NetSuite Period Close Automation: Setup & Best Practices (2026 Guide)

You went live on NetSuite. The consultants promised streamlined financials. But here you are on day 7 of close, still chasing unapproved journal entries and reconciling bank accounts in spreadsheets.

Your controller is working nights. Your staff accountants are drowning in manual accruals. And your CFO just asked why close takes longer now than it did before NetSuite.

The consultants are gone. The support tickets go unanswered. And nobody told you that go-live doesn't mean ready to close efficiently.

Here's what happened: Implementation focused on getting transactions into the system. 

Not on automating the monthly grind. Not on building workflows that eliminate approval bottlenecks. Not on setting up the amortization schedules, depreciation runs, and elimination rules that turn 10-day close into 3-day close.

This isn't a feature gap. NetSuite has every automation capability you need. Most companies just never turn them on.

This guide walks through the actual automation inside NetSuite that cuts close time in half. The specific workflows, scheduled processes, and exception reports that eliminate manual bottlenecks. 

You'll see what to automate first, how to set it up, and what realistic timelines look like.

Let's fix your close.
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Why Does Month-End Close Still Take So Long? (And What Automation Actually Fixes)

Close shouldn't be a monthly crisis. But for most finance teams, it is.

The implementation team set up your chart of accounts. They configured your subsidiaries. They loaded your opening balances. Then they left. And you discovered that none of the automation that makes close efficient was actually built.
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The implementation-to-reality gap

Go-live focused on transaction processing. Can users create sales orders? Post invoices? Process payments? Yes. Great. 

But close isn't about processing transactions. Close is about finalizing them. Reconciling them. Consolidating them. 

That's where the manual work lives.

Your team manually posts recurring journal entries for rent, insurance, and subscriptions every single month. 

• Someone runs depreciation calculations in Excel and manually creates the JE. 
• Your AR specialist matches bank transactions one by one because auto-match rules were never configured. 
• And your controller chases approvals via email because approval workflows don't exist.
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What automation actually means in NetSuite

Not scheduled reports. Not dashboards. Not saved searches that still require someone to review and act.

Real automation means:

• Recurring journal entries that post themselves. 
• Depreciation that runs automatically on day 1. 
• Amortization schedules that recognize revenue without human intervention. 
• Approval workflows that route, remind, and escalate without emails.

That's what cuts close time. Not better reports. Better processes.

The hidden manual work

Close delays happen in the gaps. 

• Waiting for the manager to approve that expense report.
• Investigating why the bank reconciliation doesn't tie. 
• Hunting down the source of the intercompany imbalance. 
• Manually calculating accrued expenses because nobody set up reversing entry templates.

This work compounds. Miss day 3 and you're working the weekend to hit day 5. Miss day 5 and the board meeting gets delayed. Miss the board meeting and decisions get postponed.
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Why close delays compound

Finance operates on a timeline. Board meetings, investor calls, lender covenants, management reviews. Every day of delay cascades downstream.

Your CFO can't present results. Leadership can't make informed decisions. Strategic planning waits. And your team burns credibility every time you miss the target.
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The cost of manual close

Let's do the math. 

Four people spending 60 hours each per month on close. That's 240 hours. Multiply by loaded hourly rate (let's say $75). You're spending $18,000 per month on close. $216,000 per year. And that's just the direct cost.

The opportunity cost is higher. What could your senior accountants do with an extra 30 hours per month? Build better forecasts. Analyze margin trends. Support business decisions. Partner with operations on cost reduction. That's the work that actually moves the business forward.

One distribution company reduced close from 10 days to 4 days by automating accruals, depreciation, and intercompany eliminations. 

That freed 120+ hours per quarter for FP&A work. The ROI case built itself.
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What Are the Warning Signs Your Close Process Is Broken?

Close delays don't happen suddenly. They accumulate. Here's how to spot systemic problems before they derail your quarter-end.

1. Close timeline creeping. Three days became five. Then seven. Now you're hitting day 10 regularly. If your close takes longer every quarter, you have process debt accumulating. Manual workarounds multiply. Exception handling becomes the rule.
2. Same errors every month. Unapproved expenses reappearing. Missing accruals for the same vendors. Incorrect revenue recognition on the same contract types. Recurring errors signal missing controls, not bad accountants.
3. Manual workarounds everywhere. Excel reconciliations because the NetSuite report "doesn't quite work." Email approval chains because the workflow "never got set up." Post-close adjustments because "we'll fix it after we send the reports." Workarounds are symptoms. The disease is missing automation.
4. One person knows everything. If your controller leaves and close stops, you have knowledge dependency. Institutional knowledge shouldn't live in someone's head. It should live in documented workflows, automated processes, and exception reports that anyone can run.
5. Post-close journal entries. Twenty JEs posted after financials go out signals one of two problems: either you're rushing close to hit a deadline (and sacrificing accuracy), or you're discovering errors after the fact (and don't have pre-close validation). Neither is good.
6. Audit prep equals panic. Scrambling to find support for last quarter's entries means your close documentation is inadequate. If you can't quickly pull the backup for any JE, you don't have audit-ready close processes.

The "we'll automate it later" trap is real. Later never comes. Manual workarounds become permanent. Someone gets good at the manual process and defending it becomes easier than fixing it. 

That's how you end up on day 10 of close wondering how you got here.

