A journal entry records debits and credits to be posted to general ledger accounts. Account values are thus adjusted without entering transactions such as invoices or bills.
The source data for a journal entry often comes from another system and is readily available in CSV or Excel format. Rather than key this information in manually or with a CSV import ExtendInsights users save time by creating their journal entries directly from Excel.
In this video, we will show you how to manage Journal Entries via Excel using ExtendInsights for Data Management NetSuite.
Template Layout
💡 Tip: It is best to check out the forms and fields and identify the header, column, and required fields in NetSuite that you may need to build the template.
If you are using NetSuite Classic Interface you can go to:
Transactions>Financials>Make Journal Entries
TranId
Trandate
Memo
Line List: Account
Line List: Debit
Line List: Credit
Line List: Memo (Optional only. Used for notes)
Create Journal Entry
To create one record, lines that have the same header values will be recognized as one record.
Step 1: Fill in the value for the memo and repeat the header values on the template for each line you wish to have on your Journal Entry. Trandate and Tran ID are automatically generated by NetSuite.
Step 2: Put in the line detail values. You can copy from one sheet to another or key in the account from the pick list value or type ahead on the cell.
Step 3: Send to NetSuite by clicking Upload to NetSuite and then Upload Records.
💡 Note
You can create multiple records using ExtendInsights. To know the different ways to create Journal Entries. Check this guide!