Manage Accounting with Netsuite

enabling the netsuite accounting integration with granular gl account mapping transforms your financial operations—automating complex postings, ensuring clean audits, and giving you real time visibility into every sync this solution eliminates manual reconciliation, reduces compliance risk, and accelerates month end close by connecting nue’s flexible billing platform with netsuite’s robust general ledger with product category level gl mapping and dedicated clearing account flows, you gain compliance automation automated, audit ready account postings for sox/gaap compliance seamless reconciliation reconcile stripe payments, ar and more directly in netsuite, with error transparency that lets your team close the books faster setting up the netsuite accounting integration follow these steps to connect your nue workspace to netsuite and configure granular account mapping overview purpose the netsuite accounting integration is available out of the box and the default integration when you connect to netsuite with nue it can be used in the following ways as mentioned in the following document setup your integration use case when you are collecting and accounting in netsuite when you are collecting on stripe and accounting in netsuite when you are collecting with nue payment links and accounting in netsuite when you are collecting with a third party payments collection and accounting in netsuite data model nue's netsuite connector supports the synchronization of the following objects nue object netsuite object direction customer customer one direction sync from nue to netsuite product item one direction sync from nue to netsuite order sales order one direction sync from nue to netsuite (sent at order activation) invoice and invoice item invoice one direction sync from nue to netsuite (sent at invoice activation) payment application payment one direction sync from nue to netsuite refund application refund one direction sync from nue to netsuite credit memo and credit memo item credit memo bi directional created by nue → qbo; cancellations in netsuite → nue the diagram below illustrates the synchronization flow note that products are stored in salesforce but are synchronized to netsuite using nue’s graphql queries, which are automatically routed to salesforce to fetch the required data difference between accounting and payments netsuite integration the netsuite accounting integration is always on when you are working with netsuite the only difference between the two integrations is if you are collecting on stripe, nue payment links or elsewhere, payments will be sent from nue to netsuite if you are collecting with netsuite , payments will be sent from netsuite to nue setup your netsuite accounting integration step 1 connect your netsuite environment connect your netsuite environment using the details on the setup page step 2 enable gl account mapping in the netsuite integration settings, locate the record type mapping section on page 4 the mappings you specify here determine how items in nue are categorized when transferred to netsuite, impacting inventory management, service tracking, and revenue recognition nue field netsuite item types required? nue subscription non inventory sale yes nue entitlement service sale yes nue asset inventory yes nue subscription select the netsuite item type that should represent nue subscription products most commonly mapped to "non inventory" to indicate that subscriptions are not tracked as physical inventory items in accounting nue entitlement choose the netsuite item type for nue entitlements, which typically refer to services provided rather than physical goods commonly mapped to "service" for service based business models nue asset set the netsuite item type for nue assets, usually representing inventoried products usually mapped to "inventory," signaling that these items should be accounted for as stock in netsuite step 3 configure gl account mapping general guidance for gl account mapping in nue quickbooks config always verify each account exists in netsuite and has the correct account type for the intended use map based on both transaction type (inventory, service, non inventory) and your company’s accounting structure to ensure report accuracy use clear, standardized account names to reduce mapping errors and confusion review mappings after any chart of accounts changes in netsuite, and periodically audit mapped transactions for correct classification please note that the netsuite internal gl account ids need to be used subscription income account purpose defines the netsuite income account for subscription related sales (e g , saas or recurring product revenue) setup & usage map to a netsuite income account such as “subscription income” or “recurring revenue” applied to invoice line items tagged as subscription products best practice ensure the mapped account is of type income and aligns with your revenue recognition policy subscription revenue account purpose specifies the netsuite revenue account used for revenue recognition of subscription items setup & usage select a netsuite revenue account where deferred/recognized subscription revenue should post best practice use an account linked to your arm or revenue schedules for accurate recognition entitlement income account purpose defines the income account for entitlement related product sales (e g , support access or usage rights) setup & usage map to a netsuite income account such as “support income” or “entitlement revenue” best practice confirm account type is income and distinct from subscription or asset revenue for clarity entitlement revenue account purpose specifies the revenue account for recognized entitlement revenue setup & usage map to the netsuite revenue account tied to entitlement items in revenue arrangements best practice ensure alignment with your arm rules for entitlement recognition asset income account purpose designates the netsuite income account for tangible or fixed asset product sales setup & usage select an income account such as “product sales” or “hardware revenue” best practice confirm the account type is income and used only for asset type items asset revenue account purpose sets the netsuite revenue account used for recognizing asset based revenue setup & usage choose the account used in arm for asset related revenue schedules best practice keep separate from service/subscription revenue accounts for reporting clarity nue clearing acct purpose acts as a temporary clearing account for transactions synced between nue and netsuite useful for reconciling payments before final deposit setup & usage map to a clearing or suspense account to hold intermediate postings during sync best practice reconcile and clear balances regularly; should net to zero after sync completion step 4 save and review mappings click save to update your mappings step 5 monitoring and error resolution all invoice, payment, credit memo, and refund sync events are tracked in the transaction hub each transaction displays a status not transferred, transferred, or failed click any transaction for a detailed log of the netsuite sync (errors, retry option, mapped account details) step 6 ongoing maintenance product or bundle changes in nue will trigger update prompts for account mappings regularly check the transaction hub for error notifications and to retry failed syncs as needed