What is NetSuite Financial Reporting?
NetSuite financial reporting gives finance and accounting teams powerful tools to analyze and display data. Save time with prebuilt financial reports that are easily tailored to highlight specific results. Develop custom reports with multiple versions using the right layout for each audience. Combine financial, statistical and operational data with multidimensional analytics to glean new insights into performance. With NetSuite, you don't just get reporting — you get a comprehensive view of your business.
Identify trends as they develop, take action and monitor results in real time. Diagnose financial issues on the fly, and drill down to individual transactions to quickly diagnose and correct problems.
Before NetSuite, hours were spent each month creating profit and loss statements and reports for individual business entities, then adding them to Excel and consolidating data for leadership. Now, I can get all that by clicking a button. It's night and day.
NetSuite Financial Reporting Benefits
NetSuite Financial Reporting Features
Configurable Financial Reports
NetSuite provides hundreds of standard reports, including various financial statements pre-formatted to meet country-specific requirements. Standard layouts are highly flexible and can be modified by filtering, grouping and sorting data, allowing greater control over how information is organized. Reports can also be configured to display specific GL accounts, transaction types or custom field values.
Report snapshots provide a high-level summary of reports with links to underlying data and are available for both prebuilt and custom reports. Summaries can be added to dashboards, allowing individual users to monitor the financial details they care about without needing to view multiple reports.
Multidimensional analysis allows you to evaluate financial performance at a more granular level than is possible with standard reporting techniques. Dimensions are custom data elements that link organizational characteristics to financial transactions. Track revenue, margin and other metrics by division, territory, channel, product and other important operational criteria. Analyze the cost to serve individual customer accounts to better align service levels with profit potential.
Multiple Reporting Standards
NetSuite's multi-book feature allows companies to maintain multiple sets of books with different rules to comply with various accounting standards, tax codes and reporting requirements. Create before and after versions of the same report to show the impact of accounting changes on results.
Challenges NetSuite Financial Reporting Solves
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