Enabling Accrual Automation
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Accrual Automation helps administrators streamline how expenses are recognized in NetSuite by automatically posting accruals whenever bills or invoices are recorded. This ensures that financial data stays accurate and timely without requiring manual intervention. For example, if a company regularly receives partial shipments from vendors, Accrual Automation can help record and adjust expenses appropriately until all goods are fully billed.
This article explains how to enable Accrual Automation in your NetSuite account using SquareWorks Automate.
Before configuring Accrual Automation, ensure you’ve completed the following setup requirements. These steps guarantee that you have access to all relevant functionality and that the feature works as expected.
If you haven’t already installed the SquareWorks Automate SuiteApp, complete the installation and base configuration process before proceeding with Accrual Automation:
To access and modify Accrual Automation settings, make sure you’re logged into NetSuite with the Administrator role:
When you enable Accrual Automation, you unlock features that automatically record accrual postings for your organization’s transactions. This reduces manual data entry and allows you to maintain real-time financial visibility.
To enable Accrual Automation follow these steps:
First, you need to access the Accrual Automation settings in NetSuite. Begin by going to the SquareWorks menu, hovering over Automate, and selecting Settings:
After selecting Settings, it will open a new screen for the Automate Platform Features. Go ahead and click the Enable Feature to enable the Accrual Automation section:
Now, to confirm this action, click the Enable Accrual Automation button:
After enabling the Accural Automation, the Enable Feature button changes into Settings:
To define the Default Accounts Payable Account used by Accrual Automation, click the Settings button on the Accrual Automation section:
Next, on the Accrual Automation Settings page, select the Accounts Payable option from Default AP Account dropdown:
Finally, click the Submit button to confirm the Default AP Account for all automated accruals:
This concludes the process of Enabling Accrual Automation in a NetSuite account using SquareWorks Automate.
