Stock synchronization between NetSuite and Magento are done based on the following principles:

NetSuite is the single source of truth for inventory.
Inventory updates import and change the quantity in Magento, ignoring the ordered quantity in the queue.
Single Stock and Multi Stock Magento modes are supported by the NetSuite Connector. Inventory is managed on the NetSuite side so we don't need multiple stocks in Magento.

The options below should be configured for proper stock synchronization.

Configuration name	Value Type	Additional Information
Location internal id	Integer	NetSuite supports multiple stock locations (warehouses). Magento does not (by default, read below for Multi Source Inventory implementation), so it is necessary to specify the location from where Magento will grab stocks. Oleksandr Kozyr (Unlicensed) this looks of. Do we even use this still? In case you need to handle multiple locations: If you are fine with updating stocks only once a few hours (how often really depends on your catalog size, but assume 6h as a default), then you can create a Saved Search as described below. As long as you can express your stock as a single numeric value in a single column, we can use that.
Stock stored at location level?	Boolean	While by default the stock information is present at the location level, some users may choose to expose it as a custom field at the product level. This flag instructs the connector on where to look for stock information. This config is ignored for Inventory Multi Management NSC setup.
Order Location Id	Integer	Internal Id for the Order Export usage. It can be the same or differ from the Stock Location - Stock Options
Quantity field type	Select	When 'Standard' is selected - 'Standard quantity field name' will be used, otherwise - 'Quantity field name'
Quantity field name	Text	The exact field name that contains the stock number. For fields at the product level, only custom fields are accepted. For fields at the location level, you can specify either custom or standard fields. A new setting will appear, "Quantity field type", where you can define whether the field is standard or custom.
Standard quantity field name	Integer	Used when grabbing stock at product import. Must be an InventoryItemLocations standard field.
Update the stocks every N minutes	Integer	This value defines the frequency of the updates. Based on your catalog size, you can tweak this up or down.
Saved Stock search internal id	Integer	See the section below.
Page size for the saved search query	Integer	The stock information is paged when grabbed. This value defines how many stock values are grabbed at once. 500 is the maximum NetSuite will allow.
Change stock status when under zero items	Boolean	If this is set, then when the stock level reaches zero, the status will get changed to "out of stock", then the status will be changed to "in stock" when quantity is greater than zero. If this option is not set then status will always stay as "In stock". This is useful when you allow backorders.
Grab stock updates when importing products	Boolean	If this is set to No, then the only stock update will be the full one, based on the Saved Search. You would want this when the stock is not stored in a single location and the Saved Search is the only way to easily aggregate stock into a single column.

Saved Search for Stock

Since the stock update is a frequent operation on all products, RW wanted to make it as fast as possible. Instead of querying NetSuite for all product information then extracting the stock, a Saved Search must be created so as to grab only the fields we require. The Saved Search must contain at least 2 fields (it can contain more but they will be ignored):

Item Internal ID
The field that contains the stock number as it was defined in the "Quantity field name" setting

Saved Search

If the "Quantity Field Name" is at the location level, then you will be getting a row for each location. Mitigate this by adding filter criteria to the search to list only the location you are pulling from (the one that you defined in "Location internal id")

Saved Search

If you don't use stocks for specific product types (i.e. matrixes do not have stocks, only their subitems have), filter them out with criteria conditions. This way you will prevent unnecessary data processing.

Saved Search

You may want to have some other specific conditions added to the filtering criteria. The additional filters will save time and resources for stock updates in Magento.

Saved Search is required in the format described here. The Saved Search ID needs to be used for the Saved Stock Search Internal Id Configuration name to get Stock Updates working!

Saved Search Creation in NetSuite

Step-by-step guide 2024.2 Saved Search Creation in NetSuite

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