Shared Transactions Allocating to NetSuite Projects
Overview
NetSuite Projects are entities. A project occupies the same record slot as a customer or a vendor, and each project belongs to a single subsidiary. That makes projects awkward to allocate across subsidiaries with native tools. Shared Transactions works around it: you can allocate a source transaction to one or more projects, in the same subsidiary or across subsidiaries, and get a balanced allocation journal entry.
There are two ways to do it:
- Custom column - carry the project in a custom transaction column. This keeps the original entity (for example, the vendor) on the allocation lines.
- Entity column - allocate on the native entity column. This replaces the original entity with the project entity.
The difference between them is what happens to the entity, which changes how the allocation shows up in entity-based reporting. Both are covered below.
Test in a sandbox first. Because projects share the entity slot and are tied to a single subsidiary, behavior varies by account configuration. Always set up and test either method in a sandbox account before using it in production, so you can confirm it works for your situation.
Video walkthrough
Before You Start
- A project in NetSuite lives in exactly one subsidiary. To allocate the same expense across subsidiaries, you need a separate project for each subsidiary.
- Because each project belongs to a single subsidiary, your Shared Transactions allocation template also sets the subsidiary that goes with each project.
Method 1: Allocate to a Project Using a Custom Column
Use this method when you want to keep the original entity on the allocation.
- Set up a sourcing record for your custom column.
- Allocation Field ID points to the custom field you created.
- Transaction Line Copy Column is the project field on the transaction line.
- Copy Column Field Type is List/Record.
- Source from Allocation Line is checked.
2. On the transaction, populate the custom column field.
In this example, the bill carries a custom column field - Morgan Project Field - that holds the project. The bill is on the Honeycomb Mfg. subsidiary and starts in the 3M : Mfg Project.
3. Apply a Shared Transaction template to the transaction.
In this example, the template is set up to split the original transaction evenly between the Holdings project and the EMEA project, and to set the subsidiary that goes with each project.
4. Save the transaction.
When you save, Shared Transactions creates the allocation journal entry. It reverses the original expense and re-posts it into the Holdings and EMEA projects using the custom field.
The key point: this method preserves the original entity. Because the project is carried in a custom column rather than the entity column, the allocation will not carry through to reports that rely on the entity field (shown as Name on a journal entry).
Method 2: Allocate to a Project Using the Entity Column
Use this method when you want the project itself to be the entity on the allocation - for example, so it flows into entity-based reporting. This method replaces the original entity with the project entity.
No custom sourcing record needed for the entity method
Unlike the custom-column method, the entity-column method does not require you to build a custom sourcing record and fields. Shared Transactions ships an entity sourcing record by default.
Turn on "Ignore Original Transaction Line Value"
If using the entity allocation method, you'll need to turn on a setting on the entity sourcing record. Navigate to Netgain > Setup > Shared Transaction Sourcing and select Edit on the "entity" sourcing record. Under Advanced Configuration, check this checkbox and save.
The Shared Transactions allocation template for this method uses the entity column instead of a custom column. Each line sets the project as the entity and the source subsidiary that goes with it - in this example, the EMEA project with the EMEA subsidiary, and the Holdings project with the Holdings subsidiary.
Apply the template to the bill and save.
The allocation journal entry takes the original $2,000 from the Amazon entity and posts it to the Holdings project entity and the EMEA project entity. The project entity replaces the original entity on the allocation lines.
