Float’s integration with NetSuite simplifies your expense management by automatically syncing your reimbursement reports to NetSuite as itemized vendor bills. Here’s how to set up the integration and understand the syncing process.
Step 1: Connecting NetSuite to Float
Begin by connecting NetSuite to Float. This can be done for both CAD and USD accounts.
Follow the steps outlined in this guide to set up the connection.
Step 2: Setting Up Your Accounts Payable & Clearing Accounts
After connecting NetSuite, go to Settings > Reimbursement Settings to configure your AP accounts. Go to Settings > Accounting Sync to configure your Clearing accounts.
- The Accounts Payable account must be the type "Accounts Payable"
- The Clearing Account must be the type "Bank" or "Credit Card".
If you don't have an AP account configured for the currency of the reimbursement being exported, you'll see a "No AP account exists for selected currency" error. Visit Settings > Reimbursement Settings to ensure an account is selected and configured according to the above requirements.
Step 3: Syncing Vendors and Configuring Banking Details
Once your NetSuite is connected to Float, all your vendors will automatically sync over. This includes any employees set up as vendors for Reimbursements, ensuring they are ready for payout.
You need to assign the requester's synced Vendor to a Reimbursement report once. After that, we automatically use that vendor for all their future Reimbursement reports.
If Spenders are not already Vendors in your NetSuite, you can easily create them as Vendors directly in Float. For more details, please view this guide.
Please Note: User bank details must be configured in Float in advance for direct payouts. We support direct payouts in CAD & USD only. For more details on this, please view this guide.
Step 4: Exporting Reimbursements to NetSuite
Once a Reimbursement report has been approved, it follows this workflow for exporting to NetSuite:
- Approved reports move to the “Ready to Review” section in the Reimbursements tab
- You can review and update the report to ensure it’s correctly coded (e.g., GL Codes, Custom Fields, Tax Codes and Vendors) to ensure a successful export
- You can choose to Review and Export from this stage if you'd like, or follow the steps below to export from the "Unpaid" tab
- Exporting from this stage will create an unpaid bill itemized bill in your NetSuite
- Once a report is reviewed, click "Confirm Ready" in the top-right corner and the report moves to the "Unpaid" tab
- Once in the Unpaid tab, you can "Export as Unpaid" to NetSuite. This will create an unpaid itemized bill in your NetSuite
- In the Unpaid tab, you can schedule the Reimbursement payment and authorize the release of funds or "Mark as Paid" and pay it outside of Float. For more information on Reimbursements payments, please view this guide
- For more information on marking reports as paid, please see the "Exporting Options" section below
- Once a report has a payment scheduled through Float, it moves to the Payments tab
- When the Reimbursement is paid through Float, the report will be marked as paid in Float, move to the All Reports tab, and the corresponding itemized bill in NetSuite will be marked as paid.
Exporting Options:
From the "Ready to Review" Tab:
- Checking the box: Check the box for one or more Reimbursement reports that are ready for export, then click the “Export and Review” button.
- Overflow Menu: Use the three dots on the right-hand side to access “Export and Review”.
- Within the Report: You can also export directly from within the report using the “Export and Review” button.
From the "Unpaid" Tab:
- Use any of the options above, but click "Export" - this will export an unpaid bill to your NetSuite.
Marking a Report as Paid:
- If you are paying a Reimbursement outside of Float, you can mark a report as paid within Float by following the instructions in this article
Important Notes on Exporting Reimbursements:
- If a Reimbursement report is not ready for export, the NetSuite logo in the "Sync" column will be greyed out. Attempting to export it will produce an error message that explains what needs to be fixed before it can be exported.
- When a report is correctly updated and ready for export, the NetSuite logo in the sync column will be coloured.
- Report updates are pushed to your NetSuite from Float daily at 10:00 am EST. If your report fails to sync after payment, this will be reflected in Float the next day after the daily sync.
- The NetSuite logo in the Sync column will glow red, indicating an export error. By clicking into the report, you will see an error message letting you know why the export failed.
Some Common Export Errors:
- Invalid Account Type: This error indicates either the Accounts Payable and/or Clearing accounts are not correctly configured or haven't been selected in Reimbursements Settings
Editable Posting Dates:
Within the "Ready to Review" tab, you have the option to select a Posting Date within each report. This feature is useful if you've already closed your books for a specific accounting period, but have a late Reimbursement that you need to export.
If you attempt to export to a closed period, you will get an error. To resolve, you can either open the closed accounting period in NetSuite or adjust the posting date and retry the export.