Cloud Based Finance and Accounting Software For Modern Companies

Close quickly with confidence and report financials faster and accurately

NetSuite cloud financials and accounting software helps finance leaders design, transform and streamline their processes and operations. NetSuite seamlessly couples core finance and accounting functions with strong compliance management, which improves business performance and increases financial close efficiency while reducing back-office costs. With real-time access to live financial data, you can quickly drill into details to quickly resolve delays and generate statements and disclosures that comply multiple regulatory financial compliance requirements such as IFRS, GAAP, SOX and others.

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General Ledger

Transform your General Ledger from one-size-fits-all into a dynamic business asset

NetSuite transforms General Ledger from a static, one-size-fits-all into a dynamic asset that enables companies to tailor General Ledger processes to meet their unique business needs and changing conditions. NetSuite’s SuiteGL is a dynamic, ‘disruption-ready general ledger’ that gives finance professionals new flexibility and visibility, richer reporting functionality, enhanced audit trails and new support for multinational financial management.

Key Capabilities
  • Custom GL lines eliminates the need for manual journal entries by letting users add custom GL impact lines to transactions such as invoices or vendor bills across single or multiple accounting books by using a configurable plug-in, which benefits companies doing business in countries where the GL impact of a transaction differs from other countries.
  • Custom GL Transactions enable businesses to define entirely new GL impacting business processes with their own approval process and routing, discrete audit trail, permission controls and type-specific transaction numbering, reducing the time and effort required for account reconciliation and audit processes.
  • Custom GL Segments gives finance teams the ability to define unlimited custom GL segments such as profit centre, fund, programme, product line and more, in addition to the subsidiary, class, department and location segments standard, improving accuracy and saving time by ensuring that GL financial impact follows double-entry accounting principles and balances across all segment combinations.
  • NetSuite’s Multi-Book accounting capabilities eliminate data entry replication and reduce the need for error-prone manual adjustments to your accounting and reporting processes that are created when managing unique sets of books per accounting standard. With pre-built mapping capabilities between your primary and secondary chart of accounts, as well as book specific functional currencies, the NetSuite Multi-Book engine can record all book-specific activity based on a single business transaction from the general ledger, revenue recognition, expense amortisation, depreciation, P&L allocations and more.

Accounts Receivable

Comprehensive AR Management optimises receivables and accelerates cash flows, providing total control

Gain the added liquidity you need to fund growth, streamline processes, reduce costs, shorten the credit-to-cash cycle, enhance service levels and seize new investment opportunities as they arise with NetSuite’s Accounts Receivable solution. Bring your collections processes into the 21st century with an end-to-end AR experience for automating and streamlining every aspect of invoice delivery, credit terms and collections management.

Key Capabilities
  • Increase cash flow, reduce operating costs, minimise bad debt, and ensure compliance with accounting guidelines.
  • Streamline operations and instil corporate and fiscal discipline.
  • Simplify the retrieval and presentation of billing information from diverse sources.
  • Generate recurring invoices for easy subscription management.
  • Send invoices by email and offer more payment options.
  • Get a single view of quotes, sales orders, and invoices.
  • Automatically post order transactions to general and AR ledgers, making billing and accounting more efficient and secure.
  • Leverage up-to-date and accurate tax calculations on invoices for automated tax processing.
  • Provide customers with self-service access to real-time information relating to purchase orders, inventory and payment information.
  • Get the insights you need—configurable dashboards, reports, and KPI’s provide a real-time view into customer aging, invoice analyses, recurring invoices, deferred revenue, exception reports to flag account anomalies.
  • Gain access to SuiteApps, an online marketplace where hundreds of innovative third-party solutions that help integrate and extend NetSuite with industry-specific solutions.

Accounts Payable

Automate and streamline AP and save time, improve control and increase productivity

Improve liquidity, mitigate potential funding gaps and realise higher profits by adopting an effective accounts payable strategy with NetSuite’s Accounts Payable solution. Process invoices on a timely basis, take advantage of available discounts and set longer or shorter payment terms with suppliers depending on which are most favourable.

Key Capabilities
  • Automatically calculate discounts based on customisable payment terms.
  • Eliminate manual data entry and associated errors, and minimise the time and effort it takes to process bills from vendor.
  • Simplify exception processing when invoices aren’t matched to purchase orders or receipts.
  • Optimise payment terms and improve vendor relationships.
  • Improved control with no bills lost or forgotten, no bills paid twice and no fraudulent invoices paid.
  • Increase visibility throughout the A/P process with real-time status of bill processing.
  • Retrieve bills, item receipts, vendor contracts and more directly from NetSuite ERP.
  • Improve reconciliation, streamline accrual processes and produce more-accurate financial statements.
  • Gain access to, SuiteApps, an online marketplace where hundreds of innovative third-party solutions that help integrate and extend NetSuite with industry-specific solutions.

