NetClose - Matching Accruals
Accruals need to be reversed once the bill is entered into NetSuite. The transaction must be matched to the accrual, and then an adjustment can be run to reverse the accrual.
Prerequisites
The accrual must already be created in the system. The bill must also be entered to match the accrual.
Step by Step
The transaction must be matched to the accrual first, and then the system can process the adjustment.
Matching
The accrual can be tagged to the transaction when the transaction is created or matched through our matching page.
Option 1:
To match the transaction initially, select the appropriate accrual record from the NetClose Accrual drop-down box when creating the bill.
This will connect the transaction to the accrual so it shows on the adjustment page.
Option 2:
To match the transaction after it is created, navigate to NetClose > Accruals > Match Accruals. This opens a reconciliation page that shows all open accruals and unmatched bills in NetSuite. The list can be filtered to find the related bill easily.
Select the accrual and the transaction(s) to be matched.
Click Match. This will tag the accrual to the line item on the bill and remove the bill from the available list.