When manual workarounds become permanent processes, they calcify. The team builds muscle memory around them. New hires learn them. They become "the way we do things." Breaking that cycle requires intentional process redesign. Not just training. Actual automation.

One healthcare client had 40+ post-close journal entries per quarter because periods weren't locked and anyone could post after financials went out. They implemented lock discipline and reduced to 5 adjustments per quarter. Only true errors. Not laziness or missed entries.
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What Can Actually Be Automated in NetSuite's Month-End Close?

NetSuite has native automation features most companies never use. Here's what you can actually automate, not just schedule.
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Category 1: Scheduled processes (set it and forget it)

• Revenue recognition and amortization schedules. The ARM (Advanced Revenue Management) module automates deferred revenue recognition based on contract terms. Straight-line, milestone-based, usage-based. Configure once. Runs automatically every month. Eliminates manual spreadsheet calculations.
• Fixed asset depreciation runs. Configure depreciation methods and asset classes once. Run depreciation automatically on day 1 of close via scheduled script or workflow. No more Excel calculations. No more manual JE entry.
• Foreign currency revaluation. If you operate in multiple currencies (OneWorld), revaluation runs automatically at month-end. Updates unrealized gain/loss accounts based on current exchange rates. Critical for accurate consolidated financials.
• Recurring journal entries. Rent, insurance, subscriptions, allocated overhead. Anything that repeats monthly with the same accounts and amounts. Configure the template once. Set the posting schedule. Done. Posts automatically without human intervention.
• Intercompany eliminations. OneWorld feature that automatically eliminates intercompany revenue, COGS, payables, and receivables during consolidation. Configure elimination rules once. Runs every close. Saves hours of manual matching and JE creation.
• Multi-book accounting sync. If you maintain multiple books (primary GAAP, secondary tax or stat), sync rules automate the adjustment entries. Post to primary book, adjustments flow automatically to secondary books.
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Category 2: Workflow automation (reduce approval bottlenecks)

• SuiteFlow approval routing. Expense reports, journal entries, purchase orders. Define approval paths based on amount, department, or account. Route automatically. No more email chains asking "did you approve this?"
• Automated reminders for unapproved transactions. Workflow sends reminder emails after 24 or 48 hours. Escalates to manager if still unapproved after 72 hours. Eliminates "I forgot to approve" delays.
• Task assignments with due dates. Assign close tasks to specific people with due dates. Track completion. Flag overdue tasks. Makes close accountability visible.
• Escalation workflows for overdue approvals. If expense report sits unapproved for 3 days, escalate to department head. If still unapproved after 5 days, escalate to controller. Prevents one person from blocking close.
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Category 3: Data quality automation (catch errors before close)

• Bank feed auto-matching rules. Configure rules that auto-match routine transactions: payroll ACH, recurring vendor payments, subscription charges. Reduces bank rec from 6 hours to 1 hour. Manual review only for exceptions.
• Exception reports flagging close blockers. Saved searches that run automatically and email results: unapproved JEs older than 3 days, transactions missing GL impacts, customers with incorrect payment terms, items with negative inventory.
• Scheduled scripts running validation checks. Custom scripts that validate data quality: Do all invoices have revenue recognition schedules? Do all fixed assets have depreciation schedules? Are all intercompany transactions balanced? Email finance team if validation fails.
• Saved searches catching data errors. Transactions posted to wrong period. Invoices missing tax codes. Bills without GL coding. Catch these during the month, not during close.
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What you can't automate (and shouldn't)

• Reconciliation judgment calls. Is this unmatched bank transaction a timing difference or an error? That requires human judgment.
• Unusual transaction investigations. Why did this customer pay half their invoice? What's this wire transfer for? These need context and investigation.
• Variance analysis and explanations. Revenue up 15% month-over-month. Why? That's a business question, not a technical one.
• Management commentary on results. What do these numbers mean for the business? What actions should we take? That's strategy, not automation.

Automation handles the predictable 80%. The repetitive monthly tasks that don't change. The data quality checks that flag exceptions. The approval routing that eliminates delays.

The other 20% requires human judgment, business context, and strategic thinking. That's where your team should spend their time. Not on posting rent JEs for the 47th month in a row.
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How to Build a Month-End Close Automation Strategy (Pre-Close vs. Close vs. Post-Close)

Automation without strategy creates automated chaos. Here's how to sequence your close automation across three phases.
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Phase 1: Pre-close (days 25-30 of month)

Goal: Enter close with clean data and minimal surprises.

What to automate:

• Data quality exception reports running daily
• Approval reminder workflows for unapproved transactions
• Accrual JE templates ready for posting
• Subledger reconciliation reports auto-generating

What stays manual:

• Investigating flagged exceptions
• Communicating with department heads about unusual transactions
• Reviewing open accruals for accuracy
• Confirming all capex has been added to fixed asset register

The pre-close phase is your insurance policy. Find problems now when you have time to fix them. Not on day 2 of close when you're racing the deadline.

One wholesale client implemented daily exception reports starting on day 25 of the month. Their controller reviewed them each morning (15 minutes). 

By day 1 of close, 90% of potential issues were already resolved. Close went from 8 days to 4 days.
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Phase 2: Close (days 1-3 of new month)

Goal: Process standard close tasks, reconcile accounts, finalize numbers.

