Changing the COGS and Asset Accounts on Assembly and Inventory Items
When you update the Cost of Goods Sold (COGS) or Asset account on an assembly or inventory item, you can also update the accounts on existing transactions. This option becomes available when the Do Not Update COGS and Asset Accounts on Existing Transactions When Accounts Are Changed preference is turned on. You can set this preference in Setup > Accounting > Accounting Preferences > Items/Transactions > Accounts.
To update the COGS or Asset account on an item:
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Find the assembly or inventory item record you want to update.
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On the Accounting subtab, select the appropriate COGS Account or Asset Account.
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Check the Update COGS and Asset accounts on existing transactions when accounts are changed box. This option lets you retroactively apply the changes to existing transactions.
Important:If you want apply your COGS or Asset account changes to existing transactions, be sure to check this box before you save the item record. Otherwise, NetSuite follows your Accounting Preference and applies your account updates only to new transactions.
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Click Save.
NetSuite displays a message to confirm if you want to proceed with updating the accounts only on existing transactions. Click OK.
When you edit the same item record again, the box is cleared and disabled so that you can reevaluate how you want to apply the account updates. The box becomes enabled in edit mode only when you select a different COGS or Asset account from the list.