Netsuite is one of the world’s leaders in accounting software. Cryptio allows you to push transaction data automatically, saving both time and money in the accounting process.

Why is this important?

• It's the right method if you want to have in your accounting system a journal entry per transaction.
• It's the most automated method. No manual spreadsheet is needed. You can use our direct Netsuite integrations.
• You won't need to do any reconciliation within your accounting system.

This article summarises the end-to-end workflow related to syncing transactions to Netsuite and any troubleshooting you might face on the way. Use the table of content to navigate to the section most relevant to you.

Table of content

Cryptio Inteface
- Pre-sync: Connecting your netsuite account with Cryptio
- Syncing requirements
- Steps to sync your transactions
- Troubleshoot syncing error

Netsuite platform
- Locating trasactions in Netsuite

Cryptio interface

Pre-sync: Connecting your Netsuite account with Cryptio

1. Connect your Netsuite account with Cryptio. Check out this article [link], if you haven’t done it yet.

2. Once the connection is established between the two systems, you will see the imported Chart of account in Cryptio in the Accounting > Chart of Accounts and click on View imported CoA. 👇

   

   To check your Chart of Accounts in Netsuite, navigate to Reports > Recent Reports > Chart of Accounts or

   

3. Now you are ready to map your transactions to the chart of accounts. For more information, check out how to Map your Chart of Accounts in Cryptio.

Syncing requirements

For transactions to successfully sync to Netsuite it needs to meet certain requirements:

• Default accounts have been mapped (Gains/Losses & Fees)
• The transaction is balanced (Asset account & PnL account mapped). For trades, there are two asset accounts.
• There are no missing prices (if there are let us know!)

In order for the transactions to make sense in your main ledger you want to have the following details attached to the transaction:

• Appropriate name of your source (wallet/exchange)
• Counterparty identified
• Transactions Labelled (and notes added where applicable)

Steps to sync your transactions

Step 1: Make sure the Cost Basis is updated

Check whether you have a warning next to your workspace saying you need to Update the Cost Basis! You can do this by clicking on the Update cost basis button on the Transactions page.

Step 2: Double-check the transactions are balanced

• Navigate to the Ready to be synced tab under Needs review. With Cryptio’s ‘Need review’ view within the Transaction page, it is easier than ever to know you have completed your mapping correctly and the transactions are ready for syncing with ERP systems.
• Review transactions by clicking on any transaction and check in the pop-up window if the automated Chart of Accounts mapping is mapped to the correct accounts.
• You can repeat the process above to all your transactions or pick and choose certain ones using filters.

Step 3: Select the transactions you want to sync

• In the Needs review page, select all or individual transactions that you would like to sync to Netsuite.
• To find the individual transactions easier, you can also add further filters on top of the current view by selecting the Filters button and:
  • Syncing all transactions with a particular Label (i.e. Salary)
  • Syncing all transactions within a particular time frame

Step 4: Push your transactions to Netsuite

• Once selecting the transactions on the right-hand a Synchronize x transaction with NetSuite will show up.

• Under the Sync column, an hourglass will appear. If the transaction is:

  • Successful - It will disappear from the Need review section. You can see it in the general Transactions view and a green tick ✔️ will show at the end of it.
  • Not successful - a red information icon ℹ️ will appear.

  

Troubleshoot syncing error

1. You have tried syncing your transaction and the red information mark shows up.

2. Click on the transaction and scroll to the bottom of the pop-up page.

3. In the Synchronization status, you can read the following messages, ‘An error occurred during the synchronization and the reason:

   • "Mismatched transaction values".
   • "Error while accessing a resource. The transaction date you specified is not within the date range of your accounting period."
   • "Invalid journal".
   • "Missing credited/debited account". Book this transaction? Contact us
   • "Error while accessing a resource. This record already exists."

     • Solution: Remove the journal entry from the Netsuite manually (Make Journal entry > List > Find transaction > Edit) and resync the transaction from Cryptio with the updated information.

       

4. Try to understand the issue and adjust your calculation, pricing, and/or mapping according to the reason. If you are facing any challenges, reach out to the customer support team.

Netsuite platform

Locating these transactions in Netsuite

• Log-in to your Netsuite account
• Select Transactions from the navigation bar > Financial > Make Journal Entries > List
• This page will show you the full list of synced transactions from your Cryptio sub-ledger to your main ledger as journal entries.
• To see the details of the individual journal entries, select View at the beginning of the line.