Netsuite is a powerful software solution that helps businesses manage their operations, finances, and customer relationships. One of its key features is custom segments, which allow users to categorize and analyze data in more meaningful ways.
In our previous blog post, we talk about the standard Netsuite segment and how it can be used. You can access the blog via how-to-use-netsuite-financial-segment-for-your-business
In this blog post, we’ll explain what custom segments are, why they’re important, and how you can use them to improve your business operations.
Custom segments has all the capability of the standard segment (department, class, and location) but with the customizability of custom records and field. Think of it as a way to extend more segment when the standard offered by Netsuite is insufficient.
Custom segments are important for several reasons.
While you may think that all the above could be achieve using a custom field or records, why should you consider using custom segment? The answer is pretty simple, you can get all the above benefits with custom records and fields, but it won’t be tied to the financial reporting. Custom segment are available as part of the standard financial reporting once it is created.
Another reason to use custom segment is that you can use it to restrict access to information and map them during integration.
Prior to using the custom segments, it must first be enabled.
To enable the custom segments, navigate to “Setup” menu, hover over the company and select Enable Features. Go to SuiteCloud subtab, scroll down to SuiteGL subsection and check the Custom Segment checkbox.
Once its enabled, creating custom segments in Netsuite is a straightforward process. First, you’ll need to navigate to the “Customization” menu and hover to “Lists, Records, & Fields”, then select Custom Segments.
From there, you can create a new custom segment and define its properties, such as the segment type, name, and values. If you want the custom segment to behave like the standard Netsuite Segment, remember to select the GL Impact Checkbox.
Once you’ve created your custom segment, you can start using it to categorize your data and gain new insights.
To make the most of your custom segments, it’s important to follow some best practices.
Custom segments are a powerful tool for businesses using Netsuite. By providing a more granular view of your data, custom segments can help you make better decisions and improve your overall operations.
If you’re not already using custom segments in Netsuite, now is the time to start. With a little bit of planning, creativity and effort, you can create custom segments that provide valuable insights into your business.
Meet Kuan Boon Lim (林观文), the Netsuite Proselytizer wanabee! who is dedicated to spreading the good word about seamless business management and NetSuite to all who will listen. With years of experience in ERP pre-sales, implementation, he is fully equipped to help businesses of all sizes take their operations to the next level.
He is currently the GM of Pre-sales for BlackOak Consulting Sdn Bhd.