NetSuite’s Advanced Financials Module empowers businesses to optimize financial operations, ensure compliance, and gain real-time insights. Tailored for complex financial needs, it integrates seamlessly with NetSuite ERP. Here’s a rundown of its key features
General Ledger
Flexible, multi-dimensional chart of accounts supports detailed tracking across departments, locations, and subsidiaries, enabling customized reporting and analysis
Accounts Payable and Receivable
Automate invoice processing, payment scheduling, and collections with real-time visibility into cash flow, reducing manual errors and improving efficiency
Budgeting and Forecasting
Create detailed budgets and rolling forecasts using historical data and predictive analytics, aligning financial plans with business goals
Revenue Recognition
Automate compliance with ASC 606 and IFRS 15 standards, managing complex revenue schedules for subscriptions, contracts, and multi-element arrangements
Fixed Asset Management
Track, depreciate, and manage fixed assets with automated calculations, ensuring accurate valuation and compliance with accounting standards
Multi-Book Accounting
Maintain multiple accounting books for different standards (e.g., GAAP, IFRS) within a single system, simplifying reconciliation and reporting
Expense Allocations
Distribute expenses across departments or projects automatically, improving cost accuracy and operational insights
Financial Reporting and Analytics
Access real-time dashboards, customizable reports, and drill-down capabilities to monitor KPIs, cash flow, and profitability
Close Management
Streamline period-end close processes with automated workflows, reconciliations, and audit trails, reducing close times
Global Financial Consolidation
Consolidate financials across subsidiaries in multiple currencies, ensuring compliance and accuracy for global operations
Integration with Planning and Budgeting
Seamlessly connect financial data to NetSuite’s Planning and Budgeting module for strategic decision-making and scenario modeling
Benefits
Reduces manual processes through automation
Enhances compliance with global accounting standards
Provides real-time insights for faster, data-driven decisions