NetClose - Close Tasks
Overview
NetClose is designed to facilitate close-specific tasks related to month-end and year-end financial closing. However, it can also be used to manage tasks for any business process or operation. Tasks in NetClose are created as templates and automatically generated each period. To learn how to create tasks for specific periods, refer to our guide on generating the close checklist: Generate Close Checklist.
Step-by-Step Process
Import Option
The standard practice for importing tasks into NetSuite is to create a CSV file listing each task along with its attributes and upload it during implementation. However, individual tasks can also be added as needed. The following steps serve as a guide for manually adding tasks and understanding their specific attributes.
Go to NetClose > Tasks > New Task.
Fill in the necessary details in the following fields:
Task Record Header Information
Primary Information
| Field Name | Description | Example |
|---|---|---|
| Name | Name of the task to be completed. | Identify and Enter Any New Leases |
| Task Reference | Unique task identification number. It is recommended to use a structured numbering system to distinguish task groups. | G-005 |
| Task Type | Choose the appropriate task type from the dropdown list. For close tasks, we recommend selecting Close Activity for consistency. Additional types can be added as needed. | Close Activity |
| Task Classification | Choose the appropriate task category from the dropdown list, typically aligned with overarching balance sheet or income statement categories. Additional classifications can be added as needed. | General |
| Status | The status will automatically be set to Not Started when the task is created and will update as progress is made. | Complete |
| Assignee | Employee assigned to complete the task. | Becca Smith |
| Subsidiary | Assign the task to a specific subsidiary. | ACME U.S.A. |
| Task Frequency | Select how often the task must be completed. | Monthly |
| Link to Activity | If applicable, provide a URL link related to the task, either within NetSuite or an external resource. | Blank |
| Description | Detailed description of the task. | Identify any new leases and enter them into NetLease. |
| Use as Template | Select this checkbox to mark the task as a template. Templates are automatically generated each period and remain unchanged. | ✓ |
Segmentation
| Field Name | Description | Example |
|---|---|---|
| Department | If applicable, choose the department to which the task applies. | Admin |
| Class | If applicable, choose the class to which the task applies. | Internal |
| Location | If applicable, choose the location to which the task applies. | Lehi |
Timing Information
| Field Name | Description | Example |
|---|---|---|
| Accounting Period | Specify the accounting period for which the task is performed. If the task record is being used as a template, this field will be greyed out, as it will be automatically populated when tasks are generated for a given period. | FY 2025 : Q1 2025 : Mar 2025 |
| Start Date | Specify the task's start date. If the task record is used as a template, this field will be greyed out, as it will be automatically populated when tasks are generated and initiated for a given period. | 3/1/2025 |
| Due Date | Specify the task's due date. If the task record is used as a template, this field will be greyed out, as it will be automatically populated when tasks are generated for a given period. | 3/4/2025 |
| Reviewer Due Date | Specify the review due date. If the task record is used as a template, this field will be greyed out, as it will be automatically populated when tasks are generated for a given period. | 3/7/2025 |
| Duration Estimate (Hours) | The estimated time required to complete the task (in hours). | 2 |
Tracking Information
| Field Name | Description | Example |
|---|---|---|
| Risk Level | The potential risk level of completing the task incorrectly. | Low |
| Importance | The priority level of completing the task. | Medium |
Additional Fields
| Field Name | Description | Example |
|---|---|---|
| Reviewer Due Date (From Due Date) | This field determines the reviewer due date based on the task due date. It requires a positive number and will be greyed out if the task is not set as a template. The reviewer due date is calculated by adding the specified number of days to the task due date. For example:
| 5 |
| Holiday Preference | If the task frequency is set to weekly, this field is required to determine the due date based on the NetClose Calendar. This field will be greyed out if the task is not set as a template. | Next Available Work Day |
| Auto Generation Day | This field specifies the day of the month when NetClose should automatically generate the task. Enter a number representing the desired date. For example, entering 28 instructs NetClose to generate the task on the 28th day of the period based on its set frequency. If the frequency is monthly, the task will be auto-generated on the 28th of each month. This field will be greyed out if the task is not set as a template. | 28 |
| Auto Generation Preferred Period | The Auto Generation Preferred Period determines which period a task is associated with when automatically generated. Options include Current Period and Next Period:
For example, if a task with a monthly frequency and an auto-generation date of the 28th is generated in February:
NetClose calculates due dates relative to the first day after the assigned close period. A task tagged to February has a due date relative to March 1st, while a task tagged to March has a due date relative to April 1st. This field is greyed out if the task is not set as a template. | Current Period |
| Weekday Due | If the task frequency is set to weekly, this field is required to specify the day of the week the task is due. This field will be greyed out if the task is not set as a template. | Thursday |
| Accounting Book | If applicable, select the accounting book to which this task applies. | Primary Accounting Book |
Subtab Information
Below the primary task information, you'll find a group of subtabs where you can save additional details related to your tasks. These subtabs allow you to store information on close timing, reviewers, and more. The next section of this article explores each of these subtabs in detail.
