Manage journal entries in NetSuite

Journal entries help you: 

• Track the total amount deposited by Amazon for a given settlement summary report.
• Automate the last step of the reconciliation process, which is to post the amounts in NetSuite G/L accounts.
• Reconcile the Amazon deposits against NetSuite transactions and settles the bank accounts at the end of a settlement period.

Understand how the flow works

For a given settlement report, you can create journal entries in NetSuite. Amazon generates reconciliation reports once in 15 days that include the Amazon deposit calculation. Also, any differences that are found between the Amazon reconciliation report and the information in NetSuite, is identified as a variance. When you run the “NetSuite Settlement Summary Record to NetSuite Journal Entry” flow, the flow fetches the settlement summary record from NetSuite and creates a journal entry record in NetSuite. This is a scheduled flow.

For more information about a journal entry record, refer to understand a journal entry record in NetSuite. 

Before you set up the flow

If you're using any custom role in NetSuite other than the native "Celigo eTail SmartConnectors" role, you'll need to add the "Make Journal Entry" permission before you can run the flow.

Configure and run the flow

Recommended: Before you run the flow, it is recommended that all the transactions lines in the settlement summary report are in the “Applied” status. This is to avoid variances.

Step 1: Configure basic settings

1. In integrator.io, click Amazon - NetSuite Integration App tile.
2. Go to Flows > Settlements.
3. Enable the “NetSuite Settlement Summary Record to NetSuite Journal Entry” flow.

Step 2: Configure advanced settings

1. Go to the Settings > Settlement > Journal Entry tab.
2. In the “NetSuite saved search to get Amazon settlement summary records” field, select a saved search to retrieve the Amazon settlement summary records.
   
   Note:  The journal entries are created only for the retrieved settlements.
3. In the Amazon Payment account field, select a bank account to track the final Amazon settlement amount.
4. In the Variance account field, select a G/L account to track the variance amount between the Amazon deposited amount and the reconciled amount.
5. In the “Map transaction fees to G/L account” setting,
   • From the Amazon Amount Description list, select an available value. From the NetSuite Account list, select an available value to map the amount description to the NetSuite G/L account. (OR)
   • If you do not want to map any fee type to a specific G/L account, you can use a default account to track the remaining fee types.
6. In the “Map non-transaction amounts to G/L account” setting,
   • From the Amazon Amount Description list, select an available value for the transaction types other than “Order” and “Refund.” From the NetSuite Account list, select an available value to map the amount description to the NetSuite G/L account. (OR)
   • If you do not want to map any fee type to a specific G/L account, you can use a default account to track the remaining fee types.
7. Click Save. 

Step 3: Map your fields and run the flow

1. Next to the flow, click Edit Mappings.  
2. From the “Import Field (NetSuite)” drop-down list, select Subsidiary (InternalId). 
3. Next to the newly added entry, click Settings.
4. On the Settings window, in the “Field Mapping Type” field, select Hard-Coded.
5. From the “Value” drop-down list, select the appropriate subsidiary.
6. Click Save. After you save, the entry is displayed as follows:
   

   Export Field (HTTP)	Import Field (NetSuite)
   <Subsidiary number>	Subsidiary (InternalId)
   <Currency Value>	Currency (InternalId)

7. On the mappings window, click Save & Close.
   
   Note: Repeat steps 2 to 7 to add another mapping for currency.
8. Run the “NetSuite Settlement Summary Record to NetSuite Journal Entry” flow.

Find your journal entry record in NetSuite

After you run the “NetSuite Settlement Summary Record to NetSuite Journal Entry” flow, in NetSuite:

• In the journal entry record, in the eTail > Amazon tab, you can find the “Amazon Account” and “Settlement ID.”
• The settlement summary record is attached to the journal entry record.