NetClose - Setup Flux Accounts
Overview:
As part of the initial setup, a user must decide which accounts will have a flux analysis. If not, NetClose will default to run a flux analysis for all accounts in the chart of accounts.
Step By Step Process:
Navigate to NetClose > Setup > Enable Flux Analysis Accounts
This will navigate to the NetClose | Setup Flux Accounts page
This page will show a listing of the entire chart of accounts in NetSuite. The listing will mirror how the chart of accounts is setup by using parent and subaccounts. There is an also an option to filter the accounts by Summary and Account.
To learn more about the "Flux Group" column, please refer to this article.
If an account does not have an assigned "Flux Group", the system will not generate a flux analysis for that account.
The "Include Subaccount Activity" box allows the user to generate a single flux that includes the parent and subaccounts. To do this select the "Include Subaccount Activity" box next to the parent account.
On the "Generate Flux Scenario" page, default thresholds will be created for all accounts when running a flux analysis. However, on this page the "Override Amount Threshold" and "Override Percent Threshold" allows a user to override any default thresholds and create a specific threshold for certain accounts. Thresholds will trigger NetClose to require an explanation on any flux analysis that shows a change between two comparison periods that is larger than the threshold.