How a public biotech cut its accrual cycle from 5 days to half a day
Public clinical-stage · NetSuite
- Clinical stage, public
- NetSuite
- Excel, SharePoint
- Teams, email
5 days → 0.5 day
End to end, from pulling the PO to journal entry preparation
100% of POs
Auto-classified by accrual type, by department and program
Traced to source
Every PO and approval timestamped. Audit memo auto-filed.
“I stopped chasing PO owners. The agent reads the contract, drafts the accrual, and emails the right person to confirm the estimate. Half the work is already done.”
| Vendor | Basis | Amount |
|---|---|---|
| Medpace — Phase 2 trial | Open PO 4471, 62% delivered | |
| Charles River Labs | 3 receipts unbilled at 3/31 | |
| Insight Global | Contractor hours, unbilled | |
| Payroll — semi-monthly | 6 working days after 3/25 | |
| Cooley LLP | Hours to 3/31, invoice in April | |
| Mt Sinai — site fees | 2 site visits, unbilled | |
| Sigma-Aldrich | Received 3/29, invoice not in | |
| Total | 520,975.00 |
Every figure traced to source · 7 of 7 have support attached
The chase, the chaos, and the judgment
Every month started the same way: download the PO zip from NetSuite, sort by category (R&D, CTA, legal) and start the chase. Estimates trickled back as email, screenshots, and PDFs, entered manually into the master schedule.
Journal entries were the hardest part — not data entry, but judgment. Which accounts to hit, how to handle the reversal from last month.
Orchestrated, audit-ready accruals
Process orchestration
Pulls POs from NetSuite, classifies each by accrual type, reads the underlying contract, and drafts the accrual using the methodology that matches: patient-month for CRO, prosecution-stage for legal, SOW milestones for R&D vendors. Emails each PO owner a targeted ask. Replies update the draft. Write-back to the master and the journal entry are generated automatically.
Audit-ready output
Every approval is timestamped and filed alongside the source documents as evidence of review. IPE is flagged automatically. The auditor opens the folder, traces the approval, done. Re-runs match: same inputs, same result, every cycle. Change management captured by default.