Finance & Accounting

Summary

NetSuite seamlessly brings together all of your business’ finance and accounting functions and robust compliance management for better business performance and more efficient accounting closings and financial reporting.

In addition to increasing accounting accuracy, it eliminates duplicate data entry and inefficient manual spreadsheets, with real-time access to financial data and powerful drill-down to details in all of the reports and statements that are generated. Multi-book accounting becomes easy, as does complying with various financial requirements (legal, management reporting, IFRS versus Local GAAP, etc.);

Features

General Ledger

You maintain a global Chart Of Accounts and localised translation of account names and numbers. Thanks to unlimited financial segmentation, custom segments enhance your ability to categorise data and satisfy your organisation’s unique reporting and analysis needs. With NetSuite, you are able to manage multiple subsidiaries in one place and you can count on a robust currency-management engine.

You will also be able to efficiently manage amortisation and the allocation of expenses, your fixed assets, your revenue-recognition schedules and your budget in the Core Finance functionalities of NetSuite.

Bank Reconciliation Management

Record bank transactions easily: NetSuite provides a complete overview of the company’s money flows and cash position, so that finance teams can be more strategic than ever before.

Accounts Receivable

NetSuite automates the invoicing processing – including e-invoicing – and manages customer credit and the collection of overdue balances.

Accounts Payable

NetSuite accelerates the booking of vendor bills. You can use OCR functionalities or create approval workflows.

VAT and Tax management

• NetSuite can manage your national and international VAT
• NetSuite generates multiple detailed reports for analysis and inspections and generates VAT returns and Intrastat return forms
• NetSuite also supports other taxes, such as GST, US sales tax or consumption tax

Payment Management

• NetSuite allows you to generate payment files that you can upload to your bank platform (Batch payments of vendor bills and customers’ payments (Direct Debit))
• NetSuite supports SEPA and international payment formats
• Payment-approval routing is supported

Financial Reporting

NetSuite offers a wide range of native reports which are highly customisable. Among others, you will be able to build and generate accounting reports (Trial Balance, General Ledger, Customer/Vendor Aging reports, etc.), VAT and Intrastat reports, Fixed Assets & Depreciation reports and financial reports (Balance sheet – Income statement – Cash Flow Statement).

You will be able to generate all your management reports in a single tool. The creation of very extensive enquiries (saved search) for analysis or control purposes is also possible. All the reports can be exported in various formats, such as Excel, Word or PDF.