In this article we explain how you can sync your accounting details with NetSuite.
You can sync:
Chart of accounts
Cost carriers
Cost centers
VAT rates
Supplier accounts
Chart of Accounts
The Chart of Accounts will be synced with all booking accounts from NetSuite when the API is connected. Accounts cannot be created manually in Moss. New accounts have to be created in NetSuite and will be updated in Moss when the data is synced.
How-to: Sync chart of accounts from NetSuite
How-to: Sync chart of accounts from NetSuite
Click on "Settings" > “Accounting” > “Chart of Accounts” to open the list.
In order to sync booking accounts from NetSuite, click “Sync now”.
In order to make changes to the chart of Accounts, you can either:
Click on a Chart of Accounts to change the Category
Click on the 3 dots next to a Chart of Accounts to change the to active/inactive or delete a Chart of Accounts
Note: Inactive accounts cannot be selected for pre-accounting of transactions and invoices.
Please mind that account number and name cannot be edited since this information is synced from NetSuite.
To select multiple Chart of Accounts, you need to check the checkbox above all the Accounts. To bulk edit, you can click the “Edit” button that will appear at the bottom of the page.
Cost Carriers
The Cost Carrier is used to categorise company expenses in detail in order to better analyse expenses by advanced reporting.
The most common use case for cost carriers are project related expenses to track project costs. But they can be used for any other purpose.
Notes: Cost Carriers categories are not obligatory for accounting; however, larger organisations use them for advanced analytics accounting data.
How to: Sync, upload, or create Cost Carriers in Moss
How to: Sync, upload, or create Cost Carriers in Moss
Go to “Accounting” and then click on “Cost Carriers” in the tab at the top.
Click on “Sync now” to complete the list.
The list of cost dimensions is loaded from NetSuite. Choose what category to use as “Cost Carrier”.
Cost Center
he cost center contains the expenses of the company that don't generate profit but are needed to support the operations that do add to the cost of doing business.
How to: Sync Cost Centers from NetSuite with Moss
How to: Sync Cost Centers from NetSuite with Moss
Click on “Accounting” > “Cost Centers”
When setting up Cost Centers, click “Sync now”
The list of cost dimensions is loaded from NetSuite. Choose what category to use as “Cost Center” by going back to “Accounting Integrations” and then clicking on the input bar for “Cost Center Dimensions”.
As a next step, you can get values from the selected tracking categories. Go to the “Cost Centers” tab and click “Sync now” on each category to get values available from NetSuite.
The list of cost dimensions is loaded from NetSuite. Choose what category to use as “Cost Carrier”.
How to: Assign Cost Center to Team
How to: Assign Cost Center to Team
Click on the “People & Teams” and then click on “Teams” at the top.
Click on a specific team where you want to change/add the Cost Center.
Note: If you wish to do so, you can also create a new Team and add a Cost Center there.
Click on the option to select a Cost Center which you want to assign the Team.
Click on the button “Save” to save the new settings of the team.
VAT Rates
The VAT rates are required for the booking of company expenses and track the VAT paid for company purchases. VAT rates depend on the product or service purchased. In case of purchases abroad, reverse-charge might apply.
Note: Only expense VAT rates are relevant on the Moss platform. Income VAT rates are not relevant for spend and cannot be exported from Moss, although they are displayed on the list. Please make sure to only select relevant rates for pre-accounting. In NetSuite, VAT rates are referred to as Tax Codes.
Support for Legacy Tax and Suite Tax
Oracle NetSuite currently offers two VAT systems to customers, the older “Legacy Tax” and the “SuiteTax” system. Moss supports both, nothing has to be set up specifically for this as we recognise automatically which VAT system is in use.
How-to: Sync VAT Rates from NetSuite
How-to: Sync VAT Rates from NetSuite
Click on “Accounting” and then on “VAT Rates” to open the VAT Rates list in Moss.
In order to sync VAT rates from Netsuite, click “Sync now” in the top right corner.
Using the “Not VAT registered” flag: Moss takes this parameter from NetSuite while syncing. If you want to switch to “Not VAT registered”, first apply the changes in the NetSuite platform. Then, when back on the Moss platform, click “Sync Now” to apply the same VAT settings.
Supplier Accounts
Supplier Accounts are used to assign specific suppliers to spend items. They enable advanced reporting on spend and are part of the double-entry accounting. In NetSuite, supplier accounts are managed as “Vendors” and are not actually accounts payable, but more like supplier tags to bills.
Invoices: Suppliers can be assigned to NetSuite and then be cleared in NetSuite with payment bookings after the export.
Transactions: If supplier accounting is enabled, vendors can also be assigned to card transactions. The field is mandatory in that case. The Accounts Payable is automatically cleared with every transaction export to NetSuite since Moss also exports the bill payment record for each transaction. But supplier accounting enables advanced reporting for finance managers.
Accounting automation: Accounting settings in supplier accounts enable accounting automation for recurring expenses for invoices.
Bank details: Bank details in supplier accounts enable users to pay invoices and reimbursements with SEPA files downloaded from Moss.
How-to: Sync Supplier Accounts/Vendors from NetSuite
How-to: Sync Supplier Accounts/Vendors from NetSuite
Click on “Accounting” > “Suppliers” to open the supplier list.
In order to sync Supplier Accounts (vendors) from NetSuite, click “Sync now”.
How-to: Assign accounting attributes to Supplier Accounts
How-to: Assign accounting attributes to Supplier Accounts
To assign accounting attributes to supplier accounts, you have two options. Either click on the "green + sign" next to "Invoices" or click on the "green + sign" next to "Accounting".
How-to: Create new Supplier Accounts in Moss
How-to: Create new Supplier Accounts in Moss
There are 3 ways to create new supplier accounts in Moss.
Through the Accounting Tab
Click on “Accounting” > “Suppliers”
Then click on the “Add/Import Suppliers” button in the top right corner
You now have multiple options to add a Supplier
Fill out a CSV-Template with the information of your Suppliers and upload them onto Moss. The template can be downloaded in the side drawer.
Fill out the Information of your Supplier in the side drawer and add them manually
While handing in or approving the accounting details in an Invoice
Click on “Invoice”
Then click on “Submit Invoice” in the top right corner and upload your invoice.
When the invoice was submitted, you are able to see the Accounting details. Click on the field next to “Supplier” > “Add Supplier”.
Fill in the information for the new Supplier
The Supplier will automatically be set for the Invoice you are currently editing
While requesting a Reimbursement
Click on “Reimbursements”
Then click on a Reimbursement and click on “Edit” next to “Supplier details”.
Go to select a supplier and then click on “+Add Supplier”
Fill in the information for the new supplier and add him
The new supplier will automatically be set for the Reimbursement you are currently editing.