Simplifying the process of Finances

NetSuite is the #1 cloud accounting & financial software.

More than 18,000 businesses have trusted NetSuite to run their back end processes as it’s the single most comprehensive financial cloud management software. From viewing individual transactions to generating in-depth overview of the financials, NetSuite ensures accessibility from a single cloud source.

NetSuite delivers futuristic features for the needs of modern businesses:

  • Boost the order to cash process by 50%
  • Quicker financial close by 50%
  • Gain comprehensive reporting for daily cash balance
  • Personalized dashboards & reports in real time
  • Increase company productivity with 24/7 access, anywhere & anytime
  • Eliminate IT maintenance costs with periodic system updates

NetSuite’s Financial management software can be integrated with NetSuite Inventory Management, CRM, Order Management & eCommerce to increase synergy & create a single unified system for the business.

NetSuite Cloud Accounting Solution

  • Set a defined procedure to set up journal entry approval
  • Automatic checklist & period close process
  • Access to pre-built reports & the ability to create custom reports
  • Get real time updates about crucial KPI’s & business alerts through a single cloud database
  • VAT Reporting through online filing for numerous countries

Accounts Payable Features

Gain complete control over vendor invoices, purchase orders and receipts. Eliminate manual order entry & processing with NetSuite Accounts Payable Solutions. Speed up financial close & provide your Finance team with better accuracy, efficiency & visibility.

1) Record Entry & Check Print

Set up batch check prints, populate your check fields & get automatic mailing of payments.

2) Reporting

Generate reports based on due date, expense type, date of payment / period, status of payment and vendors. Bifurcate payments which have been made, processed or yet to clear.

3) Master Vendor List

Track individual payments with custom created vendor database. This database packs crucial information like contact info, vendors terms & conditions, addresses.

4) Payment plans

NetSuite Accounts Payable identifies and notifies about upcoming payments along with the best timing and incentive for making the same.

5) Purchase Order & Reconciliation of Invoices

 Authentically identify payments through reconciliation of invoices & POS’s with entries in NetSuite AP. Mark payment records with up to date purchase orders / vendor bills to reduce financial errors.

6) US 1099 Reporting

Creation of non-payroll payments paperwork for non corporates individuals to provide the required tax forms.

7) Integration

Benefit your purchase order process and NetSuite AP by integrating your PO module & master vendor list. Identify payments and harmonize AP for your bank records.

8) Advanced Reporting

 Create custom graphical reports using customized fields, reports and instructions to improve and point out crucial KPI’s.

9) NetSuite AP benefits

    • Create accurate profit/loss statements with viewable debits, credits, revenues from a single accounting period.
    • Automatic payment processing of rents, loans and billings.
    • Create custom reports with graphs and business favoured KPI’s.
    • Track purchases made by employees with advanced reporting.
    • Automate check & payment processing for cash management.
    • Develop additional workflows to ease business process.
    • Stay up to date with payments to avoid late payment fees.

NetSuite Accounts Receivable keeps tracks customer payments to ensure you’re paid on time. Manage incoming payments, create records and track receivables to ensure optimal profitability.

    • Create customer list to identify each customer records separately
    • Merge receivables with appropriate customer profiles in real time
    • Identify customers making late payments & vice versa
    • Stay up to date with latest information to make data driven decisions
    • Wide customer database to manage customer relations

NetSuite Accounts Receivable benefits:

    • Understand your organizations financial standing
    • Predict current & projected cash positions
    • Manage customer payments
    • High Data integrity
    • Automate overdue payments processing & interest charges

NetSuite Electronic Payments Features

Get freedom to choose from several payment processing options to catch funds and lay out expenses.
Collect funds & make payments while connecting your accounts receivables and payables with 3rd party systems, financial institutions and processors. NetSuite has innate features which can automate your invoicing payments for payables, managing settlements against credit card accounts & banks for receivables in real time.

1) Electronic Funds Transfer

Give your customer freedom to transfer funds directly from their banking institution to yours for a simplified transactional process.

2) Customer Credit Card Processing

Efficiently handle payments for website orders and sales orders with NetSuite’s end to end payments processing.

3) Online Bill Payments

Make payments through the system, eliminating manual signing of checks and printing.

4) Google Checkout

Process payments when orders are processed from the website. Google Checkout is a trusted and simple payment processing tool for customers.

5) Direct Deposit for Payroll

 Transfer employee paychecks or funds directly to their banking institution.

6) Express Checkout for PayPal

Give customers the option to make payments through PayPal on your company webstore.

7) Automated Clearing House processing

Automated Clearing House processes transactions via the ACH network which is fast and reliable to capture funds.

8) Benefits of NetSuite Electronic Payments

Take your company on a green path with Electronic Payments Processing

    • Unify and streamline cash to reconciliation process and order to cash processes.
    • Ease financial operations and record all payment processes from web, phone, cash sale or invoice payments.
    • Provide numerous payment options for customers.
    • Set up monetary processes across numerous countries and multiple currencies.

NetSuite General Ledger Features:

SuiteGL, is a cloud based General Ledger which gives your Financial Department better flexibility in their accounting software with added customizable features.

Custom Created GL segments:

    • Confirm GL financial impact process follows a double – entry accounting principles & balances throughout all segment combinations.
    • Add region, territory, product line, division, channel and item family information to the reportable segments.

Customer created transaction types

    • Design transaction types based on your business / industry of choice.
    • Develop new business workflows with custom created approval processes, audit trails, permissions and type-specific transactions numbering.

Custom Created GL lines:

    • Innate ability to automatically attach general ledger impact lines to on-going business processes like invoicing, sales or even vendor bills.
    • Addition of custom GL impact lines to traditional transactions across single or multiple accounting books.

Benefits of NetSuite General Ledger:

    • Gain increase in accuracy of GL.
    • Better control & visibility through reports and analytics.
    • Eliminate manual entry processes.
    • Simplified transactions with foreign countries.
    • Measure performance of every level.

Support entire work process from Accounting, Sales, Customer Support and more while eliminating manual data entry between multiple applications.

Various software packages solve few issues and leaves your organization with buckets of un used data. In order to maintain data integrity, data must be manually entered which results in loss of employee man hours.

NetSuite has in built features to ensure data is safely integrated from one system to NetSuite while holding the highest standards of data integrity.

NetSuite Competitive Switch Features:

    • Top class cloud infrastructure
    • Built in disaster recovery with fault tolerance
    • Protection from Data theft & hackers
    • Grant users permissions for required features
    • Unlimited user count
    • Superior level of customization capabilities
    • Add required files & fields without any limit for an improved workflow
    • Create custom dashboards & reports as per business functions

Speed up & rectify your Order – Fulfilment process.

NetSuite speeds up the order to cash process by eliminating redundant workflows and provides with a smooth direction starting from sales quote to approved transactions, invoicing and payments.  NetSuite’s Order Processing will integrate your financial department, sales and fulfillment teams to improve the quote accuracy while deleting billing mishaps and strengthening your  revenue capturing process.

NetSuite Fulfillment & Order processing Features:

    • Automatically integrate shipping, invoicing, billing, inventory & A/R among more
    • Graphical reports for understanding company analytics
    • Custom dashboards and alerts to prevent risks
    • Order tracking in real time
    • Generate shipping labels automatically

NetSuite Fulfillment & Order processing benefits:

    • Automatic custom shipping reports and bulk fulfillment
    • Optimize customer interactions through customizable order forms per class user.
    • Self service tracking tools available with customer 24/7
    • Eliminate manual data entry, order management & shipping
    • Integration with FedEx &UPS for improved efficiency

Let our Experts answer your burning questions about NetSuite Accounting

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