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RevRec

RevRec Premium: NetSuite

Introduction

RevRec Premium seamlessly integrates with NetSuite to automate the posting of journal entries. All you have to do is connect the two systems using the configuration flow based on your business needs. Once connected, journals generated in RevRec Premium can be pushed directly into your NetSuite ledger, ensuring accuracy and reducing manual effort.

Sync Overview

When RevRec Premium is connected with NetSuite, journal entries generated during the monthly close are automatically pushed into your NetSuite ledger. This eliminates the need for manual uploads and ensures your accounting system always reflects the latest activity.

RevRec Premium supports two posting options:

Automated Posting: Journals are pushed to NetSuite at the frequency you configure.

On-Demand Posting: You can trigger postings manually from the Post Journals page whenever needed.

Once journals are posted, their status is updated in RevRec Premium, and you can verify the entries directly in NetSuite under the Journal Entries section. This provides end-to-end visibility and control over the posting process.

Prerequisites

Before enabling the posting flow, ensure that:

  • Journal account mappings are set up in RevRec Premium. This guarantees that journals are routed correctly to your NetSuite accounts.

  • The NetSuite user role used for integration has the Make Journal Entry permission. To confirm:

  • Log in to NetSuite.
  • Navigate to Permissions > Transactions.
  • Ensure the role assigned has Make Journal Entry enabled.
  • To publish Journal Entries with custom fields in NetSuite, ensure the NetSuite user role has access to that field (e.g., access to the Department page for Department-based postings).

Connecting RevRec Premium with NetSuite

Note:

Only users with the Controller role can connect your RevRec Premium site with NetSuite.

Follow these steps to integrate the two systems:

  1. Log in to your RevRec Premium site and select the environment where you want to integrate NetSuite.
  2. Navigate to Settings > Accounting.
  3. On the Accounting page, click the Connect icon.
  1. In the Connect Your Data pop-up, select AC Journal Posting.
  2. The Journal Posting pop-up displays all the available accounting systems for integration. Click NetSuite.
  1. On the Connect NetSuite screen, provide the following required connection parameters:
  • NetSuite Account ID: Found at the beginning of your NetSuite account URL (For example, example from https://example.app.netsuite.com/).
  • Consumer Key & Consumer Secret: Generated in NetSuite under Setup > Integration > Manage Integrations.
  • Token ID & Token Secret: Generated under Setup > Users/Roles > Access Tokens > New Access Token.
  1. Click Connect Your Data, then enter your NetSuite login details.

Once connected, RevRec Premium automatically publishes journal entries created during the close process to NetSuite.

Publishing Journal Entries with Custom Fields

RevRec Premium supports posting journal entries based on NetSuite custom fields such as Location, Department, and Class.

  • To use a custom field, ensure the NetSuite user role has access to that field (e.g., access to the Department page for Department-based postings).

  • At least one Class custom field is required for journal posting.

Adding Custom Fields

To post journal entries to NetSuite, you will need to add the Class custom field to your site and include it in journal posting. Follow these steps to add the custom fields:

  1. Navigate to Settings > Accounting > Site Settings > Custom Fields.
  2. Click the + Add icon to add a new field.
  1. Specify the following:
  • API Name (e.g., Name)
  • Label (display name)
  • Source (Customer, Product, or Subscription)
  1. Click Save to save the field.
  2. Mark the Class custom fields with Include in Journal Posting. You can follow the same steps to add more custom fields.

Using Internal Account ID for Posting

By default, RevRec Premium uses the Account Number from your chart of accounts while creating aggregated journals for posting. You can configure the system to post using Internal Account IDs instead.

Enabling Internal Account ID Posting

Follow these steps to enable Internal Account ID for posting:

  1. Navigate to Settings > Accounting > Journal Posting Settings.
  2. Turn on the toggle for Use Internal Account ID for Journal Posting.
  3. Click Save.

Note:

The Internal Account ID is permanent and cannot be updated once the account is created.

Once enabled, an additional column called Internal Account ID column appears in your Chart of Accounts, alongside the standard account number. This column is used when creating journals for posting to NetSuite, ensuring consistent and accurate mapping between your RevRec Premium and NetSuite accounts.

Executing Journal Posting

You can post journals in NetSuite in two ways:

  • Automatic Posting: Based on your journal frequency configuration.
  • Manual Posting: From the Post Journal page, click Post Journals.

During the initiation of Journal Entries posting, an Export Journals widget appears on the left menu.

After posting:

  • The journal status is updated in RevRec Premium as Success.
  • The journal entries can be viewed in NetSuite under the Journal Entries page.

For easier tracking, add the External ID field to your NetSuite Journal Entries view. This lets you quickly reference the RevRec Premium Posting ID.

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