NetCash Credit Card Setup
Overview
NetCash supports both Bank and Credit Card Account reconciliations within NetSuite. In NetCash, Credit Card configuration, matching, and reconciliations generally follow the same processes as Bank Accounts, with a few exceptions. In this article we will walk through the Credit Card setup in NetCash.
Reconciling Credit Card Accounts in NetCash is not included in the base version of NetCash and is available for an additional price.
Step by Step Process
1. Create NetCash Bank Accounts for each credit card
Like Bank Accounts, Credit Card Accounts can have transactions created through available API connections or through CSV imports. If the Credit Card is through an API connection, this article will walk you through the connection process. If using CSV imports, the Credit Card Accounts are manually created the same way you create Bank Accounts in NetCash as outlined here. You will first create a record for the Credit Card Institution and then each individual Credit Card Account. In NetCash, Credit Card and Bank Accounts are both referred to as "NetCash Bank Accounts." NetCash determines if an account is a bank or credit card account based on the GL Account that is mapped to the NetCash Bank Account. If a GL Account with the Account Type Credit Card is mapped to a NetCash Bank Account it will be treated as a Credit Card Account. Similar to Bank Accounts, Credit Card accounts can be created with a Custom Record CSV import.
When creating the Credit Card Accounts, there is an additional field you will want to be aware of. To get to this field when creating a NetCash Bank Account navigate to the bottom section and select the Credit Card Subtab.
2. Add Custom Fields/Segments to Bank Account Record
You can add any additional necessary fields or custom segments that relate to the credit card accounts by navigating to the NetCash Bank Account record view. To get to this view search NetCash Bank Account then click edit on one of the NetCash Bank Account records. By adding these fields on the Bank Account record, you will be able to automatically source specific data from the NetCash Bank Account when the corresponding GL transactions are created in NetSuite.
To add a custom field/segment, hover over "Customize" and select Customize Form.
Select Fields and then New Field.
Input the necessary data for the custom segment and select Save.
3. Source Custom Fields/Segments
Next set up the sourcing for the new field(s). This article will walk you through that process. Specifically fill out the two fields under the section "Bank Account Fields (Optional)" in order to have the field(s) appear on the Credit Card Account record.
Once the sourcing has been setup the new fields should now appear under the "Segments" subtab. It may take a few minutes for them to appear.
4. Create (optional) Child Credit Card Accounts
Credit Card Accounts in NetCash can have Child Accounts. The purpose of having a Parent Credit Card Account and a Child Credit Card account is to allow for Child Accounts to inherit the same segmentation preferences as the Parent Credit Card Account. For example, if a Parent Credit Card Account has its Offset Department preference set to Marketing, then any of its Child Credit Card Accounts would default to the Marketing Department if another Department isn't set on the Child Account.
To set up a Child Account, go to Setup > Bank Accounts. Select the Parent Credit Card account and then select New Credit Card Subaccount. You will then be able to fill out the Child Account as normal.
5. Add Custom Fields/Segments to Bank Transactions
There may be additional fields on your bank transactions that you would like to see in NetCash. For example, you may receive Receipt URLs from your Credit Card Expense Management System that you want included on each Journal Entry created by NetCash for Credit Card transactions. To add a new field, search "NetCash Bank Transaction". Select New NetCash Bank Transaction.
Then hover over "Customize" and select Customize Form.
Go to "Fields" and select New Field.
Fill out the necessary inputs for the new field. Then select Save.
Back on the form, go to "Fields" and move the new field to where you would like it to appear on the Bank Transaction record.
The new field should now appear on the Bank Transaction record and you can now include this data in your CSV import.
6. Create Automation Rules for Credit Card Accounts
This article will walk you through how to create automation rules for your credit card accounts. The creation and logic is the same for both bank accounts and credit card accounts.
7. Create Credit Card template for CSV import
This article will walk you through how to create a custom template for your credit card statements.