FloQast Intercompany Journal Entries allow you to create a single journal entry that posts across multiple subsidiaries in NetSuite. This capability integrates directly with NetSuite’s Advanced Intercompany Journal Entry module.
Legacy NetSuite intercompany journals are not supported.
Requirements
1. NetSuite Configuration
- The Advanced Intercompany Journal Entry feature must be enabled in your NetSuite environment.
2. Auto Balance Setting
The Auto Balance option is optional and managed within FloQast.
Enable this setting only if your NetSuite environment is already configured with intercompany auto-balancing logic.
Field Configuration and Visibility
Intercompany fields are available by default in FloQast.
To review or modify the fields displayed during journal entry creation:
Navigate to Settings > Fields and Options.
Verify that all required intercompany fields are enabled.
Note: Column reordering is not currently supported. However, all required fields can be added and made visible through this menu.
Dynamic Journal Entry Form
The Journal Entry Management form dynamically adjusts based on whether a journal entry is designated as intercompany.
Enable Intercompany Mode
On the journal entry form or within the import modal, select the Intercompany Journal Entry checkbox.
Line-Level Fields
When intercompany mode is enabled, additional required fields become available at the line level:
Line Subsidiary
Due To / From Subsidiary
Eliminate
These fields are required to ensure proper intercompany processing within NetSuite.
Enabling Auto Balance in FloQast
The Auto Balance feature allows NetSuite to automatically generate intercompany offset lines.
To enable this setting in FloQast:
Navigate to Settings > Fields and Options
Locate your NetSuite connection and select Action.
Choose Edit Posting Configuration.
Enable Auto Balance for Intercompany Entries.
Confirm that the approval flow is configured to submit journal entries in an unposted state.
Important: Approval flow must be enabled. NetSuite requires intercompany journal entries to remain unposted so that balancing lines can be automatically generated prior to final posting.
Real-Time Auto Balance Workflow
When Auto Balance is enabled, FloQast and NetSuite operate in real-time to ensure that intercompany journal entries are properly balanced.
Step 1: Prepare the Journal Entry
When the preparer selects Prepare, FloQast submits the journal entry to NetSuite in an unposted state.
Step 2: Sync Back
NetSuite automatically generates the required Due To and Due From balancing lines.
FloQast immediately syncs these system-generated lines back into the journal entry.
What You Will See:
NetSuite-generated lines are visually highlighted in FloQast.
All system-generated updates are recorded in the Activity Log and attributed to the NetSuite sync.
Step 3: Approve and Post
Once approval is completed in FloQast, the journal entry status is updated from Unposted to Posted in NetSuite.
Important: Ensure your NetSuite environment allows journal entries to remain unposted throughout the approval process. This is required for Auto Balance to complete successfully.