NetClose - Matching Accruals
Overview
Accruals need to be reversed after the corresponding transaction is entered into NetSuite. This process requires the transaction to be matched to the accrual, followed by an adjustment to complete the reversal.
This article outlines the standard procedure for matching transactions to accruals. Note, however, that the Match page may also be used to automatically match and adjust a transaction to an accrual in a single step, bypassing the need for a separate adjustment via the Adjust Accrual page. For further details, refer to this article.
Prerequisites
- The accrual must be created in the system prior to matching.
- The corresponding transaction must be entered to enable the match to the accrual.
Step-by-Step Process
An accrual can be linked to a transaction at the time of creation or matched afterward using the Match page.
Option 1: Tag Accrual During Transaction Creation
- To associate an accrual when creating a transaction, select the appropriate accrual record from the NetClose Accrual drop-down field:
- This links the transaction to the accrual and ensures it appears on the adjustment page.
Option 2: Match Transaction After Creation
To match a transaction after it has been created:
- Navigate to NetClose > Accruals > Match Accruals.
- The reconciliation page will display all open accruals and unmatched transactions in NetSuite. Filters can be applied to locate the relevant transaction.
- Select the appropriate accrual and the corresponding transaction(s):
- Click Match.
This process links the accrual to the transaction line item and removes the transaction from the list of unmatched transactions.