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

Ryan Pesaturo

May 28 2024

2 min read

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.

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!

This publication contains general information only and Sikich is not, by means of this publication, rendering accounting, business, financial, investment, legal, tax, or any other professional advice or services. This publication is not a substitute for such professional advice or services, nor should you use it as a basis for any decision, action or omission that may affect you or your business. Before making any decision, taking any action or omitting an action that may affect you or your business, you should consult a qualified professional advisor. In addition, this publication may contain certain content generated by an artificial intelligence (AI) language model. You acknowledge that Sikich shall not be responsible for any loss sustained by you or any person who relies on this publication.

About the Author

Ryan Pesaturo

Ryan Pesaturo is an associate NetSuite consultant in the firm’s technology group. He joined Sikich in June of 2018 after previously working as a financial analyst. Ryan is from the Boston area and works closely with the cities evolving life science industry to implement and support clients in their NetSuite solutions.