What to automate:

• Fixed asset depreciation runs on day 1
• Revenue and expense amortization processing
• Foreign currency revaluation calculations
• Recurring journal entries posting automatically
• Intercompany elimination scripts running
• Multi-book sync executing

What stays manual:

• Bank reconciliation (with auto-match assistance)
• Reviewing system-generated JEs for anomalies
• Variance analysis against budget and forecast
• Consolidation review and management signoff
• Creating one-off close adjustments (bad debt, reserves, reclasses)

The close phase is where automation shows its value. Tasks that used to take hours now take minutes. Your team reviews outputs instead of creating inputs.
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Phase 3: Post-close (days 4-5)

Goal: Lock periods, archive documentation, report results, improve process.

What to automate:

• Period locking workflow with approval gates
• Close task completion tracking and reporting
• Close metrics dashboard updating (days to close, JE counts, exception volumes)
• Archive checklist auto-generating

What stays manual:

• Post-close review meeting with finance team
• Documenting what broke and what worked
• Updating close procedures for next month
• Archiving reconciliation support and JE backup

The post-close phase closes the loop. You're not just finishing this month's close. You're improving next month's.
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The framework: Automate, standardize, document

One BPO client mapped their entire close process across these three phases. 

They identified 15 tasks that could be fully automated, 8 that could be standardized, and 5 that required custom judgment each month. 

Six months later, their close went from 12 days to 5 days. Next target: 4 days.
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What Should Your NetSuite Period Close Checklist Include?

A checklist without automation is just a to-do list. Here's what belongs in each phase, with clear automation opportunities.
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Pre-Close Tasks (Days 25-30): Data quality and prep

These tasks happen before close officially starts. The goal is to catch errors while there's still time to fix them without delaying close.

1. Run data quality exception reports

• Check: Unapproved transactions (expenses, JEs, bills, POs)
• Check: Transactions missing GL impacts or tax codes
• Check: Open accounting periods with no activity
• Automate: Saved searches with daily email alerts to transaction owners and their managers
• Why: Catch errors while there's time to fix them, not during close crunch

2. Trigger approval reminder workflows

• Check: Outstanding expense reports, journal entries, purchase orders awaiting approval
• Automate: SuiteFlow workflows sending reminders after 24 hours, escalating to managers after 48 hours
• Why: Eliminates "I forgot to approve" delays that push close to day 5+

3. Review open accruals and prepayments

• Check: Monthly recurring accruals (rent, utilities, insurance, legal fees)
• Check: Prepaid expenses requiring monthly amortization
• Automate: Recurring JE templates posting automatically on last day of month
• Manual: Review amounts for changes (rent increase, new insurance policy)

4. Validate subledger balances tie to GL

• Check: AR aging total matches AR control account
• Check: AP aging total matches AP control account
• Check: Inventory valuation report matches inventory GL accounts
• Automate: Reconciliation reports running automatically, flagging discrepancies >$100
• Manual: Investigate why discrepancies exist, post correcting entries

5. Confirm fixed asset schedule is current

• Check: All capital purchases added to fixed asset register
• Check: Disposals and retirements processed
• Check: Depreciation schedules accurate (useful life, salvage value, method)
• Automate: Depreciation calculation (runs on day 1)
• Manual: Review new assets for proper classification, verify disposal documentation
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Close Tasks (Days 1-3): Processing and reconciliation

These are the core close tasks. Most should be automated. Manual work focuses on review, investigation, and approval.

6. Run automated close processes

• Automate: Fixed asset depreciation run
• Automate: Revenue recognition and expense amortization (ARM module)
• Automate: Foreign currency revaluation (OneWorld)
• Automate: Intercompany elimination scripts
• Verify: Review system-generated journal entries for anomalies (unusual amounts, wrong accounts)

7. Post recurring journal entries

• Automate: Rent, insurance, subscriptions, allocated overhead via recurring JE templates
• Manual: One-off accruals (legal settlement, warranty reserve adjustment, bad debt expense)
• Approve: Controller review and approval for non-routine entries

8. Reconcile bank and credit card accounts

• Automate: Bank feed auto-match for routine transactions (payroll, vendor ACH, subscriptions)
• Manual: Review unmatched items, research discrepancies, post correcting entries
• Target: 80% of transactions auto-matched, 20% requiring manual review

9. Review and approve close-specific journal entries

• Manual: Staff accountant creates close adjustments (bad debt, inventory obsolescence, reclasses)
• Automate: Approval workflow routes to senior accountant, then controller based on amount thresholds
• Document: Business justification and supporting docs attached to each JE

10. Eliminate intercompany transactions (OneWorld only)

• Automate: Intercompany elimination rules for standard transactions (intercompany sales, COGS, payables, receivables)
• Manual: Validate eliminations balanced (elimination JE debits equal credits)
• Manual: Investigate any unbalanced intercompany accounts, post correcting entries

11. Run consolidation and finalize financials

• Manual: Review P&L by department/subsidiary for unusual variances
• Manual: Review balance sheet for unexpected changes
• Manual: Review cash flow statement for accuracy
• Automate: Variance reports comparing actuals to budget, forecast, and prior year

12. Execute multi-book sync (if applicable)

• Automate: Sync primary and secondary books (tax book, stat book, local GAAP)
• Verify: Differences between books are expected and documented
• Manual: Review tax adjustments for accuracy, ensure depreciation differences are correct
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Post-Close Tasks (Days 4-5): Review, lock, and report

These tasks finalize the close and set up for next month. Period locking prevents post-close chaos. Post-close review drives continuous improvement.

