Setting up and using the General Ledger
As we discussed in Chapter 6, Understanding the Organization's Accounting and Finance, most clients will know what they want their Chart of Accounts (COA) to consist of when they transition into the cloud. NetSuite does come with a COA list in every new account, just in case you ever work with a brand-new company, but in most cases, we remove those accounts early in the project and replace them with the company's list. Most established businesses will have accounts they need to import and use right away. We typically help each client import their COA from a CSV file since this is relatively simple to do (and this helps the financial users become familiar with using the CSV Import feature). The good news here is that the system offers a wide variety of account types (expense, income, credit card, and so on), which should satisfy most business accounting needs.
Important Note
Remember that when a business has a OneWorld account...
