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NetSuite ERP - Financials

Financial Reporting

Highlights

Having access to key financials and reports is critical to your success. With NetSuite's financial management services, you get comprehensive tools that allow you to control all your financial data and processes. And since the financial management services in NetSuite financials are integrated with your sales, support, shipping and receiving functions, you get real-time financial data directly from those departments, enabling faster, smarter business decisions.

Benefits

Real-Time and always up-to-date financial reports
Comprehensive and customizable financials
Easily export for auditing

Multiple Budgets

Highlights

Use NetSuite's budgeting capabilities to capture your business objectives for the coming financial year. You can also generate up-to-the-moment comparative reports with our financial management software to evaluate your spending. New functionality includes multiple budgets and import/export to Microsoft Excel®.

Benefits

Create and manage multiple budgets
Real-time comparative reporting to evaluate spending

Multi-Currency

Highlights

Companies that have offices in other countries, or those that frequently do business with foreign companies, must record and track transactions in foreign currencies. The automated currency revaluation feature simplifies the period-end close process by generating adjusting journal entries to reflect exchange rate fluctuations on any open accounts payable or receivable transactions. Plus, with NetSuite's financial management capabilities you can price your items in multiple foreign currencies to ensure customers see only current exchange rates and prices.

Benefits

Manage pricing and transaction in multiple currencies
All reporting in home currency, all transactions in local currency
Extend your reach into foreign markets easily

Advanced Billing

Highlights

NetSuite's Advanced Billing feature makes contract billing faster, more convenient, and easier to manage. Many businesses invoice customers for a sale over a range of time, or a contract term. For example, a customer might commit to a one year membership billed monthly, or a three year service contract with quarterly invoices. Keeping track of billing schedules and managing the invoicing process (knowing when it is time to invoice, how much to invoice...) can be a major challenge for such companies, and having the financial management services to do so effectively is critical to successfully managing your revenue stream.

Benefits

Create and automate billing cycles
Reduce employee time in creating and managing invoices
Provide flexible billing options to your customers to win more deals

Deferred Revenue Recognition

Highlights

NetSuite is the first hosted application to bring revenue recognition management to mid-size companies. NetSuite's financial management services make it easier for companies to flexibly recognize revenue according to customer contracts and to maintain accounting control within GAAP and other reporting standards.

Benefits

Manage and track deferred revenue
Create revenue recognition schedules that run automatically
Lower overhead costs associated with managing revenue recognition

Amortization Schedules

Highlights

Amortization Schedules allow you to set up a schedule to amortize expenses over time. They are very similar to Revenue Recognition Schedules, but rather than Invoices and Credit Memos, amortization schedules are linked to Bills, Bill Credits and Journal Entries. With Amortization Schedules, you can streamline many redundant steps in your accounting processes, such as amortizing prepaid expenses. Amortization Schedules may also be linked to Jobs, so you can amortize your expenses in proportion to the Job's percentage of completion.

Benefits

Automate the amortization of expense via schedules
Save time and accounting costs through automation

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