NetClose - Modify Accruals

Overview

Accruals occasionally need to be adjusted up or down based on current information. Modifications are made from the accrual screen; all history can be tracked from the accrual record.

Prerequisites

The accrual must already be created in the system and approved.

Step by Step

There are two ways you can modify accruals in NetClose. The modification can be processed manually or through CSV import. 

Manual Update

  1. Navigate to the accrual record  you wish to modify (NetClose > Accruals > All Accruals).
  2. Click the Modify button at the top of the screen. 
  3. Fill out the fields as follows:
NameName of the accrual. This will auto-populate but can be changed.Software Accrual - April| 2025-04-22
DateDate of the modification. The journal adjustment will be posted on this day.4/22/2025
AmountThe dollar amount of the adjustment. It can be positive or negative.
Will update with changes to the New Accrual Total Amount field. 		500
New Accrual Total AmountThe new total amount for the accrual.
Will update with changes to the Amount field.		8,500
JE MemoMemo to post with the journal entry.Increase to accrual for bonus

4. Once the information is entered, click Save.  

5.  If approval is required, the modification will be in a Status of "Pending". To approve, select Approve  or follow the NetClose - Approve Accruals steps

6. Once approved the status will change to "Accrued" and the Journal Entry will appear

7. The Accrual Record will also be updated to show the modification

CSV Import

  1. Download the NetClose Accrual Modification Template and fill it out with the information for your accrual modifications.
  2. Navigate to Setup > Import/Export > Import CSV Records
    1. Select Import Type = Custom Records
    2. Select Record Type = NetClose Accrual Modification
    3. Select the file you need to upload
    4. Click "Next"
    5.  Under Data Handling select "Add"
    6. Check the box to select "Run Server SuiteScript and Trigger Workflows"
    7. Click "Next" 
    8. Map the columns on the import file to the related field in NetClose
    9. Click "Next"
    10. Select "Run"
  3. Once the modifications are entered, follow the steps below to approve them:
    1. If using approvals, navigate to the NetClose > Acruals > Approve Accruals screen
    2. Select the desired modifications and click "Submit". The JE will post once approved.

4. The accrual record will show the new amount and the modification history:

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