NetSuite’s financial management solution is used by thousands of businesses across to globe, helping them to manage all their accounting needs. NetSuite’s software will accelerate financial close, provide strong expense management, offer streamlined and auditable revenue management and give complete real-times visibility into financial performance across the entire business.
The financial management modules can be broken down in ten “sub-modules”, each providing a unique benefit to companies across multiple industries. Elevate2’s expertise in NetSuite financial management modules enables our team to effectively and accurately help businesses analyse and decide which ones are needed based on their unique requirements.
NetSuite Advanced Financials
The advanced financials bring added financial management functionality to NetSuite for budgeting, expense allocations and amortisation and statistical accounts. These additional capabilities help ensure strong financial management by managing and monitoring budgets versus actuals. It enables expenses to be allocated by GL account, class, department and location while linking amortisation schedules to bills, bill credits, jobs and more.
SuiteBilling adds invoice and billing management to support transactions, subscriptions and more. It allows businesses to manage revenue accurately and in accordance with the latest revenue recognition standards. The module harmonises complex processes and transforms billing into a strategic differentiator by placing it at the core of the business – its centralised framework allows customers to be innovative and profitable in today’s competitive landscape.
NetSuite Revenue Management
Revenue management helps companies comply with revenue recognition regulations and reports results in a timely manner by automating revenue forecasting, allocation, recognition, reclassification and auditing. It enables businesses to close quickly with confidence and reports financials faster and accurately.
NetSuite Planning & Budgeting
Planning and budgeting help both company-wide and departmental budgeting/planning with modelling capabilities, approval workflow and reporting. It helps automate time-intensive processes and instead centralises company financial and operational data so finance teams can quickly produce budgets and forecasts. Finance teams can gain control, collaboration and visibility across the entire organisation, giving a scalable solution.
NetSuite Multi-Book Accounting
Multi-book accounting allows finance departments to create transaction records while automatically posting the activity to multiple books and issue financial statements as per all relevant accounting standards.
OneWorld delivers business management functionality for companies with multinational and multi-subsidiary operations. It enables finance teams to adjust to country-specific compliance, reporting or currencies whilst providing real-time global business insight. This product allows businesses to remain innovative and data-driven and provides opportunity to scale rapidly.
NetSuite Dunning Letters
Set up automated dunning processes in NetSuite to help collect accounts receivable by sending reminder letters before payments. NetSuite’s dunning letters simplifies the communication process, increasing efficiency and effectives for collections staff.
NetSuite Fixed Assets Management
This is used for company-owned and leased assets, providing flexible depreciation and amortisation schedules and detailed asset reporting. It offers end-to-end lifecycle management across depreciating and non-depreciating assets.
NetSuite Electronic Bank Payments
NetSuite’s electronic bank payments securely automates electronic funds transfer payments and collections. It helps ensure that employees and vendors are paid on time and customer bills are settled automatically, saving time and eliminating checks, postage and envelopes.
NetSuite Contract Renewals
Automates the contract renewals process, saving time and improving efficiency.