NetClose - Budget to Actual Flux Analysis
Overview
NetClose allows users to perform flux analysis with their NetSuite budgets. The below walkthrough and step by step process will guide you through the process of creating a budget-to-actual flux analysis in NetClose using native NetSuite budgets.
Click here to see the walkthrough in full-screen.
Step by Step Process
- When generating a flux scenario, select the desired NetSuite budget to analyze from the Comparison Budget Category field:
- Each budget category in NetSuite contains distinct values, so selecting a specific budget category will determine the amounts included in the flux analysis.
NetSuite budgets are unique based on several criteria—including Subsidiary, Period, Budget Category, and Segment. By selecting these criteria on the Generate Flux Scenario page, users define the specific budget values that NetClose will use for comparison.
It's also important to note that budgets in NetSuite can be associated with a department, class, or location. Users can further refine their comparison by selecting an additional segment in the "Additional Segment Type" field, with each segment containing its own distinct budget values.
If no additional segment type is selected, the analysis will still reference specific NetSuite budgets. By default, budgets without a segment are treated as separate from those that include a segment.
- Once all desired criteria are selected, select Submit for the flux scenario to generate
- Once it has been generated, review the flux analysis by navigating to NetClose > Flux Analysis > Review Flux Analysis.
Please note that NetClose will only include accounts in the flux analysis that have a budgeted amount value.
Additionally, the budget amount will vary depending on the unique combination of segments. For example, the budget amount will differ when using a class, department, or no segment at all, even if the date and subsidiary are the same.
- All flux scenarios can be viewed in the "Scenario" filter. When compared to a budget, each flux scenario is named based on the budget category, period, subsidiary, and any additional segments selected for the analysis (e.g., Test Category 1 | Feb 2024 | Accounts Only | All Accounts | Class).
Limitations
- Please note that a budget flux analysis cannot be created for a consolidated subsidiary. This is because when creating a NetSuite budget, selecting the parent subsidiary sets the budget amount for that individual subsidiary, independent of its child subsidiaries. Due to this limitation, a flux analysis with a budget must be created at the individual subsidiary level.