Tax Management

Complete global tax and compliance management that provides transparency, automation, simplicity and control

NetSuite’s configurable tax engine provides end-to-end global tax management, from controlling your company’s complete tax profile through one simple, easy-to-use system to generating detailed reports that allow you to analyse transactions down to line item tax details in real-time. The NetSuite tax management solution helps your business streamline global tax compliance process, saving time, reducing errors, and cutting costs. NetSuite supports every known global currency and exchange rate and allows accounting departments to process taxes in accordance with country-specific laws.

Key Capabilities
  • Supports tax calculations at multiple global levels and locations including multiple currencies.
    • Out-of-the-Cloud pre-configuration of tax codes and localised reporting for over 50 countries.
  • Flexible indirect tax engine automates calculation of Canadian HST, Mexican IVA, German Mwst, Philippines VAT, Australian GST and more.
  • Cross border sales and Intrastate reporting across all 27 EU countries, including online capabilities for many countries.
  • Handles local taxes across subsidiaries that allows for multiple tax schedules for everything from GST to VAT, to consumption tax or general sales tax.
  • Detailed and summary reports available on demand.
  • The right rate is applied to every transaction every time.
  • Offers SuiteTax API enabling select third party tax solutions to easily integrate with NetSuite.

Fixed Assets Management

End-to-end lifecycle management for plant, property and equipment

NetSuite Fixed Asset Management provides an easy-to-manage, single version of the truth for your fixed assets. It enables you to maintain and control the complete lifecycle across depreciating or non-depreciating assets from creation to depreciation, revaluation and disposal. NetSuite Fixed Asset Management supports detailed asset management, including maintenance schedules and insurance, while providing tight accounting integration so that your fixed asset information is always presented accurately on the financial statements.

Key Capabilities
  • Manage the complete asset lifecycle and easily report on all fixed assets.
  • Completely integrate asset management with accounting.
  • Eliminate manual effort and multiple spreadsheets.
  • Easily track depreciating or non-depreciating company assets.
  • Leverage support for all standard depreciation methods.
  • Create and customise unlimited depreciation methods.
  • Post depreciation and asset retirements directly to NetSuite accounts.
  • Comprehensively report across assets, valuation and depreciation.

Cash Management

Monitor, predict and manage cash across global locations and entities in real time

NetSuite’s Cash Management solution enables treasury groups to be more strategic than ever before and focus on scaling the treasury organisation by providing a complete view of the company’s money flows. NetSuite’s Cash Management provides your finance team the visibility and reporting they need to optimise cash, control bank accounts, manage liquidity and deliver compliance.

Key Capabilities
  • Access a complete solution for addressing critical planning, processing, and reporting requirements of global treasury units.
  • Gain real-time insight into global transactions across bank. accounts and credit cards.
  • Manage cash across global locations and entities in real time.
  • Monitor and forecast cash requirements, perform automated bank reconciliations, distribute payments efficiently and securely, and automatically generate accounting entries.
  • Gain access to NetSuite partners offering a full breadth of treasury management solution, solving the cash, treasury, and risk management needs of treasury and finance departments of all sizes.

Payment Management

Complete payment management solution that centralises, streamlines and simplifies your payment needs

NetSuite’s SuitePayments is the smart way to meet all of your payment processing needs directly from within NetSuite. Whether your business accepts payments through online self-checkout or for the settlement of an outstanding invoice, you can accommodate all customer preferences. And, because it seamlessly integrates with NetSuite, you will have access to payment-related information in real time. SuitePayments is a complete payment management solution that supports most payment options and helps prevent fraud.

Key Capabilities
  • Accept a variety of credit and debit card types and other electronic forms of payment for online payment processing needs.
  • Support card payments for recurring and instalment billing, as well as split and partial payment transactions.
  • Out-of-the-box capabilities to enforce controls around card-related verification, authentication, encryption and more.
  • Gain visibility and improve payment control by accessing and managing all the payment types you offer in one place.
  • Serve different geographical markets with multi-currency and multi-site capabilities.
  • Offers SuitePayments API for payment gateway integration.

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