How to Use Shared Transactions in NetSuite 4 - Using the SuiteApp

Welcome back. And now it's time for the part we've all been waiting for. Let's actually go and use the shared transactions. As you recall, we've downloaded, we have set up the intercompany and we have set up the suite app, all in the space of about 15 or 20 minutes. So now that we've done that, let's go ahead and begin doing our allocations. To do that, I'm going to really show four parts on a single vendor bill. We're going to use the STA worksheet, we're going to set up an intra company template, we're going to use an intercompany direct posting. We're going to set up an intercompany template and then demonstrate how all of these features can be used on the exact same transaction. For the sake of time, I've gone ahead and set up one that has the four pieces that we're looking for. This is a standard NetSuite vendor bill and it's with AECOM Business Solutions. It's here, my subsidiaries in the United States. And you can see I've got amount where I have four lines here, each going to different GL accounts with different amounts. We do that to make it easy to see that. Let's focus on line one here. All right, 6102 and I have $10,000. I have no template and I want to allocate this line. So what did I do there in this one? This is meant to be an allocation that doesn't use a template, purely to be done on the allocate expenses worksheet. So as I save this, I can just hit a quick allocate expenses. And this is going to bring up the worksheet. We'll come back and forth between this. As we look at it, as this loads, it's bringing in all of those lines and then all of the allocations that we've done in the past. Right. The worksheet comes up and you can see that this is, it's linked to the bill that we've set up here. I've brought in some information and of course I can do a view here of a couple of things. This is the split view. I personally like the split view turned off where it's there on side to side. But you can make your choice. And one of the things that's unique about shared transactions is each line can have its own allocation. So as you see, there are four lines here corresponding to the four lines that were put on the vendor bill. This first line here has been allocated as by the green box. And you can see down here, this is where I have created the allocation for this line individually. Okay, if I wanted to, we could add a template to this, we could remove lines, we can add lines, we can have quite a bit of flexibility here. So for example, if I wanted to edit this and let's go ahead and edit the class here and let's go ahead and we'll just put services with respect to that save it. And what I'm doing now is I'm going to add class to this line of this allocation weight for this one general ledger line. So let's go ahead and hit save. And you can see as it saves this, it uses the new Oracle UI framework and, and it's quickly going to post this. Now that it's been posted. As we save this, you can see that it's brought me back to the screen and on my shared transactions. This particular line here has now been updated on the allocation where we've added the services class and then on the GL impact with respect to the journal that was generated. I also now have added services to this line here of the advanced intercompany journal that has that. The second piece that we want to do is how do we do direct intercompany? When people asked us about some of the other solutions out there, the number one most requested feature that we received was I would like to be able to just intercompany something directly from the face of the vendor bill and send it to the other subsidiary without a lot of effort. And so this is what is our answer that with a direct one to one. Alright, so on 6103 what I did here is I set the amount and then here all I've done is taken these four lines and I have said I want this to go to the Natera USA subsidiary and I want this to post to the shared transaction department here. Okay, there's no need to go to the allocate expenses, I don't have to do anything. I've set this and when I saved it, it directly created that, that piece here. If I come back over to the GL impact and I'm just going to open up this journal here, this has the entire amount of the pieces and then when I come down here to Natera usa, here was my direct posting that was sent out or I'm sorry, apologize, it was right here that went through the intercompany process. Okay, so it's added to this complex intercompany journal where we Have a mix of intra and intercompany to do that on the worksheet. When I come back and explore the worksheet, you'll see that this 10,000 does not have an allocated checkbox. That's because this was never applied. It was done via the direct posting on the face. So no need to come into the shared transaction worksheet. If I'm just looking to accomplish that. Again, that was the most requested feature that we had from allocations and that's how you can accomplish that. Alright, transaction number three here, 6104 for $20,000. What we did here is we actually have put on this now a shared transaction template, okay, Called the vacation allocation. I could click on this and look at it. It will bring up. Here are my weights, I'm splitting this and this is a complex template. I have 25%, 25% that's going to Accounting and Finance, General admin. I have 25% to professional services going intercompany to the Americas. I have 25% going to professional services to America's Natera USA, another subsidiary. And then I have 25% going to legal. So in this single template what I've done is I've combined things that stay within the company here where I'm allocating just by department and then I'm also pushing out my professional services cost center department out via intercompany. So as you can see we are able to add some very complex inter allocations here, mixing intercompany and intra company on the same line. And then this can be unique for it. Alright, so this one here, if I go to the template, when I save this, it will automatically spread this when we come back to the allocate expenses that's found on this line right here. And down here is my vacation allocation. You see that I actually selected one there. Now if I needed to, let's say I started with this template but I said, you know what we need to do? Make a couple of changes. Well, it is very easy for me to come in here and make a custom template that is only for this transaction. Starting from this template I could come in here, let's add a line and we'll just make this 10 and we're going to send this to Natera USA and in this case the department is not going to be be Professional Services. We'll send this to the general and admin department. Okay? And then I'm going to reduce what went to Natera here, let me click on that. And then the Natera here I'm going to reduce that down to 50. Okay, so we'll take the intercompany, we'll just add that and we'll go ahead and save it. Now the transaction is unwinding that journal. It'll take just a moment and then reposting that journal with the correct allocation. So we'll come back here. Face of the bill still looks exactly the same, but I come to my shared transactions and now you can see that I have added down here on my allocation line, $2,000 to general and admin on the one. And if I look at the GL impact here, down below here, my 2,000 to intercompany to Natera with the general and admin correctly being posted. Right. All of this also was done with respect to now I could send the approval status, post it, and then the journals would also post as well. So let's take a quick summary and talk about what we did in the last 20 to 30 minutes. We've been able to set this up. We went through each of those pieces, we downloaded the app, we then set up intercompany, and then we set up the suiteapp configurations. Most importantly here, as we've gone through it, we've created a complex allocation that never before has been achievable in netsuite. With this kind of ease, we're able to create a unique allocation on each line, both inter and intercompany. We're able to update those allocations and create custom templates. We're really excited to share shared transactions with you. We look forward to answering any questions you might have. And as always, I hope these videos are helpful. Thank you.