your account, access to tax and audit file, sale,
marketing, …

Feel free to explore the remaining tab centers.

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1 – 3: Getting Help

There are many ways to get help with NetSuite. In this exercise, you will learn three ways to access
NetSuite online support. You can (1) access online help, (2) search the knowledge base, and (3) view
training videos.

1. Online Help. A quick way to get online help with any NetSuite application page is by clicking Help
in the upper right corner of the page.

This opens a new browser tab and displays the NetSuite Help Center. You can search for help
using keywords in the search box or navigate to a particular area using the Table of Contents on
the left pane. When you want to return to NetSuite, you may close this browser tab or just re-
select your original NetSuite browser tab.

2. Knowledge Base. For other types of help, select the Support tab; then select Go to
SuiteAnswers from the SuiteAnswers portlet.

The SuiteAnswers page opens. This opens a new tab. When you want to return to NetSuite, you
may close this browser window or just re-select your original NetSuite browser window.

To search the knowledge base, enter a question at the top of the SuiteAnswers page. For
example, enter How can I enter personal preferences then click Enter. Several pages of

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resources are listed in order by relevance. The list identifies support articles, training videos, and
help topics. Click the Back browser button to return to the SuiteAnswers Home page.

3. Training Videos. To view a list of training videos, select the icon next to the SuiteAnswers logo at
the top of the webpage and then Videos from the drop-down box. A series of video thumbnails by
category will appear. Alternatively, go back to the SuiteAnswers Home page and scroll down and
you will see some video thumbnails and a option to browse by categories (e.g. Accounting & Tax,
CRM & Marketing, etc.)

4. Close this browser window or re-select the NetSuite browser window.

1 – 4: Customizing Your Home Page Dashboard

1. From your Home tab click the Personalize link located near the top-right corner

2. The Standard Content panel will automatically open up on the top of the page. Portlets that are
currently on your Home page are listed under “Currently Used”.

3. Add the following portlets by clicking on the icon: Calendar, Key Performance Indicators, New
Release, Recent Records, and Shortcuts. (Some of these portlets may already be on your
dashboard.)

4. Click on the small x in the upper right corner of the panel to close the Standard Content panel.
The selected portlets are displayed on your Home page dashboard.

5. Find the New Release portlet and mouse over the upper right corner. Choose “Remove.” This is
a quick way to remove a portlet from your dashboard.

6. If necessary, drag and drop the Recent Records portlet onto the top left corner of your dashboard.
You will find this portlet to be quite useful for searching recent information such as a specific
purchase order, inventory item, check, etc. while you are working through this simulation project.

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1 – 5: Setting Up your Company

Before starting this exercise, decide on the name of the company that you will create. The name that you
will choose for your company should incorporate your first and last name in the title. For example: The
Hi-Fi Audio Shop

In this exercise, you will set up your company name, address, and logo.

1. Find a JPG or GIF file on the Internet that you would like to appear on screens and printed forms
such as sales orders, purchase orders, invoices, etc. It is very important that the logo must be no
more than 200 pixels wide and 60 pixels high (approximately, 10 KB). Save the image file to your
computer.

A quick way to find an image is to go to the Google website and enter a search word. Narrow your
search by choosing Images, Search Tools, Size=Icon.

2. Navigate to Documents then click on the Images folder in NetSuite. Click on the Images folder.
The Folder Contents page displays a list of image file names.

3. Click the Add File button in the upper left corner of the page, select your image file that you saved
on your computer, and click Open. Verify that your image file has been uploaded by finding its file
name in the list of images. You can sort the list of file names by clicking on any column label.
4. Navigate to Setup > Company > Company Information. The Company Information page
displays.

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5. You will now rename your company and display your new logo. You may ignore any company
settings on this page that are not specifically addressed in the instructions. Remember, if you
would like to learn more about any of the fields on the NetSuite pages, just click Help in the upper
right corner of the page. Enter the following information.

 Company Name: Your new company name should indicate what type of business you are in
and should include your first and your last name somewhere in the name.
 Legal Name: Same company name that you used in the previous step
 Address fields: This is the address of our corporate headquarters, shipping address, and
return address. Enter a street address in San Francisco, California for all three fields. This does
not need to be a valid address. (Your NetSuite account is set up only with California tax
structures. So let’s move to California!)
 Return Email Address: Do not change.
 Company Logo (Forms): Select your uploaded image file from the drop down list. This will
show your image file on all printed forms and reports.
 Company Logo (Pages): Select your uploaded image file from the drop down list.
 Display Logo Internally: Checked. This will show your logo next to the NetSuite logo on the
upper left of your NetSuite browser pages. (If your logo is too large, there may be less room on
your NetSuite page to display information. In this case, use an image editing software package
to reduce your file size to less than 10 KB. Then repeat the steps to upload and select the
image file.)

