Implementing Advanced Financials in NetSuite

Course Objective

By the end of the course, you will know how to use and apply budgets, set up revenue recognition (including adherence to EITF-08) and revenue commitments, and forecast revenue. We discuss how to use amortisation on both expenses and as a tool for depreciating assets; expense allocation and billing schedules.

This course is right for you if you...

  • Need to further your learning on NetSuite Advanced Financials functionality
  • Need a deep dive into the accounting capabilities of NetSuite
  • Have a very solid understanding of the financial and organisational goals and rules of your company.

Note: If your organisation is currently undergoing a NetSuite implementation, then prior attendance in NetSuite Essentials is recommended. If the implementation is complete, then attendees should have been using NetSuite for at least 6 months. This course is also beneficial to new staff members joining organisations using NetSuite's Advanced Financials.

Key Tasks Taught: How do I...

  • Setup and use Multiple Budgets so that I can plan my future income and expenditure, then track how I am doing against the plan?
  • Setup and use Recognise Revenue and VSOE to the Financial Accounting Standards Board’s specification?
  • Setup and use Revenue Commitments so that I can recognise revenue before it is billed to my customers?
  • Setup and use Sales Order Revenue Forecasting?
  • Setup and use Billing Schedules to automate billing to my customers, so that my customers receive their bills in a timely manner?
  • Setup and use Amortisation to spread my expenditure the periods it covers, and not just the period in which I incurred the expense?
  • Setup and use Expense Allocation so that my expenditure is automatically spread throughout my organisation without the need to manually process journals?

Duration: 2 days
Price: $1,600 USD

View the Course Data Sheet for daily topics, prerequisites, and other key information

View the Course Schedule