NetSuite Aerospace and Defense Accounting Software

Accounting software for aerospace and defense companies can simplify compliance with complex industry regulations while meeting the detailed financial requirements of government and commercial contracts.

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What is Aerospace and Defense Accounting Software?

Accounting software for aerospace and defense companies is designed to handle complex project and contract financials while helping firms comply with strict government regulations. Features such as detailed cost tracking, automated billing, and accurate revenue recognition for long-term, milestone-driven contracts, along with enhanced security features, help drive operational excellence and safeguard sensitive data.

Achieve secure, precise financial oversight with NetSuite Accounting

AI-powered finance

Aerospace and defense companies with long-term government contracts need real-time tracking, tools to automate compliance with stringent regulations, and top-notch cost-tracking accuracy. NetSuite cloud accounting software simplifies the process of recording transactions, managing payables and receivables, and closing the books with AI capabilities that boost process automation.

NetSuite Aerospace and Defense Accounting Software features

Aerospace and defense companies are challenged by a high level of complexity, regulations, and demand for precision. NetSuite’s accounting features help these critical providers manage complex financial requirements, support regulatory compliance, improve cost controls, and deliver the reporting and visibility needed for program and contract management.

Project-based financial management

Track project costs, revenue, and profitability for programs, contracts, or work orders—vital capabilities for managing government and commercial projects.

Advanced revenue recognition

Automate and simplify processes to comply with different revenue recognition standards, such as ASC 606/IFRS 15. NetSuite helps support accurate handling of long-term, milestone-based contracts.

Comprehensive audit trails

Support audit readiness and compliance with strict industry regulations with detailed logs of all financial transactions and changes.

Multicurrency and multi-entity support

Handle transactions in multiple currencies and manage accounting on a subsidiary or business unit level to facilitate global operations and compliance with multinational contracts.

Budgeting and forecasting

Create dynamic budgets and perform variance analysis and forecasting for projects, departments, or companywide initiatives.

Integrated procurement and payables

Connect purchasing with accounting so that all spending is tracked and linked to appropriate projects and contracts.

Contract and grant management

Record and manage diverse types of private and government contracts, grants, and complex billing structures such as progress billing, cost-plus, and fixed price.

Role-based access control

Support regulatory and cybersecurity requirements by limiting sensitive financial data access to only authorized personnel.

Regulatory compliance support

Automate generation of required financial reports and documentation to comply with federal acquisition regulations, ITAR, DFARS, and other industry mandates.

Customizable dashboards and reporting

Gain real-time financial health snapshots, KPI tracking, and custom reporting for executive oversight and granular analysis.

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NetSuite has really allowed us to be able to scale so much faster and so much more profitably than we would have been able to otherwise.

Barak Ben-Gal, CFO, Saildrone

NetSuite Aerospace and Defense Accounting Software benefits

Comprehensive project and contract visibility. Gain real-time insights into project and contract financials for improved cost management, progress tracking, and profitability analysis.
Automated revenue recognition. Support complex revenue recognition scenarios, including milestones and percentage of completion, and more easily comply with industry standards such as ASC 606/IFRS 15.
Easier regulatory compliance. Robust audit trails, documentation, and automated compliance workflows help firms meet strict industry requirements such as ITAR, DFARS, DCAA, and AS9100.
Integrated financial and operational data. Eliminate data silos by connecting accounting, procurement, project management, and manufacturing for a unified, accurate financial picture.
Real-time financial reporting and analytics. Access customizable dashboards and reporting tools for up-to-date views of key metrics—essential for fast, informed decision-making.
Multi-entity and multicurrency management. Simplify financial consolidation and reporting across subsidiaries or international operations with support for various currencies and business units.
Improved cost control and budgeting. Track actual vs. budgeted costs on projects, analyze variances, and adjust resources proactively to keep programs on track and profitable.
Secure, role-based access. Protect sensitive financial data by controlling user access and ensuring compliance with security mandates.
Enhanced audit readiness. Maintain comprehensive records of financial transactions to ease audits and regulatory reviews.

Challenges NetSuite Aerospace and Defense Accounting Software solves

Complex project and contract accounting. Complex, multiyear aerospace and defense projects require robust project-based accounting that automates allocation of expenses and revenue and simplifies progress billing.
Stringent regulatory compliance. Automated compliance checks, complete audit trails, and reports tailored to industry regulations can simplify audits related to government mandates such as ITAR, DFARS, and DCAA.
Real-time financial visibility. Real-time dashboards and customizable reports give leaders instant access to financial health across projects, contracts, and business units, driving more effective decision-making.
Multi-entity and multicurrency management. Seamless management of accounting across entities and currencies and automation of intercompany eliminations can help produce timely, consolidated financial statements for global operations.
Budgeting, forecasting, and cost control. Linking budgeting and forecasting with project accounting and providing variance analyses and early warnings can help prevent overruns and allow for adjusting forecasts as scopes change.
Fragmented data across systems. Centralizing accounting and financial data and breaking down silos for unified, accurate information flow across the company can make reconciliations, reporting, and compliance easier and less time-consuming.

SuiteSuccess – Your proven path to success

Leveraging more than 25 years of experience working with tens of thousands of organizations, across all industries and business sizes, our SuiteSuccess customer lifecycle methodology helps customers transform their business. It starts by building an AI-powered, integrated business suite with industry-specific solutions. Then we engage with your business to ensure that we’re addressing your specific needs and guiding you along the way on how to best consume and optimize NetSuite to solve challenges of today and the future. This approach helps ensure customers experience faster time-to-value, better ROI, and greater employee adoption.

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How much does NetSuite Aerospace and Defense Accounting Software cost?

Companies of every size, from prerevenue startups to fast-growing businesses, have made the move to NetSuite. Looking for a better way to run your business but wondering about the cost?

Users subscribe to NetSuite for an annual fee. Your license is made up of three main components: core platform, optional modules, and number of users. There is also a one-time implementation fee for initial setup. As your business grows, you can easily activate new modules and add users—that’s the beauty of cloud software.

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