13. Lock accounting period

• Manual: Controller reviews financials one final time, confirms no additional adjustments needed
• Manual: Navigate to Setup > Accounting > Manage Accounting Periods, change status to "Closed"
• Manual: Set closing date password (only admins can reopen)
• Why: Prevents accidental postings to closed month, maintains audit trail integrity

14. Archive close documentation

• Manual: Save reconciliations (bank, AR, AP, inventory, intercompany)
• Manual: Save supporting docs for all close journal entries
• Manual: Save variance analysis explanations
• Automate: Period close checklist completion report auto-generating with task status

15. Conduct post-close review

• Manual: Finance team debrief (30-60 minutes)
• Discuss: What broke this month? What took longer than expected? What can be automated?
• Document: Process improvements for next month
• Automate: Close metrics dashboard showing trends (days to close, JE counts by type, exception volumes, post-close adjustments)

One telecom client built a close metrics dashboard tracking 8 KPIs month-over-month: days to close, hours spent per person, number of post-close JEs, approval delays, bank rec time, exception report volumes, and subledger reconciliation discrepancies. 

CFO reviewed it quarterly. Close time dropped 40% in one year because problems became visible and measurable.
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How to Automate the 12 Most Time-Consuming Close Tasks

These twelve tasks consume 70-80% of close time. Automate them and you've cut your close in half.
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Task 1: Automated journal entries and recurring templates

Setup: Customization > Accounting > Journal Entries > Recurring Journal Entries

Configure:

• Select accounts (debit and credit)
• Enter amounts (or formulas if amounts change monthly)
• Set frequency (monthly, quarterly, annually)
• Set start date and end date (or leave open-ended)
• Enable approval workflow if amounts exceed threshold

Schedule: Choose posting schedule (last day of month, first day of new month, specific day)

Case study: Real estate client automated rent JEs across 15 subsidiary entities. Each entity had 3-5 recurring JEs (base rent, CAM charges, property tax allocation). That's 60+ JEs per month. 

Automation saved 8 hours per month. Controller now reviews the JEs in 30 minutes instead of creating them.
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Task 2: Revenue and expense amortization (ARM module)

Setup: Enable Advanced Revenue Management (ARM) for revenue or Advanced Expense Amortization for prepaid expenses

Configure:

• Define recognition rules (straight-line, milestone-based, usage-based)
• Link rules to revenue accounts or expense accounts
• Set recognition start and end dates based on contract terms
• Map to appropriate GL accounts (deferred revenue, recognized revenue)

Schedule: Run amortization automatically on day 1 of close via scheduled workflow or script

Why: Eliminates manual spreadsheet tracking of deferred revenue and prepaid expenses. Critical for SaaS companies, subscription businesses, and anyone with multi-period contracts.

Example: SaaS company sells annual contracts. Customer pays $12,000 upfront. ARM automatically recognizes $1,000/month for 12 months. No manual intervention. No chance of forgetting to recognize revenue. Audit-ready from day one.
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Task 3: Fixed asset depreciation runs

Setup: Lists > Accounting > Fixed Assets > Assets (ensure all assets are entered)

Configure:

• Set depreciation method for each asset class (straight-line, declining balance, units of production)
• Define useful life and salvage value
• Assign assets to appropriate GL accounts (asset account, accumulated depreciation, depreciation expense)

Schedule: Setup > Accounting > Accounting Preferences > Fixed Assets > check "Automatically Run Depreciation" or create scheduled script to run depreciation on day 1

Verify: Review depreciation journal entry for new assets, disposals, or changes in useful life

Why: Manual depreciation calculations in Excel are error-prone and time-consuming. NetSuite calculates depreciation for hundreds of assets in seconds.
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Task 4: Intercompany eliminations (OneWorld only)

Setup: Setup > Company > OneWorld > Intercompany > Elimination Rules

Configure:

• Define elimination accounts for intercompany revenue and COGS
• Define elimination accounts for intercompany payables and receivables
• Set elimination rules to fire during consolidation
• Map intercompany trading partners (which subsidiaries transact with each other)

Automate: Eliminations run automatically as part of consolidated financial statement generation

Verify: Review elimination journal entry, ensure debits equal credits, investigate any unbalanced intercompany accounts

Case study: Telecom client with 8 subsidiaries spending 12 hours per month manually matching and eliminating intercompany transactions. 

