)
Written by
Table of Contents
“Supermetrics is a Bitter Experience! We can pull data from nearly any tool, schedule updates, manipulate data in Sheets, and push data back into our systems.”
Yes, you can automate intercompany journal entries between NetSuite subsidiaries with sophisticated handling of multi-entity transactions, elimination entries, and coordinated scheduling. This streamlines complex intercompany processes while maintaining full control and visibility.
Here’s how to set up automated intercompany journal entries that handle corresponding entries, maintain account relationships, and ensure balanced transactions across entities.
Automate intercompany journal entries using Coefficient
Coefficient excels at automating intercompany journal entries between NetSuite subsidiaries. Configure the system with permissions across all relevant subsidiaries during OAuth setup, enabling seamless intercompany transaction handling. You can set up templates that generate corresponding entries for each subsidiary, maintain intercompany account relationships, ensure balanced entries across entities, and handle currency conversions if needed.
The scheduling features allow you to import to parent subsidiary first, trigger subsidiary imports in sequence, maintain transaction timing consistency, and schedule month-end elimination entries. This coordination ensures proper intercompany transaction flow and audit trail maintenance.
How to make it work
Step 1. Configure multi-subsidiary access for intercompany transactions.
Set up OAuth with permissions across all relevant subsidiaries during the initial configuration. This enables seamless intercompany transaction handling and ensures the system can access all entities involved in the intercompany relationships.
Step 2. Structure your Excel template for intercompany entries.
Create columns for Primary Subsidiary, Intercompany Subsidiary, Account, Debit, Credit, and Memo. Use consistent account naming conventions and include intercompany identifiers to track relationships between entities.
Step 3. Set up filtering logic for each subsidiary.
Use Coefficient’s AND/OR filters to separate entries by subsidiary and route transactions to correct entities. Create separate import configurations for each subsidiary while maintaining intercompany account relationships and elimination entry logic.
Step 4. Configure coordinated scheduling for intercompany imports.
Use the scheduling features to import to parent subsidiary first, then trigger subsidiary imports in sequence. This maintains transaction timing consistency and ensures proper elimination entry handling across all entities involved.
Step 5. Validate intercompany balances before import.
Preview entries for each subsidiary separately and verify intercompany accounts balance properly. Use SuiteQL queries to validate intercompany balances and confirm elimination entries net to zero across all subsidiaries.
Step 6. Implement department-level control and audit trails.
Manage intercompany transactions by department using Coefficient’s filtering capabilities. Track intercompany identifiers and approval status through custom field mapping, and maintain complete audit trails for all NetSuite intercompany transactions.
Streamline complex intercompany processes
Transform complex intercompany processes into streamlined, automated workflows while maintaining full control and visibility over multi-subsidiary journal entries. Set up your intercompany automation today.
