Understand a journal entry record in NetSuite

A journal entry record in NetSuite helps you track the total amount deposited by Amazon for a given settlement summary report. The settlement deposit date is considered as the journal entry record creation date.

A journal entry record might have the below transaction lines based on the settlement report:

• Amount deposited by Amazon: A line that displays the final Amazon settlement amount to be deposited in the bank account.
• Total transaction amount: A line that displays the amount only for “order” and “refund” related transactions.
• Total transaction amount for Refunds: If you select a separate account in the "NetSuite Refund Account" advanced settings, a journal entry will be made with the refund amount as a separate line.
• Total transaction amount for Payments: A separate line with the payment amount is added in the journal entry record if you select a separate account in the “NetSuite Payment Account” advanced setting.
• Fees charged by Amazon: A line that displays the fee charged by Amazon based on the mappings you provide in the “Map transaction amounts to G/L account” and “Map non-transaction amounts to G/L account” settings. A new line is added for every combination of Fee and G/L account.
• Variance amount: A line that displays the difference amount between the Amazon deposit and reconciled amounts.
  • Note: Variance = Total reconciled amount - Amazon deposit. The total amount is the sum of all the transactions.

For “Net amount deposited by Amazon” and “Variance amount” memo lines:

• If it is a +ve amount, debit from the bank account.
• If it is a -ve amount, credit to the bank account.

For any other memo line other than “Amount deposited by Amazon” and “Variance amount,”

• If it is a +ve amount, credit to the bank account.
• If it is a -ve amount, debit from the bank account.

Notes:

• You can delete the journal entry record and create it again for the same settlement summary report. To create the journal entry again, in the Celigo Amazon Settlement Summary record, uncheck the “Celigo Amazon Settlement Exported” box.
• If you do not find an appropriate fee type in the “Map transaction fees to G/L account” and “Map non-transaction amounts to G/L account” settings, you can manually enter values in the “Amazon Amount Description” field. You can map these values to any NetSuite G/L account. Any manual entry is added as a separate transaction line in the journal entry record.

Sample Celigo Amazon Settlement Summary

The amounts are grouped by fee type.

In the below above, there are multiple transaction lines for “Commission” and other types (Example: FBAPerUnitFulfillmentFee).

See the table below to see how these similar transaction lines are calculated in a journal entry record.

Sample Journal

The transaction amounts for “Commission” and “FBAPerUnitFulfillmentFee” are summed and listed against a single line in the journal entry record.