Shared Transactions System Setup

Overview

This article outlines the process for enabling specific features during the initial system setup for Shared Transactions.

Step by Step Process:

Navigate to Netgain > Setup > System Setup:
The Shared Transactions Settings tab is organized into six main sections, as outlined below:

System Features

Use Custom Transactions: Enabling this field ensures non-intercompany allocations use a custom transaction, reducing the likelihood of errors from system-generated entries. This is important because other scripts, forms, and workflows often interact with the native 'Journal' transaction type, which may not account for shared transaction functionality. It is generally recommended to enable this field.
1:1 Line Allocations: Allows 100% of the transaction to be allocated directly to the designated segment—primarily for intercompany transactions—on the transaction line to the relevant subsidiary (or department, class, etc.).
Multi Book Allocations: Enables the ability to allocate in multi-book. This setting will only be visible if the NetSuite environment has Full Multi-Book Enabled.

Preferences

Display Subsidiaries Without Hierarchy: Enables the system to display subsidiaries without listing their hierarchy. This setting will only be visible if the NetSuite environment allows for multiple subsidiaries.
Auto Approve Journals: Automatically approves journals upon creation.
Delete Original Allocation When Updating: When adjustments are made to the allocation on the source transaction journal, this option deletes the original shared transaction journal and creates a new one with the updated allocation.
Submit Posting Period: Allows the allocation script to update the related journal entry with the posting period from the source transaction once the journal is created.
Do Not Delete Allocation Entry When Source Is Deleted: Ensures that related allocation lines and journal entries remain intact even if the source transaction is deleted.
Do Not Create Allocation Reporting Records: Prevents Shared Transactions from creating a separate Allocation Reporting Record for each Shared Transaction Allocation. These records are found under the Shared Transactions Subtab under Allocations. This setting causes transactions with Shared Transaction Allocations to save faster.
Map Reduce Allocation Script Threshold: This setting dictates when the Shared Transaction Allocation Script will use a Map Reduce script to perform the transaction allocation rather than a User Event script. A User Event script will perform the allocation faster, but eventually will time out because of NetSuite limitations. A Map Reduce script will not run into the same timeout limitations and can handle higher volume, but is a slower process.

Transaction Configuration

Deployed to Transactions: Use this multi-select field to determine which transactions can be allocated using the Shared Transaction module. Shared transactions are only applicable to bills in the Free and Standard versions. If using a Premium license, select which transactions you want Shared Transactions to be able to allocate.
Soft Error on Allocation: Use this feature if you want errors as a result of Shared Transactions Allocations to be treated as a "Soft Error" rather than a "Hard Error." A Hard Error stops the current process as soon as the error occurs. Meaning that if, after a Shared Transaction Allocation was supposed to be created, the Source Transaction should have been added to a NetLease or NetClose Amortizations Schedule Line, then that will not happen because of the error. On the other hand, a Soft Error reports that an error occurred during the Shared Transaction Allocation process, but continues the next steps of the larger process. For example, if there was an error with the Allocation, that would not prevent the Source Transaction from being added to a NetLease or NetClose Amortization Schedule Line. Instead, the allocation error would be noted in the Script Execution Logs and on the Custom Subtab of the Source Transaction.
Delete on Allocation Error Transactions: Use this feature to select certain Transaction Types that you want the Source Transaction to be automatically deleted if the Shared Transaction Allocation process results in an error. For example, suppose this setting was on for NetClose Amortization Entries. When processing journal entries on a NetClose Amortization that had a Shared Transaction Template on it, any Allocation Error would result in the Source NetClose Amortization Entry being deleted when the Allocation has an error. This would prevent any NetClose Amortization Entry from being added to a NetClose Amortization Schedule Line if the intention was for that Amortization Entry to be allocated using Shared Transactions.

Default Intercompany Accounts

Receivables Account: Select the account used to record intercompany receivables. If the "ELIMINATE INTERCOMPANY TRANSACTIONS" option is enabled, intercompany vendors and customers are required. This is only used for NetSuite environments with multiple subsidiaries.
Payables Account: Select the account used to record intercompany payables. As with receivables, enabling "ELIMINATE INTERCOMPANY TRANSACTIONS" will require intercompany vendors and customers. This is only used for NetSuite envrionments with multiple subsidiaries.

Note: Shared Transactions only supports a single intercompany payable and receivable account due to limitations within NetSuite. If multiple intercompany accounts are in use, they must be consolidated or a clearing account must be created to bypass this restriction. Any account can be selected for intercompany payable/receivable.

Intercompany Billing Preferences

The intercompany billing fields are only available when the Vendor Bill Automation Add-on is purchased.

Intercompany Vendor Bill Prefix: Set the prefix for the advanced intercompany billing bill record name. If no prefix is specified, the default is "IC-".
Intercompany Vendor Bill Suffix: Set the suffix for the advanced intercompany billing bill record name.
Intercompany Vendor Bill Credit Prefix: Set the prefix for the advanced intercompany billing bill credit record name. The default is "IC-BC" if no prefix is specified.
Intercompany Vendor Bill Credit Suffix: Set the suffix for the advanced intercompany billing bill credit record name.

Sourcing

This section lists the Shared Transaction Sourcing records created during the app installation. A direct link to each sourcing record is available, and they can be inactivated if not needed (e.g., if the native NetSuite "Class" segment is not in use). For more information, refer to the Shared Transaction Sourcing documentation. Sourcing for native segments will only show up for the segments that are enabled in the NetSuite environment.

The General License and Shared Transactions License tabs display the current product tier and the features available within that tier. If the account is not already on the premium tier, an upgrade button will be available at the top of the page to initiate the upgrade process:

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