NetAsset - Journal Posting Date Settings
NetAsset posts transactions directly to your GL using Custom Transactions. The result is that there are a number of native NetSuite settings as well as NetAsset settings that work together to determine how and what gets populated on the transactions.
A common question is what posting date the asset transactions will use. This article walks through all the different settings and order of operations they are applied in.
First check if the period is Open, Closed, or Locked. Navigate to Setup > Accounting > Manage Accounting Periods.
Open Period
This means the period is open and there are no restrictions. The Posting Period will follow default behavior. This is indicated with an "unlocked" lock icon across all three rows:
Default Behavior
The NetAsset default behavior is that the posting period will be the same period the Transaction Date falls into. The Transaction Date comes from the depreciation schedule on the asset record.
The period start date on the depreciation schedule is the Transaction Date and the system will try to match the depreciation entry (or capitalization entry) to the posting period that matches that date. In this example, when running the entry for the highlighted schedule line, the system would try to post the JE in April 2026.
Fully Closed Period
This means the accounting period is fully locked and has been closed. Transactions cannot be posted in a closed period. A closed period is indicated with a checkmark:
In the case of a fully closed period, the system will look at your accounting preferences in NetSuite (Setup > Accounting > Accounting Preferences > General) to determine how/if the entry should be posted. The recommendation for the settings is:
- Allow Transaction Date Outside of Posting Period – This must be set to Warn or Allow.
- Default Posting Period When Transaction Date In Closed Period – Either First Open Period or Current Period can be selected; both options will allow the journal entries to be recorded.
Allow Transaction Date Outside of Posting Period = Disallow
While a valid setting option, this means you cannot post any transaction with a transaction date in a closed period. You will get an error when you try to run your journals in NetAsset.
Locked Period
This means the period is not yet fully closed, but AP, AR, and/or all G/L Transactions have been locked. This is indicated with a "locked" lock icon:
When the period is Locked, the system will look at the NetAsset system setup option called "Locked Period Posting Preference".
To see what you have currently selected, navigate to NetAsset > NetAsset Setup > System Setup. Scroll to the Transaction Settings section of the page.
The options are:
| Setting Option | Behavior |
| Do Not Allow | Will return an error message until the accounting period is unlocked. |
| First Open Period | Will move the transaction to post in the first open and unlocked accounting period. |
| Selected Period | Will post the transaction in the period selected when initiating the transaction processing. |
| Allow | Will allow the system to post the JEs in the locked period so that the transaction date matches the posting period (overriding the NetSuite lock). |
Selected Period Example
Transaction Date is 1/1, First Open Period is February, Transaction Date on the Run Monthly Journal Page is March.
The Posting Period will be March for the transactions below.
When running transactions for multiple periods, only the transactions dated in locked periods will follow this behavior. Transactions in normal open periods will post in those periods.
Recommendation
If you don't want the user to have to keep track of which periods are locked and which period they have selected on the journal processing page, the recomendation is setting the "Locked Period Posting Preference" in NetAsset system setup to be "First Open Period" or "Allow."