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Financials: Having access to key financials and reports is critical to your success. With NetSuite's financial management services, you get comprehensive tools that allow you to control all your financial data and processes. And since the financial management services in NetSuite financials are integrated with your sales, support, shipping and receiving functions, you get real-time financial data directly from those departments, enabling faster, smarter business decisions. |
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FINANCIAL MANAGEMENT
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Amortisation Schedules: Amortisation Schedules allow you to set up a schedule to amortise expenses over time. They are very similar to Revenue Recognition Schedules, but rather than Invoices and Credit Memos, amortisation schedules are linked to Bills, Bill Credits and Journal Entries. With Amortisation Schedules, you can streamline many redundant steps in your accounting processes, such as amortising prepaid expenses. Amortisation Schedules may also be linked to Jobs, so you can amortise your expenses in proportion to the Job's percentage of completion.
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NetSuite Advanced Project Accounting: NetSuite Advanced Project Accounting lets you manage your professional services organisation more effectively with integrated project/job tracking and reporting. With NetSuite, you can automate project/job creation when specific services are sold, and automatically track percent complete and time budgeted and spent on project tasks. Reports for utilisation and backlog help you analyse your employees' workload and efficiency. Estimated job profitability reporting compares your projected loaded labor cost on projects against expected billings.
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General Ledger, Accounts Receivable and Accounts Payable: Gain full financial visibility into your payables and receivables with real-time access to outstanding invoices and bills. And once customers receive your goods or services, you can quickly generate invoices from sales orders with just one click, reducing paperwork and improving efficiency.
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Advanced Billing: NetSuite's Advanced Billing feature makes contract billing faster, more convenient, and easier to manage. Many businesses invoice customers for a sale over a range of time, or a contract term. For example, a customer might commit to a one year membership billed monthly, or a three year service contract with quarterly invoices. Keeping track of billing schedules and managing the invoicing process (knowing when it is time to invoice, how much to invoice...) can be a major challenge for such companies, and having the financial management services to do so effectively is critical to successfully managing your revenue stream.
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Budget Management Services:
Use NetSuite's budgeting capabilities to capture your business objectives for the coming financial year. You can also generate up-to-the-moment comparative reports with our financial management software to evaluate your spending. New functionality includes multiple budgets and import/export to Microsoft Excel®.
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Multi-currency
Transactions and Reporting: Companies that have offices in other countries, or those that frequently do business with foreign companies, must record and track transactions in foreign currencies. The automated currency revaluation feature simplifies the period-end close process by generating adjusting journal entries to reflect exchange rate fluctuations on any open accounts payable or receivable transactions. Plus, with NetSuite's financial management capabilities you can price your items in multiple foreign currencies to ensure customers see only current exchange rates and prices.
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Revenue
Recognition: NetSuite is the first hosted application to bring revenue recognition management to mid-size companies. NetSuite's financial management services make it easier for companies to flexibly recognise revenue according to customer contracts and to maintain accounting control within GAAP and other reporting standards.
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Online
Bill Pay Services: NetSuite's banking features allow for an unlimited number of bank accounts. You can write and print checks, or use online bill pay to transfer funds electronically. You can also import bank statement data and reconcile it with accounting transaction data.
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Allocations:
Allocations can be set up as dollar amounts or on a percentage basis, and post the appropriate journal entry for you. With NetSuite's financial management services you can also schedule an allocation to recur, like a memorised transaction, and get a reminder when it is time to post an allocation journal.
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- Cash and Accrual-based Reporting
- Financial Statements
- Customer and Vendor Statements
- Accounting Period Management
- Always-on Audit Trail
- Sales Orders and Estimates
- Job and Project Tracking
- Invoicing
- Bank Reconciliation
- Check Writing
- Online Bill Payment
- Tax Liability by Dates
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