The following instructions outlined how to setup NetSuite for a New Tax Year creating Tax Periods and Accounting Periods.

Step-by-step guide

Login to NetSuite as Administrator and navigate to Setup > Accounting > Manage Accounting Period
Click on Setup Full Year

3. Enter Applicable year for Fiscal Year End and Save

4. Your Full Year Period will then display broken down by quarter as below

Once you have setup your Accounting Periods you should also setup your Tax Periods

Login to NetSuite as Administrator and navigate to Setup > Accounting > Manage Tax Periods

2. Click on Setup Full Year

3. Enter applicable Year for Fiscal Year End and Save

4. Your Full Year Period will then display broken down by quarter as below

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