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TFN sits inside Record-to-Report (the “T” process): close the accounts before consolidation by reconciling balance-sheet accounts.
Reconciliation here means: take everything that hit a GL account this month, add it up in Excel, and show it equals the balance NetSuite claims — then explain anything weird.
- Month-end: prepare.
- Quarter-end: a harder review.
- Only balance sheet (not the full P&L).
- Only accounts above $300k (their materiality cutoff).
- Regions: NA, EMEA, APAC.
How one account is reconciled
- Account list lives on the Monthly/Quarterly Accounting Checklist.
- Pull GL Line Item Display from NetSuite (every JE that hit that account).
- Within a week after month-end: confirm period + GL code, dump to Excel workbook “20XX-X Balance Sheet Analysis”, one tab per account.
- SUM the activity. Type in the NetSuite GL balance. Paste a screenshot of NetSuite (period, code, balance) as proof you did not invent the total.
- Difference must be zero. If someone posted after you exported, re-run the report.
Quarterly review — TFN01
Analysts refresh the checklist and analyze key BS accounts for all three regions.
- Extract GL Line Item Display-BM [critical] DTN05 + screenshot.
- Also extract CFO Balance Sheet BB Custom [critical] DTN04 so the list of accounts is complete.
- Files sit in a folder only prep + review people can open.
- Regional Accounting Manager / Senior Manager initials, dates, comments. Material variances die before statements go out.
What the Operations Manager re-checks
A Review Checklist tab lists every GL that should have been done. For each tab: screenshot is the right account/period; typed balance matches; formulas work; initials next to the $0 difference. Then a second pass: did the usual stuff post? any backwards debit/credit? unexplained entries? (classic miss: an accrual that did not reverse next month). Questions go back to the analyst → the business team who posted. Open comments live on the checklist until closed. Director spot-checks a random sample of tabs and signs the quarterly checklist.
Did we forget an account? — TFN02 / TDN04
Semi-annually, Accounting Manager runs CFO GL Detail BB Custom DTN07 from March 2014 (when they started NetSuite) to today — every GL code that ever existed. Any material (>$300k) code must be owned by accounting or another process team.
New GL accounts are approved by Corporate Controller as they appear. If this sweep finds a new one that belongs here, Director, Accounting Operations approves adding it (TDN04, details live in the Consolidation walkthrough, not this PDF). New accounts are rare, which is why they only sweep twice a year.
Quarterly, EMEA & APAC also drop CFO Balance Sheet BB Custom into the workbook and highlight accounts over the threshold (TFN01).
Other pages: journal entries · policies · Session 1 close
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