NetClose - Modify Accruals
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.
There are two ways you can modify accruals in NetClose:
- Manual Update
- CSV Import
See below for step-by-step instructions for both options.
Step by Step
1. Manual Update
Navigate to the accrual record by going to NetClose > Accruals > All Accruals. Select View next to the desired accrual to modify.
Click the Modify button at the top of the screen.
Fill out the fields as follows:
| Name | Name of the accrual. This will auto-populate but can be changed. | Payroll Accrual - March | 2022-04-25 |
| Date | Date of the modification. The journal adjustment will be posted on this day. | 4/25/2022 |
| Amount | The dollar amount of the adjustment. It can be positive or negative. | 500 |
| JE Memo | Memo to post with the journal entry. | Increase to accrual for bonus |
Once the information is entered, click Save.
2. CSV Import
NetClose Accrual Modification Template
- Download the above template and fill it out with the information for your accrual modifications.
- Navigate to Setup > Import/Export > Import CSV Records
- Import Type = Custom Records
- Record Type = NetClose Accrual Modification
- Select the file you need to upload
- Click "Next" and choose ADD
- Click "Next" and map the columns on the import file to the related field in NetClose
- Click "Next" and select Run
Once the modifications are entered, follow the steps below to approve them:
If using approvals, navigate to the Approve Accruals screen, select the adjustment entry, and click Submit. The JE will post once approved.
The accrual record will show the new amount and the modification history.