A short product demo by Adam Riches, CPA showing NetGain’s Shared Transactions tool for NetSuite. The video explains how users can allocate expense lines across subsidiaries and segments using a worksheet, apply templates, adjust weights (not requiring percentages), create intercompany journals, and view allocation journals and audit trails directly from the source bill.
Accurately accounting for the complexities of your.
Business can be unnecessarily challenging, so NetGain.
Creates easy to use tools to simplify your processes. In NetSuite, our shared transactions tool is designed to quickly split expenses between your subsidiaries and segments directly on the bills the expenses originate from.
This is a standard bill in netsuite. We have a few expense lines on this bill. You can see at the top there.
Is a new button. Allocate expenses by clicking this button.
A new screen will open pulling those.
Same transaction lines onto this half of the worksheet.
On the other side is the Allocation section. This screen is where we will select.
The expenses to allocate and the method of allocation.
We support the use of templates and.
Highly recommend their use for ease and standardization in your processes.
You can see the multiple examples I have here and additional templates can easily.
Be added to the product through the.
Drop down menu and then applied when.
I select the template. See how the selected expense is automatically broken up.
I can then override any of these.
Lines by simply selecting the Edit button to the side.
Add additional lines to the allocations by.
Clicking the new button.
A new line will appear where you.
Can enter the relevant information.
Your transaction amount will be dynamically weighted.
By the total amount entered in the weight column, so there is no requirement to have it add to 100 or even use percentages. You will notice that we not only support the standard segments but also subsidiaries. We have designed this tool to support intercompany allocations by simply selecting the subsidiaries and weights for the allocation. Once your allocations are all entered as indicated by the green checkbox on the transaction line, we will click Save to trigger the system to process and create the allocation journal entry for us.
I can now go back to the.
Bill to see the effect of this allocation on the bill itself. There is a new sub tab called Share Transaction.
Here the allocation weights and journal can.
Easily be accessed directly from the bill, keeping all the history in one place. On the Allocation Impact sub tab you can see the journal that was posted.
We can also click into the journal.
To see the full details.
You can see when we allocate by.
Subsidiary we post an advanced intercompany journal in netsuite.
Going back to the bill.
We can also track the allocation split by clicking on the Allocation sub tab.
Here we can easily see what was.
Broken out and the weighted $am. We wanted to provide clear audit trails for the allocation journals that are made.
In your NetSuite account, so we made.
Sure everything is easy to navigate to and drill into directly from the source transaction.
These allocations are then journals that will flow through to your reporting, making it.
Easy to have your financials in order.
NetGain works to streamline accounting processes in.
NetSuite to save you time, reduce error and keep you audit compliant. Take a step towards progress by getting shared transactions into your NetSuite account.