Task Timing Subtab
Each task is assigned a close timing to determine when it should be due or completed in relation to the last day of the period. While the last day of the period is typically the last day of the month, the system references work calendars to adjust the close date for weekends and holidays. For more details, see our guide on setting up work calendars.
To set the task due date timing, navigate to the Task Timing subtab. There are two types of close timing options: Business Day and Absolute. Your task’s due date can be based on either business days or a fixed (absolute) date.
Example:
- If a task is due 3 business days after close and the close date falls on a Wednesday, the task will be due on the following Monday, since weekends are considered non-working days.
- If a task has an absolute due date of 3 days after close, and the close date is a Wednesday, the task will be due on Saturday, as absolute due dates do not adjust for weekends or holidays.
| Field Name | Description | Example |
|---|---|---|
| Close Grouping | Select Pre-Close, Close, or Post-Close based on when the task should be completed in relation to the close date. | Pre-Close |
| Close Timing (Business Day) | Enter the number of business days before (negative) or after (positive) the close date by which the task should be completed. This field is greyed out if the task is not set as a template. | -3 |
| Absolute Due Date | Enter the number of absolute days before (negative) or after (positive) the close date by which the task should be completed. This field is greyed out if the task is not set as a template. | -2 |
Steps Subtab
Steps, also known as accounting procedures, can be linked to close tasks to provide detailed guidance for task assignees. When a task involves multiple steps, it is recommended to create steps or accounting procedures and then link them to the task. These steps appear within the task as a structured "to-do" list.
- A group of steps can be linked to multiple tasks.
- However, each task can only have one group of steps assigned.
If tasks are created before accounting procedures, these fields can be left blank initially and updated later.
Importing Steps into Tasks
- Navigate to Setup > Import/Export > Import CSV Records.
- Select Import Type: Custom Record and Record Type: NetClose Task.
- Perform an update import with a list of the tasks and their corresponding accounting procedures.
Manual Selection
In the Steps subtab, select the appropriate accounting procedure from the dropdown or enter a URL link, if applicable.
| Field Name | Description | Example |
|---|---|---|
| Accounting Procedure Link | Enter a link (NetSuite internal or external) to the location where the Standard Operating Procedures are documented. | www.netgain.tech |
| NetClose Accounting Procedure | Select the relevant NetClose Accounting Procedure from the dropdown to link to the standard operating procedures that provide a detailed explanation of this task. This field will be greyed out if the task is not set as a template. | Add NetClose User |
Review Subtab
If a task requires review before completion, navigate to the Review subtab and select an employee(s) from the dropdown to assign them as the reviewer. For detailed instructions on reviewing tasks, refer to this article.
- Multiple employees can be assigned as reviewers.
- However, a task only needs to be reviewed once, regardless of the number of assigned reviewers.
| Field Name | Description | Example |
|---|---|---|
| Reviewer | Select the reviewer(s) assigned to this task. | Morgan Hunsaker |
| Reviewer Due Date (Relative) | Enter a positive or negative number to determine the number of days counted from the end of the period:
If a NetClose calendar is set up, this calculation will adjust for non-working days and weekends. This field will be greyed out if the task is not set as a template. | 5 |
| Reviewer Due Date (Absolute) | Enter a positive or negative number to determine the number of days counted from the end of the period:
This calculation is absolute and does not adjust for the NetClose calendar. This field will be greyed out if the task is not set as a template. | 3 |
More on Reviewer Due Dates
In NetClose, tasks can have both a Due Date and a Reviewer Due Date. The Reviewer Due Date allows for a separate deadline—one for when the assignee should complete and submit the task and another for when the reviewer should finalize their review. Neither field is required, giving companies the flexibility to use the Due Date, Reviewer Due Date, both, or neither based on their workflow preferences.
