This article explains how clients who use our NetSuite integration can create journal entries using our new bookkeeping modules.
A journal entry records debits and credits that are posted to ledger accounts.
Our module allows clients to select entities and subsidiaries, and then create journals for entries that define debits and credits
In this article:
Before You Begin:
To establish a connection, you must first generate secret tokens from NetSuite and make sure that certain features are enabled. Please see our tutorial on how to prepare your NetSuite account.
Afterward a connection is established, please see our tutorial on how to install the NetSuite integration.
What are Journal Entries?
A general journal entry simply records debits and credits that are posted to ledger accounts.
General journal entries adjust the value of any set of accounts without entering transactions such as invoices or bills.
For example, journal entries can be used to:
- Specify the opening balances for your accounts if you chose not to do it when you first created your NetSuite account for your company.
- Edit your opening balances if you find the amounts were in error.
- Enter an adjustment such as for depreciation, which is not possible as a standard transaction.
- Transfer amounts from one ledger account to another.
- Consolidate multiple subsidiary accounts into a single account for the purposes of consolidated reporting.
Journal entry transactions are not posted until they are approved.
A journal entry is posted in a period to which the journal entry approver has access.
You can enter as many lines as needed in the journal entry.
Until a journal entry is approved, NetSuite tentatively displays the posting period based on the transaction date. If the period is locked or closed, the posting period is determined by the accounting preference Default Posting Period When Transaction Date in Closed Period.
To keep your books in balance, remember the principles of double-entry bookkeeping when making entries: The total amount of debt lines must equal the total amount of credit lines.
Creating a connection between a Deel entity and Netsuite subsidiary
To create a journal entry, you will need to connect a Deel entity with a Netsuite subsidiary.
If you do not see your subsidiary listed after syncing, please check you have enabled the correct permissions from Netsuite.
Netsuite Journals bookkeeping module
This module allows you to select entities and subsidiaries, and then create journals for multiple entries that define debits and credits.
How to create a new journal entry
✅ Step 1 – Choose name and payroll cycles
Create a name for the new journal entry and select the payroll cycles you want Deel to include in the entry.
The journal will include all payslips with pay dates within the selected cycles.
✅ Step 2 – Review account mapping
Select the Netsuite accounts that are being debited or credited for each type of Deel payroll item
✅ Step 3 – Sync to NetSuite
Review your journal entry. You can click Preview to see the details of the entry before syncing it.
We will display the Total Debit and Total Credit sum as a check to ensure they are balanced.
Click Review & Sync when you are ready.