#99 | NetSuite How to Memorize a Journal Entry

“Never memorize something that you can look up.” In this tutorial, you will be able to relate well to this quote from Albert Einstein. With NetSuite, you don’t have to memorize in your head a journal entry you want to remember. You can easily do this by using the memorize feature for journal entries in NetSuite.

In this guide, you will learn about the following:

• Steps in Creating a Journal Entry
• Steps in Memorizing a Journal Entry

I suggest you watch the video. It’s easier to understand if you are a visual/audio learner. The content below is the same as the video. It’s for those who learn by reading.

Steps in Creating a Journal Entry

Before you memorize a journal entry, you need to create one first. Here are the steps to follow when making one.

• Step 1: Go to Transactions → Financial → Make Journal Entries.
• Step 2: Choose a Subsidiary from the list.
• Step 3: Enter the details in the necessary fields.
  • Debit / Credit – Assign from the list your debit and credit account.
  • Amount – Put an amount for each account.
  • Memo – Add a phrase that describes your entry.

You can also read our blog on how to create a manual journal entry for thorough instructions on creating a journal entry.

Steps in Memorizing a Journal Entry

After creating a journal entry, you are now ready to memorize.

• Step 1: Click Actions and select Memorize.Note that you should copy and paste the description memo into the primary information.

• Step 2: Enter the details in the necessary fields.
  • Name – Change the name related to the journal entry.
  • Journal – Options are Remind Me and Automatic.
  • Frequency – Select the applicable times the transaction will happen.
  • Next date – Set the date when you want the next posting of the transaction to happen.
  • Number Remaining – Set how many times the transaction will post.
• Step 3: Click the Save button at the lower or upper part of the page.

• Step 4: Click Edit or View next to the memorized transaction if you want to modify any information.

• Step 5: Click Save. When the dialogue box pops up, click OK to confirm the changes are made.

Summary
You just learned the step-by-step procedure on how to memorize a journal entry in NetSuite.

To recap, you can click on the links below.

• Steps in Creating a Journal Entry
• Steps in Memorizing a Journal Entry