The end-to-end procedure General Accounting follows to lock the period, reconcile sub-ledgers, post adjustments, and publish the consolidated trial balance to FP&A by WD+5.
| Version | Date | Author | Summary |
|---|---|---|---|
| 1.0 | 2026-04-01 | Priya Mehta | Initial release |
This procedure standardises the monthly close for the North America consolidated ledger in NetSuite. It ensures that all sub-ledgers are reconciled to the GL, that recurring and adjusting entries are posted on the correct period, and that a signed trial balance is delivered to FP&A by Workday +5.
In scope: US-01, US-02, and CA-01 entities; AP, AR, Inventory, Fixed Assets, and Payroll sub-ledgers.
Out of scope: EMEA and APAC ledgers (see SOP-FIN-022). Statutory filings and tax provision (Tax Ops).
Begins on the first business day after calendar month-end (WD+1). The close checklist owner opens the period workspace and assigns step owners by 10:00 local.
| Role | R | A | C | I | Responsibility |
|---|---|---|---|---|---|
| Close Analyst | ● | ○ | ○ | ○ | Executes reconciliation and JE steps. |
| Controller, NA | ○ | ● | ○ | ○ | Approves TB and locks the GL. |
| FP&A | ○ | ○ | ○ | ● | Receives close package. |
Period Manager access in NetSuite; bank feeds posted through month-end; payroll journal imported; FX rates loaded for the period.
Prior-period TB, bank statements, intercompany schedule, recurring JE template JE-REC-MONTHLY, close checklist.
Navigate to Setup → Accounting → Manage Accounting Periods. For the current period, set every sub-ledger column to Locked except GL. Confirm lock icons turn solid before continuing.
Generate the consolidated TB for ACME-NA-CONS. Export to the close folder and name it with the period suffix. Spot-check cash and AP control accounts against the prior month.
Open the recurring batch, confirm period and entity tags, then post. Re-run TB-PRE and verify amortization and accrual lines moved as expected.
Match statements to GL balances. Document open items over $5,000 on the reconciling-items schedule and assign owners before WD+3.
Clear matching IC balances, post eliminations, and confirm net IC is zero on the consolidation worksheet before FX revaluation.
Signed final trial balance, close checklist with approvals, reconciling-items schedule, and close package PDF for FP&A.
GL locked by WD+5; TB variance to prior month explained; no open IC balances; Controller sign-off recorded in the checklist.
Material late adjustments after GL lock require Controller + VP Finance approval and a revision note in the close package.
SOP-FIN-022 (EMEA close), NetSuite Period Manager guide, Northbridge Close Calendar FY2026.