When entering a journal, which two boxes must be used to reverse the journal entry next month, so that the reversal is not created until then?…

In NetSuite, to have the system generate a reversing journal entry next month (rather than immediately), you must:

1. Select Defer Entry – this tells NetSuite to wait before creating the reversing entry.

2. Specify the Reversal Date – the future date (e.g., first day of the next month) on which the reversal will be created and posted.

The combination of these two fields defers creation until the indicated date, satisfying the requirement.

A. Do Not Post Until – not a journal-entry field; used on vendor bills & sales orders, not relevant to reversals.

C. Memo – purely descriptive, has no posting or reversal logic.

D. Pending Approval – a status flag controlling approval, not timing of automatically created reversals.

1. Oracle NetSuite Help Center

“Reversing Journal Entries” → Fields: Defer Entry; Reversal Date. (“When you check Defer Entry and enter a Reversal Date

NetSuite creates the reversing journal entry on that date

not before.”)

2. Oracle NetSuite Help Center

“Creating Journal Entries” → section “Automatic Reversals.” (“If Defer Entry is cleared

the reversing entry is created immediately; if selected

it is generated on the Reversal Date.”)

3. Oracle NetSuite 2024 Release Notes for Financials

p. 21

“Journal Entry Enhancements” – reiterates use of Defer Entry and Reversal Date to schedule future reversals.