After automation setup (one-time 4-hour project), eliminations run in 5 minutes. Controller reviews output in 30 minutes. Net savings: 11 hours per month.
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Task 5: Foreign currency revaluation

Setup: Setup > Company > Enable Features > Multi-Currency (OneWorld accounts only)

Configure:

• Define exchange rate sources (manual entry or automated feed from currency provider)
• Set revaluation accounts (unrealized gain/loss on AR, AP, cash)
• Define revaluation frequency (monthly, quarterly)

Schedule: Setup > Accounting > Accounting Preferences > Multi-Currency > check "Automatically Revalue Foreign Currency Balances"

Why: Ensures foreign currency balances reflect current exchange rates at month-end. Required for GAAP compliance. Manual calculations are tedious and error-prone.
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Task 6: Bank reconciliation and auto-match rules

Setup: Setup > Accounting > Bank Feeds (if your bank is supported) or use CSV import automation

Configure auto-match rules:

• Payroll ACH: match by amount and date, always match to payroll clearing account
• Recurring vendor payments: match by vendor name or amount pattern
• Customer payments: match by customer name, invoice number, or amount
• Subscription charges: match by payee name and amount

Manual review: Unmatched items, unusual transactions, large amounts requiring investigation

Impact: Reduces bank reconciliation time by 60-80%. Senior accountant went from 6 hours per bank account to 1.5 hours. Freed up 18 hours per month across 4 bank accounts.
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Task 7: Accruals and reversing entries

Setup: Create journal entry templates for common accruals

Configure:

• Check "Reversing Entry" box on JE form
• Set reversal date to first day of next period
• Post accrual on last day of month

Result: Accrual posts at month-end, automatically reverses on day 1 of new month

Common accruals:

• Unbilled revenue (services provided but not yet invoiced)
• Accrued expenses (bills received after month-end for services in current month)
• Accrued payroll (payroll period spans month-end)
• Accrued interest (loan interest not yet paid)

Why: Eliminates manual tracking of which accruals need to reverse. System does it automatically.
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Task 8: SuiteFlow approval workflows and reminders

Setup: Customization > Workflow > Workflows > New

Configure approval routing:

• Employee submits expense report → Manager approves → Controller approves (if >$1,000)
• Staff accountant creates JE → Senior accountant approves → Controller approves (if >$5,000)
• Department manager creates purchase requisition → CFO approves (if >$10,000)

Add reminder actions:

• Wait 24 hours after submission → Send reminder email to approver
• Wait 48 hours → Send escalation email to approver's manager
• Wait 72 hours → Send alert to controller

Why: Eliminates "I forgot to approve" delays. Makes approval status visible (no more "did you approve that?" emails).
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Task 9: Scheduled scripts for close validation

Setup: Customization > Scripting > Scripts > New > Scheduled Script

Use cases:

• Flag unapproved journal entries older than 3 days, email finance team
• Check for transactions missing GL impacts, email accounting manager
• Validate all invoices have revenue recognition schedules, email controller if not
• Check for items with negative inventory, email warehouse manager
• Verify all fixed assets have depreciation schedules, email accounting team if missing

Schedule: Run daily during close window (days 25-5), email results each morning

Why: Proactive error detection. Find problems before they delay close.
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Task 10: Period close task management and dashboards

Setup: Use NetSuite Tasks (Lists > Tasks) or build custom dashboard

Configure:

• Create task list with close activities (run depreciation, reconcile bank accounts, post accruals)
• Assign each task to specific person
• Set due dates (day 1, day 2, day 3 of close)
• Track status (not started, in progress, completed)

Dashboard: Build portlet showing task completion percentage, overdue tasks, bottlenecks

Why: Makes close progress visible to entire team. Controller knows immediately if close is on track or falling behind.
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Task 11: Multi-book accounting sync

Setup: Setup > Company > Enable Features > Accounting > Multi-Book Accounting

Configure:

• Define primary book (typically US GAAP)
• Define secondary books (tax book, stat book, local GAAP for subsidiaries)
• Set up adjustment accounts for differences between books (depreciation, revenue recognition, inventory valuation)

Automate: Sync rules ensure transactions post to all books simultaneously, adjustments post automatically

Why: Maintains multiple accounting standards without duplicate data entry. Critical for public companies (tax vs GAAP) and global companies (local GAAP requirements).
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Task 12: Data quality checks and exception reports

Setup: Reports > Saved Searches > New

Build exception reports:

• Transactions posted to closed periods (shouldn't happen if periods are locked)
• Transactions with no GL impact (missing account assignments)
• Items with negative inventory (inventory tracking errors)
• Customers with incorrect payment terms (credit terms don't match contract)
• Vendors with duplicate records (need to merge)
• Journal entries missing supporting documentation (no attachment or memo)

Schedule: Run daily starting day 25 of month, email results to finance team

Why: Pre-close data quality checks mean fewer surprises during close.
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How to Set Up Role-Based Close Workflows in NetSuite

Close is a team sport. Role-based workflows ensure everyone knows their part and nobody blocks the process.
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Role 1: Staff accountant

Staff accountants handle routine close tasks under supervision. They need enough access to do their work but require approval for anything that impacts financials.

Close responsibilities:

• Post recurring journal entries (or verify auto-posting worked)
• Reconcile bank and credit card accounts
• Review AR and AP aging reports
• Create close accrual journal entries
• Assist with fixed asset additions and disposals

NetSuite access:

• Create and edit journal entries (requires approval for posting)
• Access to bank reconciliation module
• View-only access to AR and AP records
• Run standard financial reports

Workflow integration:

• Creates JEs, workflow routes to senior accountant for approval
• Flags reconciliation discrepancies, senior accountant investigates
• Completes assigned close tasks, marks complete in task list
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Role 2: Senior accountant

Senior accountants approve routine work and handle complex investigations. They have broader access but still need controller approval for large or unusual items.

