NetClose - Creating Accrual Types
Step by Step
Before creating an accrual or uploading a CSV of accruals, you will need to make sure each accrual type is created in NetClose. To access this list or to add to the list, navigate to NetClose > Setup > Accrual Types.
On the NetClose AccrualType List, you can edit current accrual types or add a new NetClose accrual type.
New Accrual Type
- Click "New NetClose AccrualType" in the upper left.
- Fill out the name, accrual account, and expense account in the primary information section.
- Click "Save".
| Name | Description | Example |
|---|---|---|
| Name | Name of Accrual Type to be completed. | Legal Fees |
| Accrual Account | The Accrual Account is the account that is specified where you will book the accrual for expenses that have yet to occur | 2365 Other Accrued Expenses: Accrued Expenses |
| Expense Account | The Expense Account is the account that is specified where the accrual will get reversed in the following period | 6750 Operating Expenses: Professional Fees |