NetClose Release Notes 11/21/24

NetClose VERSION 2024.2.8 and Netgain Tools Shared Transactions 2024.2.26

Microsoft OneDrive integration reconciliation updates 

• Performance enhancement: NetClose will now find items inside of files stored in a OneDrive or SharePoint much quicker than previous versions. 
• Updated setup process: Each NetClose Account grouping now has two new fields: Folder Dimension 1 and Folder Dimension 2. Users should use these fields to specify how they would like their folder structure to be set for each NetClose account grouping in their Microsoft File Management. For NetClose reconciliation files inside of OneDrive/SharePoint NetClose will still create a Netgain Tools folder and a NetClose Reconciliations folder. Inside of the NetClose Reconciliations folder the next layer will be the period associated with each reconciliation. Following the period folder layer, the next folder layer will be Folder Dimension 1, and if the user desires they can have a subsequent layer using Folder Dimension 2.  
• Important notes: Excel files with NetClose item tags for reconciling items must be placed in the corresponding folder for each account grouping. A NetClose item tag placed in an incorrect folder will not be found by NetClose. Users should not change folder names within a period, if a folder name is changed, then NetClose will not find the items in that folder. If a user wishes to change their folder names or structure, then they must do that using the Folder Dimension 1 and Folder Dimension 2 fields on each NetClose account grouping. Once changed, the folder structure that is generated for the subsequent period will follow the updated structure.  
• Syncing files: Users can now select individual reconciliations to sync to search for any new items added to excel files rather than having to sync files for all reconciliations at once. The sync files button is now user dependent so that multiple users clicking sync file at the same time will not cause errors.  

Reconciliations UX/UI Updates 

Mass update feature: 

• The reconciliations mass update feature can now be used to update the status of a reconciliation and the assignee of a reconciliation. 

Filters: 

• The filters on the reconciliation pages have been updated to multi-select filters. 
• A global search filter has been added for users to search through any visible information inside the table. 

In-line actions: 

• Buttons were added inside each line of the reconciliations table inside the Prepare/Review/All reconciliations pages so that preparers and approvers can move individual reconciliations through the preparation and approval process directly from the table.  
• If a comment is left on a reconciliation a comment icon will now appear that can be clicked to open the comment dialogue window.  

Column updates: 

• Columns inside the reconciliation table are now sortable and can be moved to other positions within the table.  

Amortization Updates 

Multi-book Amortizations: 

• For users that utilize NetSuite’s multi-book functionality, users can now set which book they would like a NetClose Amortization to post to. This can be set at the Amortization Type level or using the Accounting Book Override field on each individual NetClose Amortization. 

Tasks Updates  

Task Board 

• Completed tasks on the task board will now stay in the completed section for any given period when that period is selected if the Global Setting “Days to Show Completed Tasks on Board” is empty.   

Flux Updates  

Flux functionality/organization enhancements: 

• New Flux Account Group record: Added a new Flux Account Group record to organize account for flux analysis by groups. Each account will now have a field called “Flux Account Group” to assign each account to a flux group which will be used for grouping purposes when generating flux scenarios. 
• Flux analysis by Flux Account Group: Users can now create flux scenarios based on account groupings, accounts individually, or both account groups and accounts. 
• Using the “Flux Grouping” field on the generate flux scenario page, users can now select “Accounts and Groups,” “Groups Only,” or “Accounts Only” 
• “Groups Only” will result in flux items being generated only for each Flux Account Group with no individual accounts. 
• “Accounts Only” will result in flux items being generated for each individual account. 
• “Accounts and Groups” will result in flux items being generated for each account, but the accounts will all be organized as children of the overall parent Flux Account Groups and each parent Flux Account Group will also have a flux item generated.  
• Flux analysis by segments: Users can now create flux scenarios based on segments including department, class, location, or custom segments.  
• When creating a flux scenario by segment users can indicate what segment type to choose using the “Additional Segment Type” field.  
• Once an additional segment type is selected, two new fields “Segments” and “Consolidate by Segment” will appear.  
• The “Segments” field allows users to select one or multiple segments that they would like the flux scenario to be performed on. If no segment is selected, then the flux scenario will be performed on all segments. 
• If enabled “Consolidate by Segment” field will result in a flux scenario with each combination of group and account being created for all the segments together as a group. If it is not enabled, then a flux item will be created for each combination of group and account for each segment individually. 

Review Flux Table Changes: 

• Columns can now be resized by dragging the “|” in the table header. 
• If a flux explanation is required for an account, it is now indicated by a blue stoplight icon next to the flux item name that requires explanation rather than a checkmark in its own column. 
• If a user selects an additional segment, then an additional segment column indicating each flux items segment will be added to the table.