Close responsibilities:

• Approve staff accountant journal entries (up to $5,000)
• Investigate complex reconciliation discrepancies
• Prepare consolidation workpapers
• Review subledger to GL reconciliations
• Create adjusting entries for unusual items

NetSuite access:

• Approve journal entries up to $5,000
• Edit access to all GL accounts
• Access to all subsidiaries (if OneWorld)
• Run advanced financial reports and saved searches

Workflow integration:

• Receives JE approval requests from staff accountants
• Escalates large JEs (>$5,000) to controller
• Reviews exception reports, assigns investigation tasks to staff accountants
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Role 3: Controller

Controller has final responsibility for close accuracy and timing. They approve all unusual items and lock periods after review.

Close responsibilities:

• Final review of consolidated financial statements
• Approve all close journal entries
• Lock accounting periods after close complete
• Sign off on financials for CFO and board
• Manage close timeline and resolve bottlenecks

NetSuite access:

• Approve all journal entries regardless of amount
• Lock and unlock accounting periods
• Access to all subsidiaries and all accounting functions
• Full administrative access to close-related features

Workflow integration:

• Receives approval requests for JEs >$5,000 or unusual items
• Reviews close task completion dashboard, follows up on overdue tasks
• Locks period after final review complete
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Role 4: AR/AP specialist

AR/AP specialists close the subledgers before general ledger close begins. Their work must be complete and accurate by day 1 of close.

Close responsibilities:

• Ensure all invoices and bills are posted and approved
• Apply customer payments and vendor payments
• Clear aging report of discrepancies
• Provide subledger aging reports for GL reconciliation

NetSuite access:

• Create and edit invoices, bills, payments
• Access to customer and vendor records
• View-only access to GL (can't post journal entries)
• Run AR and AP reports

Workflow integration:

• Works with staff accountant to resolve subledger to GL discrepancies
• Flags unusual customer/vendor balances for controller review
• Completes AR/AP close tasks by day 1 of close (before general ledger close begins)

How to set this up in NetSuite:

• Go to Setup > Users/Roles > Manage Roles
• Create custom roles for each close participant
• Define permissions (create, edit, approve, view-only)
• Assign roles to users
• Build SuiteFlow workflows that route based on role (staff accountant creates, senior accountant approves, controller approves large items)

One financial services company documented their entire role-based close workflow in NetSuite. New hires could read the workflow documentation and understand their responsibilities immediately. 

When their senior accountant left unexpectedly, the staff accountant stepped in seamlessly because the workflows were documented, not tribal knowledge.
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What Happens When You Don't Lock Periods (And How to Do It Right)

Unlocked periods are an invitation for post-close chaos. Here's how to lock correctly and handle the inevitable exceptions.
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Why lock periods

Period locking maintains financial integrity and audit readiness. Without it, closed financials aren't really closed.

• Prevents accidental postings to closed months. Someone creates an invoice and accidentally dates it last month instead of this month. If the period is locked, NetSuite blocks the transaction. If it's not locked, the transaction posts and your closed financials are now wrong.
• Maintains audit trail integrity. Auditors expect closed periods to be locked. Post-close adjustments should be rare and documented. If periods aren't locked, auditors lose confidence in your financial controls.
• Forces intentional corrections. If you need to correct a closed period, you must request unlock approval from controller. That forces documentation: Why are we adjusting? What's the business justification? Who approved it? Unlocked periods bypass that discipline.
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How to lock periods in NetSuite

Period locking is simple but critical. Here's the step-by-step process.

Step 1: Go to Setup > Accounting > Manage Accounting Periods

Step 2: Select the period you want to lock (September 2025)

Step 3: Change status from "Open" to "Closed"

• "Closed" status allows posting with appropriate permissions (controller or higher)
• Users without "Close Period" permission can't post to closed periods

Step 4: (Optional) Set closing date password

• Requires password to reopen period
• Only admins have password
• Provides extra layer of protection for prior year periods

When to close vs lock:

• Close periods: After financial review complete (day 3-5 of close)
• Lock periods: After audit complete or when period is truly final (prior year periods)
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Handling post-close adjustments

Post-close adjustments should be rare exceptions, not routine. Here's the approval process that maintains control.

• Require controller approval to unlock. Don't give unlock permission to staff accountants. Only controller should be able to reopen closed periods.
• Document reason for unlock in system notes. Why are we adjusting a closed period? What error are we correcting? Include reference to supporting documentation.
• Re-lock immediately after correction posted. Don't leave periods unlocked. Post the correcting entry, verify it's correct, lock the period again same day.
• Track post-close adjustments in exception log. Build a saved search showing all journal entries posted to closed periods. Review quarterly. If you're posting 20+ adjustments per quarter, you have a process problem.

Common reasons for post-close adjustments (and how to eliminate them):

• Forgot to post an accrual → Implement pre-close checklist with accrual review
• Bank reconciliation was wrong → Improve auto-match rules, reduce manual matching errors
• Depreciation calculation error → Review fixed asset register monthly, not just at close
• Revenue recognition correction → Implement ARM module for automated recognition

Case study: Healthcare client had 40+ post-close journal entries per quarter because periods weren't locked and people could post whenever they wanted. 

They implemented period locking discipline: controller locks on day 5 of close, unlock requests require email justification. 

Post-close adjustments dropped to 5 per quarter (only true errors, not laziness or missed entries).
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The unlock request process

This documented process ensures post-close adjustments are intentional and tracked. It takes 10 minutes but forces discipline.

