This feature is aimed at ‘One World’ customers who have multiple subsidiaries and have complex accounting needs wherein each subsidiary requires a unique GL accounts for payment creation, write-offs, and customer deposits. The accountant or the controller can easily specify the GL accounts for each subsidiary against each payment type and bank. To support this in CAM, a new field, Multi-subsidiary Settings, has been added to the connector for the Bank File to NetSuite flow that allows you to map the subsidiaries with respective GL accounts and dummy customer.
To access this field, click the Settings icon against the Bank File to NetSuite flow. The Settings window is displayed. Click Advanced Settings > Multi-subsidiary Settings
This field allows the connector to identify the GL accounts that should be used for a particular subsidiary to create payments, write-offs, or customer deposits. When you add a subsidiary, it is mandatory to provide data in the Subsidiary and Payment Account field. You can choose to specify a dummy customer for the corresponding subsidiary to allow the creation of incoming payment in case the customer is not identified during processing, and later once you have identified the customer you can change the value to the correct customer in the Cash App Transaction record. Once you select the correct customer, the old payment on the dummy customer is deleted and a fresh payment is created for the selected customer. At the time of saving the settings, dummy customer information is validated and an error is generated if you enter an incorrect dummy customer name in this field. Click + to add a new subsidiary and click – to remove an added subsidiary.
CAM uses the following criteria to identify the GL accounts that should be used for a particular subsidiary to create payments, write-offs, or customer deposits:
- Subsidiary information in the Bank file
- Customer subsidiary information in NetSuite
Once the connector has identified a subsidiary or customer in the bank file for a transaction, the payment record is created in NetSuite for that transaction with the associated Account and Subsidiary information.
If you only use one subsidiary for Accounts Receivable processes then you can still use the subsidiary pertaining fields available in the Settings window for the Bank Transactions to NetSuite flow.
Also, the Payment Account, Dummy Customer, Write Off Debit Account, and Customer Deposit Credit Account fields available in the Bank Transactions to NetSuite flow also acts as default subsidiary when the customer for a transaction does not belong to any subsidiaries defined by you in the Multi-subsidiary Settings field. In case, if the subsidiary information for a customer does not belong to any subsidiaries mentioned by you in the Bank File to NetSuite flow then CAM uses the subsidiary information in the Settings window for the Bank Transactions to NetSuite flow to create payments.
Note:
- We recommend you to add all the subsidiaries being used for cash application in the Multi-subsidiary Settings field.
- For the Bank file to NetSuite flow, when you click Settings to add new fields in the “File Parsing” section, the fields are now visible in the Bank transaction to NetSuite flow mapping window on refresh.
In case if CAM is unable to identify both Customer and Subsidiary information in the Bank file, payment is created for the dummy customer specified in the Bank Transactions to NetSuite flow.