SVB T&E has a seamless integration with NetSuite for both reimbursable expenses and corporate card expenses. Once the integration is set up, it will eliminate time-consuming, manual data entry.
How does the sync work for reimbursable expenses (Cash Mode)?
- SVB T&E processes reimbursements via batched ACH transfers.
- When we kick off the ACH transfer, we push a Vendor Bill & Vendor Bill Payment into NetSuite of the same transfer amount for easy reconciliation
- We use a Bill and Bill Payment to make it efficient for you to reconcile to the periodic bank debits, while still giving you the full line item granularity for each expense that you need to properly roll up to the income statement, e.g. Account, Class, etc. A Bill can only have one Vendor, so Spend is the Vendor because we're responsible for the reimbursements.
Here's what the Bills will look like in NetSuite:
When you click to view the Bill, it will include line-item level detail for each expense that's included in the bill. Most importantly, each expense will already be booked to the correct Expense Account. Not shown in this screenshot are values for Department, Class, Customer, and Location, but these are also fields that you can map.
And here's the Bill Payment:
How does the sync work for reimbursable expenses (Accrual Mode)?
When you select Accrual mode in your Accounting Sync settings, we will sync your expenses based on the date of the expense rather than the date of the reimbursement.
The first time SVB T&E syncs to NetSuite in accrual mode, an Abacus* Clearing Account will be created in NetSuite (the account type is Other Current Liability). Debits sync to NetSuite the same night you approve a batch of expenses. For each expense, we create a Journal Entry increasing the balance in that amount, and one Bank Transfer that will match the total amount of the debit.
*While we call it, Abacus, this is the integration package for SVB T&E.
We will sync to the following fields for each individual expense:
- Date
- Number
- Type
- Payee
- Account
- Memo (includes the employee name, note, and link back to the original expense)
- Amount
Warning: please don't change the name of the Clearing Account because we'll create a new Clearing Account next time SVB T&E syncs expense data to NetSuite.
The bank transfer will offset the expenses so that the balance of the account is zero. Please note that expenses dated in the future will cause a balance in the account.
Each expense will be booked to the correct chart of account:
If an expense is split, each part of the split expense will each have their own Journal Entry in NetSuite.
How does the sync work for corporate card expenses?
You have the option to sync corporate card transactions as either 1) Journal Entries or 2) Credit Card Transactions. You can determine this in the Accounting Sync tab in your Settings.
Here's what a Journal Entry will look like:
Navigate to your list of Corporate Card transactions in Netsuite, and view the transactions in a list.
The details of the Corporate Card transaction look like this:
Adding additional information to your NetSuite sync
In addition to Expense Account, you can also sync over information for Class, Location, Department, and other Custom Fields. Please refer to the related articles (below) on Team and Expense fields to learn more!
Supported Account Types
| AccountType | AccountTypeId | Category | Balance Type | Avaliable in Categories | Avaliable in Bank | Avaliable in Corporate Cards | Avaliable in Corporate Cards Only | Avaliable in AP |
| Accounts Payable | AcctPay | Liability | Credit | x | x | |||
| Accounts Receivable | AcctRec | Asset | Debit | |||||
| Bank | Bank | Asset | Debit | x | x | |||
| Cost of Goods Sold | COGS | Expense | Debit | x | ||||
| Credit Card | CredCard | Liability | Credit | x | x | |||
| Deferred Expense | DeferExpense | Asset | Debit | x | ||||
| Deferred Revenue | DeferRevenue | Liability | Credit | |||||
| Equity | Equity | Equity | Credit | x | ||||
| Expense | Expense | Expense | Debit | x | ||||
| Fixed Asset | FixedAsset | Asset | Debit | x | ||||
| Income | Income | Income | Credit | x | ||||
| Long Term Liability | LongTermLiab | Liability | Credit | |||||
| Other Asset | OthAsset | Asset | Debit | x | ||||
| Other Current Asset | OthCurrAsset | Asset | Debit | x | ||||
| Other Current Liability | OthCurrLiab | Liability | Credit | x | ||||
| Other Expense | OthExpense | Expense | Debit | x | ||||
| Other Income | OthIncome | Income | Credit | |||||
| Unbilled Receivable | UnbilledRec | Asset | Debit | |||||
| Non Posting | NonPosting |