NetClose Release Notes 6/9/26

NetClose Versions 2026.1.20-2026.1.51 Key Updates

Highlights

• Auto-create Amortizations from transactions - a new global setting generates an Amortization and schedule automatically when a transaction line is approved with an Amortization Type populated, sourcing dates, entity, subsidiary, segments, custom fields, and shared transaction templates from the source line. See Auto-Create Amortizations from Transactions.
• NetClose MCP tools - read and action capabilities for NetClose are now exposed through the NetSuite MCP server, enabling AI-driven close workflows in Claude and other LLM's. See AI Integration with LLMs via MCP.
• New dashboards - Close Progress, My Work, and Close Trends. These dashboards give detailed, real-time insight into the close.
• New access controls - restrict Reconciliations and Tasks to specific users with Authorized Viewers, and limit visibility by role-assigned subsidiaries.
• Redesigned Reconciliation Account Grouping pages - purpose-built UI replacing native NetSuite forms. 
• NetCash reconciliations in NetClose - bank and credit-card reconciliations completed in NetCash now flow into NetClose as a reconciliation source, reconciling those accounts automatically once the GL balance is covered. Requires NetCash. See the Auto-Reconciling Bank and Credit Card Accounts Using NetCash.
• Reconciliation document management updates - Folder permissions copy from the prior period when new period folders are created (Google Drive and Microsoft). Period folder names can also switch to a numeric format (e.g. 2026.01) for easier lookup. See Using Document Management.

Accruals Updates

New Features

• Custom segments entered on vendor bill and bill credit lines now carry over to the resulting Accrual Journal Entry lines, matching the line-level sourcing already available in Amortizations. 

Enhanced

• Auto-reverse script now updates the accrual balance and status when a user tags an accrual to a bill manually or uses NetSuite-native JE reversal - previously the link was made but the accrual stayed Open with a stale balance.
• Subsidiary is no longer required on Create from Transaction or automation pages in non-OneWorld accounts.
• Accruals with an auto-reversal date now generate the corresponding journal entry instead of being auto-approved without one.
• Setting an accrual's auto-reversal date to today or an earlier date now runs the reversal entry immediately instead of waiting for the scheduled run. 

Amortizations Updates

New Features

• New global setting Automatically Generate Amortizations creates and schedules amortizations whenever an approved transaction line has a NetClose Amortization Type populated, sourcing dates, entity, subsidiary, segments, custom fields, and more from the source line. Off by default. See Auto-Create Amortizations from Transactions.
• Balance-sheet, income-statement, and clearing accounts defined on an Amortization Type flow automatically onto new amortizations; if the Type has no default account set for one of those, the transaction line's account is used instead. See Amortization Types.
• New Amount filter on Create from Transaction lets users exclude bills under a capitalization threshold or capitalize only bills above it, speeding up setup for customers with capitalization policies. 
• New Account Type filter on Create from Transaction lets users select all accounts of a given type (e.g. all expense accounts) in one click.
• Amortization Waterfall and Roll-Forward reports now support filtering by Amortization Type, with refined Expand/Collapse All behavior for large amortization sets. See Amortization Reports.
• Default journal entry memo now combines Amortization Alt Name and Name instead of showing only the Amortization ID, making posted journals easier to read and audit.
• Time Machine can now untag linked journal entries when reversing or unwinding amortization activity, rather than deleting them. See Amortization Time Machine.

Flux Analysis Updates

New Features

• New global setting Do not generate for accounts without groups - on by default for new accounts, off for existing. When on, flux records are no longer created for ungrouped accounts; when off, those records are generated as orphaned. See the Flux Analysis Dimensions.
• Reviewers can edit Flux Explanation fields while a record is Submitted for Review; Preparers cannot.

Enhanced

• AI explanation system prompt updated for sharper, more useful narratives.
• Transaction Detail page now supports selecting inactive accounts in the account filter, and direct links to Transaction Detail are available from the NetClose Reports list and center tab.
• When the NetClose Consolidate Flux checkbox is off, summary account records are no longer generated.
• Accounts not assigned to a flux group are excluded from the analysis - keeping output focused on accounts in use.

Reconciliations Updates

New Features

• NetCash bank and credit-card reconciliations are now a reconciliation source in NetClose. For bank and credit-card accounts in a Reconciliation Rule's account grouping, NetClose pulls the matching completed NetCash period-end reconciliation and reconciles the account automatically once the rule's full GL balance is covered. See Auto-Reconciling Bank and Credit Card Accounts Using NetCash.
• New Use Only Selected Book toggle on account grouping rules generates reconciliations only for the selected accounting book, skipping primary/secondary balance comparison. Ideal for customers whose secondary book is their primary reporting book. Toggle is also available on the new-UI account grouping page. See Non-Primary Book Reconciliations.
• Document Management folder permissions copy from the prior period when new period recon folders are created (Google Drive and Microsoft), so per-month re-permissioning is no longer required. See Using Document Management.
• New period folders can be named using a numeric format (e.g. 2026.01 instead of Jan 2026) for easier lookup. See Using Document Management.
• Redesigned Account Grouping experience with new User Interface replacing Native NetSuite forms.

Access Control (Cross-Module)

New Features

• New Authorized Viewers field on Reconciliations and Tasks restricts record visibility to listed users only. Left blank, normal visibility applies - no disruption to existing workflows. See Authorized Viewers for Tasks and Reconciliations.
• Authorized Viewers set on a Reconciliation Rule carry forward automatically to the Reconciliations it generates, so access can be configured once at the source.
• New global setting "Enable Role Based Subsidiary Restriction" limits what records users see across Reconciliation, Task, Flux Analysis, and Transaction pages based on subsidiaries assigned to their role. Off by default. OneWorld accounts only. See Role-Based Subsidiary Restrictions.

AI and Platform

New Features

• NetClose MCP tools registered in the customer's NetSuite MCP server expose read and action capabilities across Accruals, Amortizations, Close Control, Flux Analysis, Reconciliations, and Tasks - including running ad-hoc flux analyses, reading and updating recon items, posting comments, changing statuses, and mass-updating tasks. Foundation for AI-driven close workflows in Claude and other MCP clients. See AI Integration with LLMs via MCP.

Enhanced

• New global setting disables balance-changed notifications for Flux Analysis and Reconciliations for teams that don't want them.

New Dashboards

Three new dashboards for controllers and close owners, available to every role with no special permission required.

• Close Progress - live view of the active close: overall completion, a status breakdown (complete, in review, in progress, late), a predicted close date measured against a configurable Target Close Day, a module-by-module pace chart for Tasks/Reconciliations/Flux, and actionable insights like items due today, items waiting on a reviewer, and blocked dependencies. See the Close Progress Dashboard article.
• My Work - a personal dashboard summarizing what's assigned to the logged-in user, including tasks needing review, recently completed items, items sent back for rework, and a calendar view. See the My Work Dashboard article.
• Close Trends - a historical view across periods tracking days to close, on-time rate, and late-item frequency, with configurable time ranges (6 months, 12 months, or year-to-date) and a period comparison table. See the Close Trends Dashboard article.

Additional Notes

• New SQL Reports application lets teams build and view reports from configurable SQL queries, with sorting, column filtering, pagination, and numeric summary totals. Uses infinite scrolling and server-side paging for high-volume result sets. 
• Refreshed UI across the NetClose application.
• Admin heads-up: enabling "Role Based Subsidiary Restriction" will immediately change what users can see based on their role's subsidiary assignments. Review role setup before toggling on. Off by default. See Role-Based Subsidiary Restrictions.

For questions or support regarding this release, please contact the NetClose support team.