NetSuite Tips & Tricks: How to Import a Budget

Work smarter, not harder. Not the first time you’ve heard that right? Well this time it comes with a way to help you do exactly that. Did you know you can create NetSuite budget records by importing external application budget data as CSV files using the Import Assistant? Read on to get NetSuite help.netsuite-logo-600x500-blackFormatting CSV Files for NetSuite Budget Import

The first step is getting your file properly formatted to avoid any potential glitches.  Here are some tips to get your file ready to import into NetSuite.

  • Make sure the CSV file account name exactly matches the account name in the chart of accounts.
  • In a subaccount, the account field must contain the parent account name and subaccount name, separated by a colon (:). This would look like, Parent : Child Account. The same format applies to subsidiaries.
  • Account numbers should not be included in the account name.
  • The category is required if multiple budgets are enabled.
  • The CSV file year format must match the accounting period year format at Setup > Accounting > Manage G/L > Manage Accounting Periods.
  • Comma Separator (,) or currency symbols ($) are not permitted in numbers or amounts.

How to Import a Budget in NetSuite

Once you have your file properly formatted and ready to go, follow the steps below to import your file into NetSuite. If you are looking for a trusted and experienced NetSuite partner, we have NetSuite consultants that can help.

  1. Start by going to Transactions > Financial > Set Up Budgets > Import.
  2. In the Scan & Upload CSV File section on the Import Assistant page, choose the type of character encoding for imported data. See “Choose Import Character Encoding” for more information on available options.
  3. Download a template file by clicking on Budgets Template File link.
  4. Save the file to your system, and populate the file with your budget data. The following limitations for CSV file fields include:
  • Year – Values should be for years with accounting periods set up at Setup > Accounting > Manage G/L > Manage Accounting Periods.
  • Category – A category is required If the “Multiple Budgets” feature is enabled.

NOTE: The Budget Category field will default to the first category on the alphabetic list if is not mapped during the import.

If using NetSuite OneWorld and Multiple Currencies is enabled, the budget category type will determine if NetSuite stores the budget amounts using global (root parent's base currency) or local (subsidiary's base currency) currency. For more information see “Creating Budget Categories for Local Subsidiary Budgeting”.

  • Account – This field should contain names. Numbers should not be used, even if the “Use Account Numbers” preference is enabled. On subaccounts, values must be hierarchical - Parent Account Name: Child Account Name.
  1. Click Select and choose the budget data file you have populated, then click Next.
  2. Review the automappings of CSV file fields to NetSuite fields on the “View Mapping / Start Import” page, and make any required modifications.
  • The CSV file field mapped to the required Account field must contain account names - not account numbers. If you’re working with multiple accounts with the same name but different numbers, mapping by name will not work, to avoid this, map a CSV file field containing internal ID values to the Account field.
  • Check out “CSV Field Mapping Tasks” and “General CSV Field Mapping Tips” for more information about Import Assistant field mappings.
  1. Start the import by clicking Run.
  2. Review the NetSuite budget records after the budget data has successfully imported by going to Transactions > Financial > Set Up Budgets > List, then clicking a View or Edit link to open each record.

Are you getting the most from your NetSuite subscription? Contact BCG Systems, a trusted NetSuite Solutions Provider, and let’s find out what more NetSuite can do for you.

By: Tanya Weatherholt, Senior Consultant & Project Manager, NetSuite at BCG Systems, Inc.

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