Changing the name of an item in NetSuite does not retroactively alter the item's name in transactions from closed periods. The system is designed to maintain the integrity of historical data, including transaction records, by displaying the item name as it was at the time of the original transaction. This feature ensures that financial and sales reports remain consistent and accurate over time, regardless of subsequent changes to item names. It preserves the audit trail and facilitates accurate historical analysis and compliance with accounting principles.References: NetSuite's core principles of data integrity and consistency as outlined in the platform's documentation and training materials, with a specific focus on how changes to master data, such as item names, are handled in relation to historical transactions.