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Contact:

Mei Li
Senior VP
Corporate Communications
NetSuite Inc.
Phone: 650.627.1063
E-mail: meili@netsuite.com

NETLEDGER ANNOUNCES NETLEDGER 2.5, AN ENHANCED WEB-BASED ACCOUNTING SOLUTION WITH EASIER NAVIGATION AND GREATER ACCOUNTING FUNCTIONALITY

 

San Mateo, Calif—March 1, 2000—NetLedger, Inc., the world's first provider of a Web-based accounting solution for small businesses, today announced the release of NetLedger™ 2.5, its enhanced online accounting solution enabling small businesses and organizations to improve the efficiency of managing their finances. NetLedger 2.5 delivers a full-featured, multi-user, online accounting solution with greater functionality and ease of use, built on the robust, reliable and secure Oracle 8i database.

The newly enhanced NetLedger 2.5 delivers collaboration features permitting businesses to work closely with their customers and vendors, streamlines navigation and provides users with more reporting capabilities while continuing to deliver a full suite of features critical to small-business accounting such as check writing, general ledger, invoicing and receivables. The monthly fee for NetLedger 2.5 remains the same: $4.95 per month per user.


“NetLedger delivers to small businesses and organizations a level of accounting functionality that matches their businesses and security needs,” said Bill Mirbach, president and chief executive officer of NetLedger, Inc. “With each new release, our objective is to reduce the time a business owner spends on this laborious, but essential business process, and thereby increase the time they have to focus on staying ahead of the competition. NetLedger is about leveling the playing field for small businesses.”

“Because NetLedger is Internet based, we are able to introduce new features and enhancements to our customers very quickly,” said Evan Goldberg, founder and chief technical officer of NetLedger, Inc. “The customer simply signs on from any Internet-ready computer anytime, anywhere and is ready to go with all of the latest feature enhancements that NetLedger offers.”

About a dozen new features were incorporated into NetLedger 2.5 based on customer suggestions, along with several major enhancements designed to make NetLedger even more user friendly, flexible and efficient. NetLedger's small business customers are upgraded to NetLedger 2.5 automatically, without time delays or costs.

New features of NetLedger 2.5 include:

An online credit-card-paying system that enables NetLedger small-business users to give their customers the ability to make direct electronic payments to their accounts.
Streamlined navigation that uses tabs to allow customers to view all available functions at the top level and move from function to function with ease.
The ability to import data or information created in a QIF format.
“Drill down” capabilities that allow the user to delve deeper into a report by, for example, reviewing the individual transactions that lead to its creation.
The addition of several reports commonly used by small businesses including trial balance, vendor list, chart of accounts, employee list and item list.
Some of the many enhancements implemented based on customer suggestions include pop-up calendars, account lists that show most recent transactions first, and the option to sort accounts numerically or alphabetically. NetLedger 2.5 also includes a set of sample data that customers can use during the 30-day free trial period to experience for themselves NetLedger's simple design and flexible accounting functionality.

For more information about NetSuite please visit our Web site at www.netsuite.com.

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