6. Click the Save button when you are done.

7. Your company logo should automatically appear at the top of your browser. If necessary, you may
need to refresh your browser or change your role to another role like controller to get the new logo
to appear at the top of the browser. Be sure to change your role back to administrator if you
changed it to controller. Make sure that your logo takes up no more than approximately 1 inch of
space at the top of your screen. See example below.

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Company logo

1 – 6: Changing Employee Information

In this exercise you will 1) edit your name and job title in your employee record and 2) add your instructor
as an Administrator on your test account.

1. Navigate to Lists > Employees > Employees. The Employees page opens.
2. Click on the NAME field heading to sort the list alphabetically. Find the employee with your login
email address and the name Kathryn Glass. This is your default employee record that was
created with your account.
3. Click on the Edit hyperlink for this record. The Edit Employee form opens.

Enter your name here

4. Enter your first, middle initial, and last name in the Name fields.
5. Do not change your email address since this is your unique login username.
6. In the Job Title field, enter your favorite job title (Supervisor, Agent, Manager, President, etc.)
7. Click the Save button in the upper left corner of the page to save your employee changes.
8. The Employees page should once again be displayed. Confirm that your name is correctly listed
as an employee.
9. You should now see your name and your default role as the Administrator in the upper right portion
of the page. If your name is not displayed as the Administrator, try refreshing your browser page
or reselecting the administrator role to get your name to replace Kathryn Glass’s name.

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1 – 7: Configure Setup Options, Accounting Preferences and User

Roles
In this exercise you will configure setup options and accounting preferences for your NetSuite account
that will be used when selling your items. You may ignore any settings that are not specifically
addressed in this exercise. You will also create and modify user roles.

1. Navigate to Setup > Accounting > Accounting Preferences. The Accounting Preferences
page displays.

 Select the Order Management tab. In the Sales Orders section make sure the Default
Sales Order Status is set to Pending Approval. This option specifies that all sales orders
must be approved before they can be processed.
 Scroll down to the Receiving section and make sure the box next to Bill in Advance of
Receipt is unchecked. This will preclude us from weakening internal controls in the
Expenditure Cycle.
 Scroll down to the Vendor Bills section. Make sure Default Vendor Bill Status is set to
Pending Approval if it is set to some other option.

2. Select the General tab. In the Accounts Receivable section set the following parameters (if they
are not set already):

 Customer Credit Limit Handling: Warn Only. This option specifies that users will be warned when
a customer’s credit limit has been exceeded. Note the other options for this setting. More on this
later.
 Check the box next to Customer Credit Limit Includes Orders. This option specifies that the
Customer Credit Limit Handling will include sales orders and not just unpaid invoices in determining
whether a customer’s credit limit has been exceeded.

3. Click the Save button.

4. Navigate to Setup > Company > Enable Features. The Enable Features page displays.
5. Select the Transactions tab. In the Billing section (near the bottom of the screen), check the box
next to Billing Operations if it is not checked.
6. Select the Items & Inventory tab. In the Inventory section under the Inventory section, check the
box next to Advanced Inventory Management if it is not checked.
7. Click the Save button.
8. Navigate to Lists > Relationships > Customers. The Customers page displays.
9. Scroll down to Zenith Systems. Click Edit on left side. Select the Financial tab. In the Credit
Limit field, enter $600,000. In the Price Level field select Base Price. In the Terms field, select
Net 60. In the Tax Information field, clear the checkmark in the Taxable box. Zenith Systems
buys goods from you for resale, therefore you don’t need to charge and collect sales tax from them.
Click the Save button.

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1 – 8: Viewing Roles and Permissions

In this exercise, you will view and create user roles and their related permission levels.

Each authorized user (such as employees, customers, and vendors) is provided access to NetSuite by
assigning a userid. The userid authorizes the user to login to NetSuite (i.e. it “authenticates” the user).
Roles are NetSuite’s way of controlling access to data and processing functions. A Role is a collection of
permissions. Each userid is assigned a Role(s) which determines data and processing functions that the
user can access in NetSuite. You, as the Administrator, have a Full Access Role which allows you to
view and modify all of your company’s data and all NetSuite processing functions, to define all of the user
roles, and to assign role(s) to specific userids. Let’s investigate roles and permissions.

1. Navigate to Setup > Users/Roles > Manage Roles. The Manage Roles page opens.

2. Scroll down and select the Sales Person role. The Role page opens. Next, locate the
Permissions tab and then the Transactions subtab. Which permission level does the Sales
Person have for Sales Order transactions?
Answer: edit

3. Click the Lists subtab. Which permission level does the Sales Person have for Mass Updates?
Answer: edit

Full permission level allows users to delete records as well as add new ones. Edit allows users to
change existing data and create new data. However, with the Edit permission, users cannot delete
records. View permission allows users to view but not change data.