Step 1: Staff accountant discovers error in closed period (September)

Step 2: Staff accountant emails controller explaining:

• What's wrong (depreciation calculation error for Asset #12345)
• Why it needs correction (overstated depreciation expense by $5,000)
• Supporting documentation attached (revised depreciation schedule)

Step 3: Controller reviews request, approves or denies

Step 4: If approved, controller unlocks September period with password

Step 5: Staff accountant posts correcting journal entry

Step 6: Controller reviews JE, re-locks period same day

Step 7: Controller logs adjustment in post-close tracking spreadsheet (date, reason, amount, who requested)

This process takes 10 minutes. It forces discipline. And it gives you an audit trail showing exactly why closed periods were adjusted.
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How Often Should You Review Your Close Automation?

Automation degrades. Businesses change. Review quarterly or your close process slowly reverts to manual.
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Quarterly review (30-minute meeting)

Short quarterly reviews catch small problems before they become big delays. This meeting should happen within a week of completing quarter-end close.

Agenda:

• Which automated processes failed this quarter? Why?
• Are approval workflows still routing to correct people? (Did someone leave? Get promoted? Change departments?)
• Are exception reports still catching relevant errors? (Or are they flagging false positives nobody acts on?)
• What new manual workarounds appeared this quarter? (Workarounds signal missing automation)

Outputs:

• Update workflow routing (new approvers, new escalation paths)
• Refine exception report criteria (reduce false positives)
• Identify 1-2 new automation opportunities for next quarter

Who attends: Controller, senior accountant, accounting manager

One precious metals company held quarterly close automation reviews. 

They tracked "workarounds introduced this quarter" as a KPI. If workarounds were increasing, automation was failing. 

They used the quarterly reviews to systematically eliminate workarounds by building better automation.
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Annual review (half-day session)

Annual reviews take deeper look at the entire close process. This is where you rebuild automation that's fundamentally broken.

Agenda:

• Full close process mapping (map current state, not aspirational state)
• Interview close participants: What's still painful? What takes longest? What's most error-prone?
• Review close timeline trends (Is close getting slower? Why?)
• Identify automation opportunities (rank by impact and effort)
• Build automation roadmap for next year (3-5 automation projects, assign owners, set deadlines)

Outputs:

• Updated close process documentation
• Automation project list with priorities
• Budget request for any automation requiring external help

Who attends: CFO, controller, senior accountant, accounting manager, IT (if needed for scripting)
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Trigger-based reviews (when things break)

Some events demand immediate review, not waiting for the quarterly schedule. These trigger immediate process assessment.

• After go-live of new modules. You just implemented OneWorld for multi-subsidiary management. Close process just got more complex. Review immediately. What breaks? What needs new automation?
• After organizational changes. Your controller left. New controller has different priorities. Review close process together. What automation exists? What's missing? What would make their life easier?
• After quarter-end delays. You missed your quarter-end close deadline. Post-mortem required. What broke? Was it automation failure? Data quality? Approval delays? Lack of resources? Fix the root cause, not just the symptom.

One distribution company missed their Q2 close deadline by 4 days. They conducted a post-mortem and discovered the delay was caused by one person being on vacation (AR specialist). 

No backup. Zerp cross-training. No documentation. 

They implemented cross-training and documented the AR specialist's close tasks. Q3 close finished on time even though the same person was on vacation again.
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What's the Realistic Close Timeline After Automation?

"Close in 2 days" is the dream. Here's what's actually achievable based on company complexity.
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Benchmark timelines by company type

Realistic close timelines depend on company complexity, not just automation quality. Here's what to expect.

What prevents "1-day close"

Even with perfect automation, some factors impose unavoidable delays. Here's what prevents instantaneous close.

• Bank feeds lag 1-2 days. Transactions need to clear before they appear in your bank feed. You can't reconcile September 30th transactions on October 1st if they haven't cleared yet.
• External data dependencies. Credit card statements arrive on day 3 of the month. Vendor invoices trickle in for 3-4 days after month-end. You can accrue for missing bills, but you need to verify accruals were accurate once the actual bills arrive.
• Judgment calls require time. Reserve calculations (bad debt, inventory obsolescence, warranty liability) require analysis. Can't be rushed. Controller needs time to review trends, consult with operations, and make informed decisions.
• Subsidiary timing in global companies. Your Japan subsidiary closes at 5pm Tokyo time (3am EST). Your UK subsidiary closes at 5pm London time (12pm EST). You can't consolidate until all subsidiaries report. That's minimum day 2 before consolidation even starts.
• Management review and signoff. CFO needs time to review results, understand variances, prepare commentary. Can't be automated. Typically takes half a day even with perfect data.
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How to measure close improvement

Tracking metrics proves automation ROI and highlights areas still needing work. These four metrics tell the complete story.

Track days to close month-over-month.

• Target: Consistent 3-5 days (depending on complexity)
• Red flag: Close timeline increasing quarter-over-quarter
• Action: If close took 4 days in Q1 and 7 days in Q2, investigate what changed

Track hours spent on close by role.

• Staff accountant: Should decrease significantly after automation (60 hours → 30 hours)
• Senior accountant: Should decrease moderately (50 hours → 35 hours)
• Controller: May not decrease much (still needs review time), but quality of work changes from data entry to analysis

Track post-close adjustments.

