Airbase supports the amortization of Virtual Card transactions, Physical Card transactions, and Bill Payments.
In Airbase you can set the amortization start date, end date, and the prepayment account to amortize a transaction.
However, if you intend to use NetSuite to amortize your transactions, you can use your existing amortization templates or create new templates in NetSuite and set the transactions in Airbase to follow the template.
Here’s a feature-by-feature comparison of amortization in Airbase and NetSuite:
|Functions||Airbase Amortization||NetSuite Amortization|
|Syncing amortized entries.||Airbase syncs monthly amortization entries automatically to the GL.||Manually process the amortization entries every month on the Transactions > Financial > Create Amortization Journal Entries page.|
|Airbase uses the Straight-line, prorate first & last period amortization method.||NetSuite supports the following amortization methods:
|Modify amortization schedule.||Airbase users can edit the category and tags of future amortization entries.||NetSuite users can edit the category, posting period, and amount of future amortization entries.|
|Reporting.||Airbase does not generate separate reports on amortized entries.||NetSuite generates the following reports on amortized entries: