NetClose - Modify Accruals

Overview

Accruals may need to be increased or decreased based on updated information. These changes are made directly from the accrual record and are tracked in the accrual's history. Note that this process is classified as a modification, not an adjustment.

Prerequisites

The accrual must be created and approved in the system before it can be modified.

Step-by-Step Process

Accruals in NetClose can be modified using one of two methods: manually through the user interface or by importing changes via CSV.

Manual Update

Navigate to NetClose > Accruals > All Accruals and select the accrual record to be modified.
Click the Modify button at the top of the screen:
On the next screen, complete the fields as detailed in the table below:

Name	Description	Example
Name	Name of the accrual. This auto-populates but can be edited.	Software Accrual - April \| 2025-04-22
Date	Date of the modification. The journal adjustment will be posted on this day.	4/22/2025
Amount	The dollar amount of the adjustment, which can be either positive or negative. This field automatically updates based on changes made to the New Accrual Total Amount field.	500
New Accrual Total Amount	The updated total amount of the accrual. This field automatically reflects changes made to the Amount field.	8,500
JE Memo	Memo to post with the journal entry.	Increase to accrual for bonus

Once the information is entered, click Save.
If approval is required, the modification will have a status of Pending. To approve, select Approve or follow the accrual approval process:
Once approved, the status will update to Accrued and the corresponding journal entry will be generated:
The accrual record will also be updated to reflect the modification:

CSV Import

Download the NetClose Accrual Modification Template and populate it with the required accrual modification data.
Navigate to Setup > Import/Export > Import CSV Records:
- Set Import Type to Custom Records.
- Select Record Type as NetClose Accrual Modification.
- Upload the prepared CSV file.
- Click Next:
- Under Data Handling, select Add.
- Enable Run Server SuiteScript and Trigger Workflows.
- Click Next:
- Map the CSV columns to the corresponding NetClose fields:
- Click Next and then Run to execute the import.
After the modifications are done importing, if approval is enabled, follow the steps below to complete the approval process:
- Navigate to NetClose > Accruals > Approve Accruals.
- Select the accrual modifications and click Submit to approve:
- The journal entries will post upon approval, and the accrual record will update to display the revised total and modification history.

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