4. Click the Users tab. Are there any users currently assigned this role?
Answer: none

5. Click the Forms tab. List the first three of the many NetSuite forms that are available to a Sales
Person.
Answer: Vendor bill, Customer refund, Customer deposit

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From the exercise above, you should learn that NetSuite permits internal control policies and procedures
to be implemented using the combination of Roles and userids. Roles define the data and functions that
may be accessed but Roles do not specify WHO can access the data and functions. Roles must be
assigned to NetSuite users such that when a user logs in to NetSuite and is authenticated, only the
assigned Role functions and data access are available from the menus and screens. You are currently
using the Administrator role which allows you to create and modify roles and assign them to users.

1 – 9: Setting Up Accounting Periods

1. Navigate to Setup > Accounting > Manage Accounting Periods and scroll to the bottom of the
screen.

2. If your previous three fiscal years do not exist, click on the “Set Up Full Year” button and confirm the
following settings and click “Save.” You’ll need to do this for each year that is missing. For
example, you’ll want to ensure that 2021, 2022, 2023, and 2024 are all created. Now confirm that
the new periods have been created.

1 – 10: Viewing Chart of Accounts and Creating New General Ledger

Account

In this exercise, you will view your company’s chart of accounts and create a new general ledger
account. General Ledger (GL) information is transaction-based. Journal entries are created in the
General Ledger after a transaction is posted (saved). The General Ledger classifies all transactions by
accounts to accurately record financial information about your business. The main types of NetSuite
accounts include asset, liability, equity, income, cost, and expense. Perform the following steps to view
your chart of accounts and add a new GL account.

1. Access your Chart of Accounts by navigating to Setup > Accounting > Chart of Accounts.

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2. Click on any account name in the Account column to view all the transactions posted to the
account. Transactions will normally be posted for accounts that have a non-zero balance.

3. To create a new GL account, navigate to Setup > Accounting > Chart of Accounts, and then New. The
New Account page opens.

4. Enter the following information:

• Account Number: 1532
• Name: Automobiles
• Subaccount of: 1530 Vehicles
• Type: Fixed Asset
 Subsidiaries: Parent Company: United States - West

5. Click the Save button. Navigate to Setup > Accounting > Chart of Accounts and verify that your new
account has been added.

1 – 11: Entering Journal Entries

In this exercise, you will enter journal entries into the General Ledger for a cash advance from the Petty
Cash account.

1. Navigate to Transactions > Financial > Make Journal Entries. The New Journal page displays. Note
that NetSuite will assigns a unique transaction number, Entry No, to the journal entries that you will
be entering. Make a note of this number.

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2. On the Lines tab, enter the following information.

• Date: 12/15/2023
• Subsidiary: United States - West
• Account: Select 1532 PPE - Vehicles from the list of accounts.
• Debit: 12,900
• Click the Add button below this line item.
• Account: Select 2100 Payables
• Credit: 12,900
• Click the Add button again below this line item.

3. Click the Save button to post your journal entries. You may want to write down the transaction
number, which you will use later. JE440

Exercise – Create a new general ledger account and enter the following three transactions

1. You are in luck! You have secured a small business loan from Citigroup. Before making the
appropriate journal entries, you will first need to create two new accounts. Create a new Long
Term Liability account. The new account number is 2815. Name it Citigroup Note and change
Subaccount of to 2810 Long-Term Debt – Notes Payable and change Type to Long Term Liability
and change Subsidiaries to Parent Company: United States – West then Save.

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2. Your Citigroup business loan is $50,000.00 with a 5 year term and an annual interest rate of 20%.
You have deposited most of the money in your company’s savings account. Create a journal entry
dated 12/18/2023 to credit your new 2815 account with $50,000.00, debit 1000 Cash with
$50,000.00. Save the journal entries. JE441

3. The company is purchasing a delivery truck. Pay with $26,000.00 from 1000 Cash on Hand. Date
the journal entry for 12/20/2023. Use the Memo fields to indicate that this is for the purchase of
the truck. Save the journal entries. JE442

4. You stopped at a filling station on 12/20/2023 and purchased $150.00 in diesel fuel for your truck.
Create journal entries to record this expense in the 6022 Automobile Expense: Gas & Oil account
using funds from the 1000 Cash account. Save the journal entries. JE443

You may sign out of your NetSuite account. This is the end of NetSuite Module 1. Be sure you
recorded your responses to the questions above. Save this file and submit it on Canvas for
grading.

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