Accounting, being at the heart of NetSuite ERP, helps businesses to align their financial processes to market requirements as well as business specifics. It supports and optimises back office to increase efficiency and allow focus on customer facing activities and revenue generation, while maintaining the highest level of compliance to regulations and accounting standards.
NetSuite’s Accounting Software is successfully used by thousands of companies worldwide to gain real-time insight into what is really happening at the core of their business, perform daily financial transactions and maintain the highest level of compliance. Ease of implementation, integration with other modules and maintenance allows its’ users to look at the business holistically and drill down into details whenever needed.
With Financial & Accounting business and finance leaders can make sound decisions leading to increased financial efficiency and back-office cost reduction. With real time access to reporting the overall speed to market and enterprise productivity increases resulting in better competitive positioning in the market. All of this while maintaining the highest level of compliance to requirements such as ASC 606, GAAP, SOX and others.
- General Ledger
- Accounts Receivable
- Accounts Payable
- Tax Management
- Fixed Assets Management
- Cash Management
- Payment Management
How would you manage your growing business billing needs? Unless your processes are automated and flexible in terms of type of billing supporting transaction, subscription, usage-based and any hybrid models your putting your company’s existence at risk. NetSuite allows to do all of this while being in accordance to revenue recognition standards. It turns billing into one of the most strategic competitive advantages.
- Transactions, subscriptions and projects connection to the billing engine
- Creation and management of subscriptions and support for recurring billing
- Integration to revenue management solution
- Creation and management of rating models
Stay compliant with accounting standards including ASC 605, 606 and IFRS 15, and report financial results in a timely manner. NetSuite fully automates revenue forecasting, allocation, recognition, reclassification, and auditing through a rule-based event handling framework. It does not matter what type of transactions is your business processing and how often, NetSuite will take care of presenting revenue in your financial statements accurately.
- Percentage-of-Completion Accounting
- Event Driven Revenue Plans
- Intelligent fair value lookup for stand-alone selling price or ESP/TPE/VSOE
- Flexible Revenue Contracts
- Dynamic Fair Value Pricing
- Powerful Allocation Calculator
- Book-Specific Fair Value Prices, Revenue Rules, Plans and Arrangements
- Book-Specific Foreign Currency Management
- Book-Specific Financial Reporting
Financial Planning by Oracle NetSuite allows rapid adoption of company wide or departmental financial planning and budgeting capabilities. Thanks to performant calculation engine it can accommodate complex business logics, modelling of approval workflows and instant reporting. Due to integration with Microsoft Office (Outlook, Excel, Word, PowerPoint) playing with data, and modelling are very easy to start with.
- Intuitive user interface
- Flexible modeling
- “What if” analysis
- Comprehensive reporting & analysis
- Multicurrency support
- Microsoft Office integration with Smartview
Your organisation will get human-errorless financial statements and deep-dive analysis into state of the business with automated financial statements. Improve business decision making by allowing insights into business condition from any dimension with extensive data modelling capabilities.
- On demand business insights with out-of-the-box or customised dashboards
- Access from anywhere, anytime and any device
- Customise financial reports to see specific types of GL accounts, transaction fields or even custom field values as they are recorded on transactions
- Easily craft the financial statements you need for your reporting requirements using Financial Report Builder
- Tailor report formats to any presentation format
- Diagnose financial issues with multi-dimensional reporting and ability to drill-down to transaction in a realtime and any source of data
- NetSuite financial reporting provides global support for both internationalization and localization
- Multiple accounting books
- Multiple Fiscal and Tax calendars
- Localized tax calculations and reporting
- Local format Income Statement and Balance Sheet
- Audit and Compliance Reporting
- Generate accurate statements and reports that comply with accounting standard e.g. US GAAP and IFRS
NetSuite allows to run a multinational business with an unprecedented ease thanks to ability to consolidate at the subsidiary and parent entity level with no effort. It allows transparency and gives insight into business, no matter which country you are and what language you speak. With multi-language support to bridge the communication it has never been easier to manage global organisations locally.
- Multi-currency and multi-language support
- Configurable tax engine
- Audit and compliance reporting capabilities
Built-in capabilities and processes to design handle complex regulatory environments allow your organisation to focus on running an actual business with minimal involvement of time and resources to ensure compliance, while staying on the top of the game.
NetSuite provides a superior compliance foundation, with an array of supporting reports and certificates like SOC 1, SOC 2, ISO 27K, PCI/PA-DSS and more.
- Audit ready with deep role based security, access management and authentication models
- Scalability that allows to grow from a small company to highly visible enterprise
- Automated control processes