This article provides a detailed guide on how to configure the NetSuite amortization feature with Spendesk and how to use it effectively once set up. By following these steps, you ensure accurate financial management and streamlined processes.
NetSuite's amortization feature allows businesses to allocate expenses over a period, matching them with corresponding revenue generation. Integrating this with Spendesk ensures that your financial operations are accurate and efficient.
Prerequisites to NetSuite amortization feature
Before you begin, ensure that you have:
An active NetSuite connection.
Access to a NetSuite account that has active amortization templates ready for use.
Your amortization templates have a Deferral account selected.
Configuring NetSuite amortization feature
To configure the NetSuite amortization feature, please follow these steps carefully to enable REST Web Services, update the Spendesk integration bundle, and then refresh accounting settings on Spendesk.
Step 1 - Enable REST Web Services
Step 1 - Enable REST Web Services
Login to NetSuite: Use your Administrator credentials to log in.
Navigate to Enable Features:
Go to Setup > Company > Enable Features.
Select the SuiteCloud tab.
Ensure that SuiteTalk (Web Services) is enabled, and check the REST Web Services option.
Step 2 - Update the Spendesk integration bundle
Step 2 - Update the Spendesk integration bundle
Access SuiteBundler: Navigate to Customization > SuiteBundler > Search and Install Bundles > List.
Locate and Update the Spendesk Bundle:
Scroll down to find the Spendesk native integration bundle.
Click Update next to the bundle.
Confirm by clicking Update again on the next screen.
Wait for the update to complete. The 'Status' column will change from 'Pending' to '✅' when finished.
Step 3 - Refresh accounting settings in Spendesk
Step 3 - Refresh accounting settings in Spendesk
Return to Spendesk: Go to Settings > Accounting Setup.
Refresh accounting settings:
Scroll to the bottom and click Refresh accounting settings.
The settings will refresh in less than 5 minutes.
Step 4 - Start using the amortization feature
Step 4 - Start using the amortization feature
Once the configuration is complete, you can use the amortization feature within Spendesk:
Navigate to Bookkeep: Go to Bookkeep > Prepare in Spendesk.
Assign amortization templates:
View and assign your amortisation templates on payables.
Ensure that every payable aligns with the correct template for accurate financial reporting.
By following these steps, you'll successfully configure and use the NetSuite amortization feature with Spendesk, enhancing your financial management capabilities. For any further questions, refer to related articles or contact Spendesk support for assistance.