1. Account Administration
  2. NetSuite OneWorld
  3. Intercompany Framework
  4. Intercompany Netting
  5. Creating Netting Statements from the Netting Workbench

Creating Netting Statements from the Netting Workbench

The Netting Workbench lets you select the nettable transactions on the accounts payables and accounts receivables that will be applied to create a netting statement.

There are two ways to use the Netting Workbench:

If you use Suggest Netting, NetSuite calculates the sum of all nettable payable lines and the sum of all nettable receivable lines. The amount available for netting is the absolute lower value between the nettable payable and the nettable receivable amount if they have the same signs (positive or negative).

For example, you have a total nettable payable (NP) of 50 and the total nettable receivable (NR) of 30. In this case, the amount available for netting is 30. If the total NP is 50 and the total NR is -30, then the amount available for netting is 0.

Note:

Multiple invoices linked to one bill, and multiple bills linked to one invoice appear on the Main subtab but are not nettable. These transactions appear only when the Nettable box is clear. These transactions do not have a related transaction in the Pair column.

To create netting transactions:

  1. Click Suggest Netting to let NetSuite apply and select nettable transactions, or manually select nettable transactions on both the Accounts Payable (A/P) and Accounts Receivable (A/R) panels on the Main subtab.

    Important:

    When you manually select nettable transactions, make sure that the amounts under the Applied column on both A/P and A/R are equal. The Applied amount is the amount to settle by netting. You can edit the applied amount so that the applied A/P and A/R amounts match.

  2. (Optional) Click the Exchange Rate subtab, and then modify the exchange rate for either subsidiary’s base currency, if required.

    Note:

    If you specified a corporate exchange rate as an intercompany preference, additional information appears on the Exchange Rate subtab. This preference requires the Currency Exchange Rate Types feature. For more information, see Defining Intercompany Preferences and Currency Exchange Rate Types.

    Nettable transactions appear in the exchange rate for the subsidiary’s base currency. Any transaction where the base currency was changed from the default displays the updated exchange rate. The Netting Settlements subtab provides links to the Netting Settlements. View the GL Impact subtab on the a Netting Settlement to see the settlement amount, based on the modified exchange rate.

  3. (Optional) Click the links in the Pair columns to open the paired intercompany transactions.

    Review the transactions to ensure the netting transaction you are creating is correct.

  4. Click Save to create a netting statement.

    For information about the Netting Statement page, see Netting Statement.

Related Topics:

General Notices