NetClose - Refresh Flux Balances and Real-Time Updates
Overview
While users are working on NetClose Flux Analysis or after they are completed, new transactions may be posted to the general ledger, which could change the NetSuite balances that NetClose Flux Analysis relies on. NetClose handles this in a few ways. Users can enable Real-Time Flux Balances in the NetClose System Setup. NetClose automatically refreshes NetClose Flux Analysis records, and it will notify users when changes have been made after a Flux Analysis is completed.
Real-time Flux Balances
If transactions are frequently created in NetSuite while users are performing Flux Analysis, a company might want to see the most up-to-date or "Real-Time" balances for each Flux Analysis without waiting for the NetClose Flux Refresh Balances script. In this case, enable the Real-Time Flux Balances feature in the NetClose System Setup. When this setting is enabled, the Flux Analysis table will display the most up-to-date GL balances. The Flux Analysis pop-up will show two sets of balances, the Record Balances and the Real-Time Balances, as shown in the image below.
The Record Balance is the current balance stored on the underlying NetSuite Flux Analysis record. This balance is updated by the NetClose Flux Refresh Balances script. The Real-Time Balance is the up-to-date GL balance. The Real-Time Balance changes immediately as any transactions are recorded in the GL. The reason for having two balances is that, depending on the NetSuite account and the number of records updating the balance on each Flux Analysis NetSuite record, it can take significant time. To avoid having to wait, the Real-Time Balance can be used. As shown in the image below, there is a discrepancy between the Current Period Record Balance and the Real-Time Balance. This indicates that GL transactions have been recorded since the last time the NetClose Flux Refresh Balances script ran. Next time that script runs, the Record Balance and Real-Time Balance will align.
How to refresh a Flux Analysis
By default, NetClose will refresh your Flux Analysis records nightly. Additionally, users can kick-off the NetClose Flux Refresh using the process outlined below.
- Go to NetClose > Flux Analysis > Refresh Flux Balances.
- On the Refresh Flux Balances page, use the available filters to locate a specific flux scenario. After selecting the desired scenario, click Submit to refresh the balances for that flux analysis:
Balance Changes
Flux balances may need to be refreshed when new transactions are recorded. NetClose will display a message to a user if balances changed for a flux scenario after they refreshed the balances. Below are examples of messages that may appear for specific accounts with balance changes:
Another way to determine whether balances changed and whether an explanation might need to be updated is to review the Review Flux Analysis page.
If a flux analysis is in the Submitted for Review or Completed and the GL balance of that flux analysis changes, then upon balance refresh NetClose will update the status of the flux analysis back to Not Started, the Assignee and Approver(s) will receive an email notification, and the flux table UI will indicate that the balance has changed with a yellow triangle icon, as shown below. Users can also filter for flux analysis records that had their balance change using the quick filter.