NetSuite ERP for Administrators

Items/Transactions tab

Ask your accountant to review the account selections on this tab, as this will determine the default accounts that will be used for all these transactions. The DEFAULT EXPENSE ACCOUNT and DEFAULT PAYMENT ACCOUNT are the selections that are most applicable to this process. The DEFAULT PAYABLE ACCOUNT selection will appear by default when the accountant is paying bills. The default COSTING METHOD is a crucial selection that will affect all your processes. The options are FIFO, LIFO, and Average. There is also a standard costing feature that can be enabled if necessary and, if you purchase this feature, you will find it under Setup | Company | Enable Features:

Accounts  on Accounting Preferences