• Target: <5 journal entries per quarter posted to closed periods
• Red flag: 20+ adjustments per quarter signals poor pre-close validation
• Action: Implement better exception reports to catch errors before close

Track close task completion on time.

• Target: 90% of close tasks completed by due date
• Red flag: 50% of tasks overdue signals resource constraints or unrealistic timeline
• Action: Adjust task assignments or timelines, add resources if needed

Case study: BPO client went from 12-day close to 5-day close in 6 months by automating depreciation, amortization, intercompany eliminations, and bank reconciliation auto-match. They tracked progress monthly. 

• Months 1-2: 11 days (minimal improvement). 
• Months 3-4: 8 days (automation starting to work). 
• Months 5-6: 5 days (full automation realized). 
• Next target: 4 days by improving subsidiary coordination.
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What "good" looks like

Here's the day-by-day breakdown of a well-automated close. Use this as your target state.

Day 1 of close:

• All automated processes run successfully (depreciation, amortization, recurring JEs, currency revaluation)
• Bank reconciliation 80% complete (only exceptions remaining)
• All subledger to GL reconciliations balanced
• Exception reports show <10 items requiring investigation

Day 2 of close:

• All close journal entries posted and approved
• Intercompany accounts balanced
• Consolidation complete (all subsidiaries reported)
• Draft financials ready for controller review

Day 3 of close:

• Controller reviews financials, variance analysis complete
• CFO reviews results, prepares management commentary
• Period locked
• Close documentation archived

Day 4-5 (if needed):

• Post-close review meeting
• Process improvement notes documented
• Metrics updated

That's achievable. Not easy. But achievable with disciplined automation and process rigor.
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Month-End Close Shouldn't Be a Monthly Crisis

NetSuite has every capability you need to automate close, but most companies never turn these features on. 

They get through implementation focused on go-live. Then they discover close is still manual. Still slow. Still painful.

If your close takes longer than it should, we can help. 

Stockton10 builds post-implementation automation for companies whose NetSuite close processes didn't scale with their growth. 

We implement the recurring journal entries, approval workflows, amortization schedules, exception reports, and period-locking discipline that should have been set up at go-live but weren't.

No rip-and-replace. No six-month projects. Just systematic automation of what's broken.

Ready to close faster? Schedule a close process assessment and we'll show you exactly where your manual bottlenecks are and which automation would cut your timeline in half.
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Frequently Asked Questions

What can be automated in NetSuite's month-end close?

Recurring journal entries, revenue/expense amortization (ARM module), fixed asset depreciation, intercompany eliminations (OneWorld), foreign currency revaluation, and approval workflows. Bank reconciliation can be partially automated with auto-match rules (typically 80% of transactions). Manual judgment work can't be automated: variance analysis, unusual transaction investigation, reserve calculations, management commentary.
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How to set up automated accruals in NetSuite?

Go to Customization > Accounting > Journal Entries > Recurring Journal Entries. Create template with debit and credit accounts. Check "Reversing Entry" box. Set posting schedule (last day of month). NetSuite posts accrual automatically, reverses it automatically on day 1 of new month. Common accruals: unbilled revenue, accrued expenses, accrued payroll, accrued interest.

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How to schedule revenue/amortization journals?

Enable Advanced Revenue Management (ARM) for revenue or Advanced Expense Amortization for prepaid expenses. Configure recognition schedules (straight-line, milestone-based, usage-based) based on contract terms. Set up scheduled workflow or script to run amortization process on day 1 of close. System generates recognition journal entries automatically each month.
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How to automate intercompany eliminations?

OneWorld feature only. Go to Setup > Company > OneWorld > Intercompany > Elimination Rules. Configure elimination accounts for intercompany revenue, COGS, payables, and receivables. Map which subsidiaries transact with each other. Eliminations run automatically during consolidation process. Review elimination journal entry to ensure debits equal credits.
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How to reduce month-end close time in NetSuite?

Automate recurring tasks (depreciation, amortization, recurring JEs, currency revaluation). Implement approval workflows to eliminate email delays. Set up pre-close exception reports to catch errors early. Configure bank reconciliation auto-match for routine transactions. Lock periods to prevent post-close rework. Target 30-50% reduction in close time within 6 months.
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How long should month-end close take?

Depends on complexity. 

Single-entity, simple operations: 2-3 days. Multi-entity, domestic: 3-5 days. Global operations (OneWorld): 5-7 days. If you're consistently over 10 days, you have systemic manual process issues. Industry benchmark (Ventana Research 2022): 53% of companies close in 6 days or less.
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What's the difference between Close and Lock a period?

"Close" status allows posting with proper permissions (controller or higher). 

"Lock" status requires password to reopen (admin only). Close periods after financial review complete (day 3-5 of close). Lock periods after audit complete or when period is truly final (prior year periods). 

Locking prevents accidental postings, maintains audit trail integrity.
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Can I automate bank reconciliation in NetSuite?

Partially. Set up bank feeds (if your bank is supported) or CSV import automation.

Configure auto-match rules for routine transactions: payroll ACH, recurring vendor payments, customer payments, subscription charges. Typically auto-matches 80% of transactions. 

Manual review still required for: unmatched items, unusual transactions, large amounts, discrepancies requiring investigation. Reduces reconciliation time by 60-80%.

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