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Shared Transactions by Netgain

Status: Unverified

Combining an intuitive interface with the powerful impact of templates, Shared Transactions by Netgain lets you easily route the GL impact of a single transaction (i.e. vendor bill) to different subsidiaries and/or segments. Save time and prevent errors by avoiding manual creation of intercompany transactions and allocation calculations in excel. Extend the power of Netsuite by keeping allocations in your ERP, where they belong.

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Description

Shared Transactions by Netgain makes allocation of transactions flexible and simple

Many organizations need to report revenues and expenses across various business units. Shared Transactions by Netgain allows them to split the impact of a single transaction across multiple subsidiaries and business segments flexibly and traceably in NetSuite. Simply assign allocation weights to the various subsidiaries on the source transaction and watch as the general ledger impacts get routed to the desired destinations. Set up templates in advance to apply the same allocation impact to many transactions. This easy-to-use tool provides much-needed functionality for more complex organizations.

Key Benefits

Save time every month 

  • Intuitive UI and flexible allocation weights make allocating transactions easy
  • Templates allow you to apply the same allocation percentages to multiple transactions
  • Eliminates need to leave NetSuite to make calculations and create manual journal entries for allocations

Eliminate costly errors 

  • Removes the need to perform allocation calculations in excel and re-upload
  • Automates creation of allocation journal entries, another common source of errors
  • Templates minimize manual input when applying the same allocation to multiple transactions

Transparent and traceable 

  • Allocation transactions follow the same review process as the originating transaction
  • Apply and see allocations at the transaction line level
  • Complete auditability of allocation amounts and proportions within NetSuite

Key Features

  • Assigns flexible weights to allocate transactions across class, location and subsidiary
  • Intuitive and smooth user interface makes creating allocations easy
  • Powerful application of templates to transactions saves time and reduces errors
  • Integrates approval process with the source transaction for complete audit record
FEATURES

Flexible allocations

Adds much-needed functionality to NetSuite: transaction allocation. Flexible allocations split transactions to separate classes, locations, or subsidiaries within NetSuite in any proportion desired (ex: 1:4:5:1). The allocation impact is automatically applied from the bill to the GL level including the proper journal entries.

Intuitive user interface

The upgraded NetSuite JET user interface helps you intuitively create an allocation on the spot and apply them to a single or multiple lines of your transaction.

Allocation templates

Creating a template with pre-determined allocation amounts and destinations makes allocation application easy and error-free. You can assign templates at the line level to save even more clicks.

Easy tie-back

See the allocation alongside your transaction for complete visibility. Full traceability of automated journal entries and allocation weights.

Built-in approval process

Allocation transactions follow the same review process as the originating transaction for complete audit trail