NetSuite Expense Report

1. 5/20/2020 NetSuite Expense Report Complete Guide | SuiteActive  +61 480 016 233  info@suiteactive.com.au NetSuite Expense Report Overview  Home About Us Services Apps Knowledge Base Contact Us Home  NetSuite  NetSuite Expense Report Overview Search …  SEARCH RECENT POSTS NetSuite Approval Workflow User Guide How NetSuite Consolidated Invoicing Simplifies your Invoicing Process? How a NetSuite Custom Transaction Form is beneficial for your business NETSUITE NetSuite Expense Report Overview How to migrate from NetSuite Box V1 to Box V2? suiteactive January 28, 2020 How to create Custom Records for enhancing NetSuite functionality These days, NetSuite is considered as one of the important cloud- based business software. This integrated platform provides a single platform for managing different business processes. Many processes ARCHIVES such as resource planning, inventory managing, financial tracking, etc., are a few among them. The robust NetSuite Expense Report  May 2020 offers many advanced features and infinite benefits. As a result, April 2020 NetSuite has been turned out as the most efficient and highly March 2020 productive business software. February 2020 https://suiteactive.com.au/blog/netsuite-expense-report/ 1/8

2. 5/20/2020 I I no need for any expertise in accounting and finance, which is the best NetSuite Expense Report Complete Guide | SuiteActive January 2020 t is one of the most unique and popular features of the NetSuite NetSuite Expense Report Overview software. It facilitates expense report creation in NetSuite December 2019 without much difficulty. Anyone within the firm can easily enter the details related to the expenses in this software. There is CATEGORIES part of this software’s usage. NetSuite Procedure to create a NetSuite Expense Report NetSuite SuiteFlow SuiteApp SuiteBuilder SuiteScript Creating an expense report in NetSuite software is quite a simple task. You just need to follow a step-by-step procedure for it. Further, you as the person who incurred the actual expense, as well as on behalf of the person who incurred expenses can enter the data and create the expense report. But, you should understand an important thing before starting to create the expense report. There are two ways available for this purpose depending on one’s role in the firm’s NetSuite environment. If you are a worker with an employee-center role can access the specific form for creating the expense report. For that, you need to visit the home page and select the link of “Enter Expense Reports”. If you are a worker who does not have any employee-center role can directly access the “Expense Reports”. You just required to visit the “Transactions” tab > “Employees” option > “Enter Expense Reports”. Now, let’s move to the procedure of creating a NetSuite Expense Report. Step 1: First, visit the Setting up an expense report in NetSuite “Expense Reports” page and ensure that this specific page has defaulted the right custom form designed for your firm.  https://suiteactive.com.au/blog/netsuite-expense-report/ 2/8

3. 5/20/2020 NetSuite Expense Report Complete Guide | SuiteActive NetSuite Expense Report Overview Step 2: In the employee box, you need to select your own name or name of the staff member on whose behalf you are creating this expense report. Follow: Transactions > Employees > Enter Expense Reports. Step 3: The expense report gets generated automatically. You can customize this report as per your needs. Step 4: The posting period gets set automatically. But, it can also be changed as per the accounting period for which this report has been approved. Step 5: Even the date gets automatically settled on the present-day yet it can be adjusted as per your preference.  Step 6: In the Date Due box, you must mark the date for which your expense report is scheduled for. Step 7: Suppose, you received advances for some kinds of tasks. You need to enter the related details in the Advance to Apply box to link https://suiteactive.com.au/blog/netsuite-expense-report/ 3/8

4. 5/20/2020 NetSuite Expense Report Complete Guide | SuiteActive them with your expense reimbursement. NetSuite Expense Report Overview Step 8: Then in the purpose box, enter a brief explanation stating the reason for creating this report Step 9: The Complete box mark gets checked automatically. In case, you are planning to modify the contents of this report in the future then unmark it without missing. It is an important step, since the expense reports marked with Complete status are only routed for processing. Step 10: In case, your account is enabled with the multicurrency feature, then mark the box of Use Multi-Currency to enter foreign currencies. Step 11: Now, enter all the expenses one-by-one as per the form’s format. In Ref. No field, the number 1 automatically appears for the first item Mark the date related to that expense (first item) in the date column Label the category for this expense under the Category column In case, this expense is in a foreign currency then enter this amount in the Foreign Amount box Also, mark the currency linked with this expense amount Further, enter the current exchange rate in the next “Exchange Rate” tab In case, if you referring to the local currency, then directly enter the expense amount in the related column  If there is any specific note required to note for this expense then mention it in the memo column You can also enter the allied departments and locations in corresponding columns https://suiteactive.com.au/blog/netsuite-expense-report/ 4/8

5. 5/20/2020 NetSuite Expense Report Complete Guide | SuiteActive In case, this expense is concerned with any specific customer then NetSuite Expense Report Overview mention its name or number in customer column In the case of NetSuite OneWorld, you can also select any of the subsidiary options from the subsidiary column Further, if this expense is chargeable to any particular customer then mark it in Billable column Then, upload the receipt related to the particular expense in the Attach File column. You can attach many receipts by selecting the “New” option every time If this particular item is not reimbursable then mark on Non- Reimbursable box Also, if you attached any receipt then don’t forget to mark the Receipt box  Step 12: Now, hit the “Add” option to add a new expense to the expense report https://suiteactive.com.au/blog/netsuite-expense-report/ 5/8

6. 5/20/2020 NetSuite Expense Report Complete Guide | SuiteActive Step 13: Repeat the entire Step-11 without missing any of the fields NetSuite Expense Report Overview Step 14: After completing entering the details related to all the expense then mark the “Save” option. Further, in case you are a supervisor who has been assigned to approve an expense report, then mark the box named Supervisor Approval after you were satisfied with the contents of the report. It will mark the approval of the expense report. Besides, if you are entitled to approve accounting transactions then mark the Accounting Approval box. It indicates that this particular report has been checked, approved, and ready-to-be-paid. Note: The total expense will remain as an unapproved expense until it gets approval since it does not hold any accounting impact. Once it gets approved, then the expense report will be created as per the firm’s norms. As viewed in the above steps, creating an expense report is not much difficult and can be done by any person within the firm. Therefore, try once the NetSuite Expense Report feature for your creating your firm’s Expense Report without putting much effort. If you want more information about this topic and NetSuite then connect our NetSuite Developer at info@suiteactive.com.au or call +61 480.016.233 CATEGORY: NETSUITE suiteactive  Posts created 22 https://suiteactive.com.au/blog/netsuite-expense-report/ 6/8

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8. 5/20/2020 NetSuite Expense Report Complete Guide | SuiteActive NetSuite Expense Report Overview NetSuite 16, 2020 April NetSuite 10, 2020 April NetSuite 2020 April 3, NetSuite 23, 2020 March A complete guide on NetSuite Custom Fields NetSuite 2020, A Version Deriving Better Business Results Make best of eCommerce investment with NetSuite SuiteCommerce How to Create NetSuite Workflow Action Script Copyright 2020 All Right Reserved. Theme By ThemeGrill. Proudly powered by WordPress  https://suiteactive.com.au/blog/netsuite-expense-report/ 8/8