NetClose - Review the Flux Analysis

Overview

Once a flux analysis has been generated, it is ready for review.

This article will guide you through the process of reviewing the flux analysis, highlighting its key features and how to interpret them effectively.

Step by Step Process

  • Navigate to NetClose > Flux Analysis > Review Flux Analysis.
  • On the "Review Flux Analysis" page, select the desired Flux Scenario
  • There are several filters available to help users navigate to specific accounts, update the filters as desired 
    • One key filter to highlight is the "Quick Filter." Within this filter, users can select the "Explanation Needed" option, which will narrow down the results to only those accounts that require an explanation due to exceeding one of the predefined thresholds:
  • Explanations can be added as needed by accessing the Flux Analysis pop-up record. Simply click on the account to open the detailed flux information for that specific account: 
  • The primary account details, comparison data, and explanation will be available within this record. To enter the required explanation, scroll down to the "Explanations" section. In the "Primary Explanation" text box, input the necessary explanation. If additional context is needed, extra text boxes are provided for alternate explanations: 
  • If you have Flux Analysis AI enabled, the user will also find an AI generated explanation under the "Explanations" section and a box to add additional AI context:
  • This pop-up record includes the same information as the flux record, along with additional subtabs for more detailed views—several of which are outlined below:
    • The "Large Transactions" subtab displays transactions that meet the Large Transaction Threshold. These transactions can help identify the primary cause of the change and assist in completing the explanation:
    • The "Transaction Counts" subtab displays the total number of debit and credit lines associated with the account for each period. It also includes a chart that breaks down the transaction count by transaction type for each period:
    • The "Previous Flux Analysis" subtab shows prior flux analysis records for the GL account with the same primary information combination. Users can access these records by clicking on the record name:
    • The "Scenario" subtab displays all the thresholds applied in this flux analysis:
    • The "Documents" subtab allows users to drag and drop files to attach them to the specific Flux Analysis record as support for any explanation they make. Previously attached files can be viewed from this subtab. 
  • Current and Comparison Period Balances
    • By default, the amounts shown in the current and comparison period are the amounts stored on the Flux Analysis Record. These amounts are refreshed nightly and can be manually refreshed from the Refresh Flux Balance Page. Depending on the number of SuiteCloud Plus Licenses in a NetSuite environment, the time to refresh balances will vary. This means that if a transaction has been posted in NetSuite until the Refresh is complete, the amounts shown in the current and comparison columns will not be up to date.
    • There are two ways for users to see the real-time, up-to-date amounts, regardless of whether the Flux Analysis record balance has been refreshed. 
      • Under the NetClose System Settings, under the Flux section, users can enable the setting Real Time Flux Balances. When this is on, the Real Time amounts will replace the Record amounts in the Current and Comparison columns.
      • With this setting is disabled, users can also see the Real Time amounts by selecting the current and comparison period from the Additional Periods dropdown. When the same period as the current or comparison period is selected, NetClose will display the period again with the Real Time amount in the additional period column while the current and comparison period column will remain the record value. 
  • NetClose also allows users to add extra periods to their flux analysis for further review. Additional periods can be included in the "Trends" section of the Review Flux Analysis page. Users can add as many periods as needed to provide additional context. However, the flux analysis itself will still be based on the current and comparison periods. The walkthrough below outlines the steps to add extra periods.
    • The "Additional Periods" dropdown in the "Trends" section enables users to select extra periods to display alongside the current and comparison periods used in the flux analysis:
    • The additional periods will appear alongside the current and comparison periods. To differentiate them, the current and comparison periods will have a darker background.

  Click here to see the walkthrough in full screen.

Was this article helpful?