The walkthrough below explains how Reviewer Due Dates work in more detail.
Click here to watch this walkthrough in full screen.
There are three ways to set the Reviewer Due Date in NetClose:
Absolute – Found under the Review subtab, this option sets the due date to a specific day of the month, regardless of weekends or holidays. For example, if "5" is entered, the Reviewer Due Date will always be the 5th, even if it falls on a non-working day.
Relative – Also located under the Review subtab, this option accounts for weekends and holidays, skipping them when determining the due date.
From Due Date – Found in the task record's header, this option sets the Reviewer Due Date based on a specified number of days after the Due Date. For example, if a task has a Due Date of the 5th and a From Due Date value of 3, the Reviewer Due Date will be the 8th. This method follows absolute counting, meaning the due date may fall on non-working days.
Dependency Subtab
If a task depends on another task, navigate to the Dependency subtab to add the required dependency. For detailed instructions on setting up dependencies, refer to this article.
Adding dependencies helps improve structure and organization within the close process.
| Field Name | Description | Example |
|---|---|---|
| Dependency Description | Add a description related to any dependencies. | This task cannot be started until the bank reconciliation task is completed and approved. |
| Dependency Notes | Add notes related to any dependencies. | Ensure that all transactions are recorded before proceeding. |
Related Records Subtab
In the Related Records subtab, a parent task can be linked to the current task. Once linked, the parent task will appear as a hyperlink within this subtab. While not required, this can be useful for tracking parent-child relationships between tasks.
Note: This is not where task dependencies should be linked. Dependencies should be managed under the Dependency subtab.
| Field Name | Description | Example |
|---|---|---|
| Parent Task | Select the task to be designated as the parent task. | Review Reconciliations |
Files Subtab
Use the Files subtab to attach a file to a task record. You can either upload a new file or attach an existing one. The file will be accessible from the task record but will not appear on the task sheet or task board. However, the task record can be easily accessed from the task sheet.
Comments Subtab
The Comments subtab is only visible in View mode and will not appear when editing a task.
This subtab provides a space to leave comments related to the task as it is worked on or completed. All NetClose users with access can view and respond to these comments, facilitating collaboration and communication.
Notifications Subtab
The Notifications subtab allows customization of email notifications for a specific task. To adjust notifications for actions such as assignee changes or task completion, check or uncheck the corresponding boxes.
For more details on these four controls, refer to the Standard Task Email Notifications article. For additional customization options, see the Custom Task Email Notifications article.
| Field Name | Description | Example |
|---|---|---|
| Ignore Assignee Change | If checked, you will not receive a notification when the task assignee is changed. | ✓ |
| Ignore Notify Reviewer Upon Submission for Review | If checked, the reviewer will not receive a notification when the task is submitted for review. | ✓ |
| Ignore Notify Assignee Upon "Send Back for Edits" | If checked, the assignee will not receive a notification when the task is sent back for edits. | ✓ |
| Ignore Notify Assignee Upon Completion of Dependent Task | If checked, the assignee will not receive a notification when a dependent task is completed. | ✓ |
| Ignore Due Date Reminder | If checked, the assignee will not receive a due date reminder. | ✓ |
| Days Before Due Date | Specifies the number of days before the due date when the reminder email will be sent. | 2 |
Sent Emails Subtab
The Sent Emails subtab is only visible in View mode of a task record, and if an email has been sent related to the task. It will not appear in Edit mode or if no emails have been sent.
This subtab displays a list of all emails associated with the task. To adjust email notifications, modify your standard email notifications or set up custom email notifications.
Please note that tasks with a weekly frequency operate differently than tasks with other frequencies. This knowledge base article provides insights into the nuances of working with weekly tasks: