Mastering GL Audit Numbering in NetSuite

The GL Audit Numbering feature in NetSuite helps users maintain financial compliance and control. This guide explains how to set up and use the feature, including creating custom GL audit numbering sequences. Let’s dive in!

‍

What is GL Audit Numbering?
Many NetSuite users implement advanced transaction numbering to ensure sequential numbering for each transaction type based on predefined rules.

For instance, the first bill payment in your account could be numbered VB0001, the second VB0002, and so on. Similarly, invoices might follow a sequence like INV0001, INV0002, etc.

‍

In the General Ledger, transactions retain their original numbers rather than being assigned new GL numbers. However, in some countries, compliance regulations require sequential GL numbering.

‍

Setting Up GL Audit Numbering in NetSuite

1. Enable GL Audit Numbering and Accounting Periods under Basic Features in the Accounting tab of Enable Features.
2. Choose whether to use GL Impact Locking, activating it in Company Information or, for OneWorld accounts, in the subsidiary record.

‍

Creating GL Audit Numbering Sequences

The next step in GL audit numbering is creating the GL audit numbering sequences.

You can do this in two ways:

1. From the Period Close Checklist: Select the GL Audit Numbering task, which will direct you to the GL Audit Numbering Sequence page.
2. Direct Navigation: Go to Transactions > Management > GL Audit Numbering Sequences > New.

Start by naming the sequence and selecting the posting period, making sure the name relates to the period. Then, choose the subsidiaries for this sequence—ideally, one per sequence, though multiple can be selected using shift or control/command keys.

Next, choose the numbering type:

• Repeatable: Can be run multiple times, with GL numbers changing each time. If transactions are deleted, you can rerun the sequence to maintain gapless numbering.
• Permanent: The assigned number remains fixed, requiring GL Impact Locking to avoid gaps when transactions are edited or deleted.

You can also link an accounting book to the sequence and exclude zero-amount transactions from the sequence by selecting the Exclude Zero Amount Transactions option.

‍

Numbering

The Numbering section on the GL Audit Numbering Sequence page lets you define your preferred numbering rules.

You can add a prefix and suffix to GL transaction numbers, like INV for invoices or VB for vendor bills.

Set the minimum number of digits (optional); if blank, numbering starts at 1. For example, setting it to 4 makes the first number 0001.

The initial transaction number defaults to 1 but can be changed.

Lastly, use the Order By dropdown to sort transactions by Transaction Date or Transaction Entry Date.

Recurring

The last section on this page is the Recurring field group.

In the Recurring section, you can schedule a permanent numbering sequence to run automatically or select No Recurring if not needed.

‍

Recurring options:

• Hourly or Daily, with further scheduling under respective fields.
• Set the initial run time using First Run Time.

After saving, the Next Run field shows the next scheduled run date and time.

‍

For more information about GL Audit Numbering in NetSuite talk to our team of experts today.