Gathering requirements for RTR transactions
The name of this process sounds very generic, but this is for a good reason – it is. You may be thinking, RTR could include anything, but it’s meant to convey a sense of the general setup we need to do in the account and then a financial connection. This is a process every business (including non-profits) has since it includes things such as setting up the accounting periods and accounting preferences and defines how they will use journal entries and perform period closes. This also includes any other sort of around-the-edges adjustments that every business needs from time to time. Whether they sell inventory, collect donations for a charity, or trade cyber currencies, every business needs to make occasional adjustments to their accounting.
Here are some topics to cover when analyzing the client’s RTR needs:
- How do they want to track accounting periods in NetSuite? (We talked about this in the previous...
