Utilizing NetSuite’s Transaction Line Distribution SuiteApp for Intercompany or Intracompany Transactions

NetSuite OneWorld users may oftentimes find that managing intercompany or intracompany transactions can be a complex and time-consuming task. However, with the help of NetSuite’s free Transaction Line Distribution SuiteApp, this process can be simplified and streamlined. This powerful tool offers a range of benefits that can help NetSuite users more effectively manage their intercompany or intracompany transactions.

About the Transaction Line Distribution SuiteApp

Instead of manually calculating distributions through reporting and booking transactions across subsidiaries and segments, this SuiteApp gives users the ability to distribute vendor bill and vendor credit lines based on percentage-based or amount-based predefined rules. This makes it easy to accurately allocate costs and credits to the appropriate subsidiaries or segments.

Additionally, the SuiteApp simplifies the distribution of shared direct costs to benefiting subsidiaries or segments, helping to ensure that costs are accurately allocated.

How It Works

The Transaction Line Distribution SuiteApp allows the use of both reusable expense distribution templates and quick add rules on a per transactions basis. These templates can be used at the header or line-level of vendor bills and credits, allowing users to pick and choose where this functionality can be utilized and thus improving efficiency and accuracy.

Distribution template

Similar to NetSuite’s native allocation functionality, users have the ability to create templates leveraging either source transaction’s original coding (including custom segments) or defining on a per template basis, where the resulting entry should be posted.

Saved templates and quick distribution rules are intuitively populated on Vendor Bills and Vendor Credits forms and once posted, instantaneously create journal entries based on the distribution templates used.

NetSuite also captures the links between the source and destination transactions through helpful hyperlinks that allow users to quickly navigate between records and validate all automated transactions are created as expected.

Pairing this solution along with other native NetSuite preferences such as Automated Intercompany Management allows users to further drive efficiencies when it comes to month-end processing.

NetSuite Advanced Intercompany Journal for transactions

In conclusion, NetSuite’s Transaction Line Distribution SuiteApp offers a range of benefits that can help NetSuite users more effectively manage their intercompany or intracompany transactions. With its flexible rules, reusable templates, and automatic journal creation, this SuiteApp is a valuable tool for any NetSuite user.

Have any questions about how this SuiteApp can make intercompany and intracompany transactions more efficient? Please reach out to our NetSuite experts at any time!

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