Balancing Transactions by Segment
After you set up a balancing segment, NetSuite can use the values assigned to those segments in transaction headers and lines to create balancing journals.
To create the balancing journals, you run a process to balance transactions by segments. You can run this process any time.
When the Accounting Periods feature is enabled in your account, the Balancing by Segments process is part of the Period Close Checklist.
To run the process to balance transactions by segment:
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Go to Transactions > Financial > Balance Transactions by Segments.
You need the Balance Transactions by Segments permission to access this page. To run the process, you need the Balancing Journal permission (create level or higher) and the Edit Record Access Level permission for all active balancing segments.
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In the Posting Period field, select the posting period to balance by segments.
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In the Accounting Books field, select the accounting books to include in the balancing journal. This field appears only when the Multi-Book Accounting feature is enabled.
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In the Subsidiaries field, select the subsidiaries to include in the balancing journal. This field appears only in NetSuite OneWorld accounts.
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Check the Include Children box if you also want to balance the children of the subsidiary by segments. This field appears only in NetSuite OneWorld accounts.
Note:The process deletes existing balancing journals for a period when you rerun the process for an overlapping combination of accounting books and subsidiaries. You receive a warning with a link to the balancing journal that the process will delete. You need the Full level Balancing Journal permission to rerun a process that deletes an existing journal. Alternatively, adjust the parameters until the message disappears.
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(Optional) In the Memo field, enter a memo for the balancing journal.
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Click Run.
When the process starts, the Balancing by Segments Process page opens with a message confirming that the process has started. This page includes the following information in addition to the fields on the Balance Transactions by Segments page:
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Date/Time
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Status
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Percent Complete
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Click Refresh to obtain the latest process status, or click New Process to start a new balancing by segments process.
Balancing journals are specific to the posting period, subsidiary, and accounting book. If you run one process for multiple subsidiaries and accounting books, NetSuite creates a balancing journal for each posting period, subsidiary, and accounting book combination.
NetSuite limits the number of lines per balancing journal to 1,000. If a balancing journal for a single period-subsidiary-accounting book combination exceeds this limit, additional balancing journals are created. For example, if a balance journal would have 2,500 lines, NetSuite creates 3 balancing journals, none of which exceed the 1,000–line limit.
After the Balancing by Segments process has finished, source transactions include Balanced by Segments in the record status. In addition, the GL Impact subtab includes another subtab called Balancing by Segments Details. For details, see Transactions Balanced by Segments