Author: Rosemol Joe

3 Financial Statements

These 3 statements are affected by close to every action taken in your Finance & Accounting department 📄 𝐈𝐍𝐂𝐎𝐌𝐄 𝐒𝐓𝐀𝐓𝐄𝐌𝐄𝐍𝐓 (also known as Profit & Loss) This represents everything in terms of what your company is EARNING… as well as what your company is SPENDING. Here are the major sections (and what they mean): REVENUE… Continue reading 3 Financial Statements

Custom Lists

A custom list is a list of values that you can use in custom fields on your forms and records. Custom lists enable you to set up predefined choices for your employees and customers to select when entering transactions and records. Important Custom lists are intended for use with small, fixed, related sets of data.… Continue reading Custom Lists

Managing Multiple Source of Customer Data – NetSuite CRM

Many businesses fail to provide consistent and relevant experiences because they are unable to bring together all the different sources of customer data throughout their company. If you break it down, customers typically interact with your business in 4 areas: Sales, Marketing, Commerce and Service. The sales team has the most direct contact with business… Continue reading Managing Multiple Source of Customer Data – NetSuite CRM

NetSuite Consolidation – Best Practices

Here are some best practices to consider when performing consolidation in NetSuite: Standardize Chart of Accounts: Maintain a standardized chart of accounts across all subsidiaries to ensure consistency in financial reporting and facilitate the consolidation process. Intercompany Transactions: Implement proper procedures for recording and reconciling intercompany transactions to ensure accurate elimination during consolidation. Use NetSuite’s… Continue reading NetSuite Consolidation – Best Practices

NetSuite Consolidation

Consolidation in NetSuite refers to the process of combining financial information from multiple subsidiaries or business units into a single, unified view. NetSuite provides features and functionality to streamline and automate the consolidation process, allowing organizations to generate consolidated financial statements and reports. Key points about consolidation in NetSuite: Multi-subsidiary Management: NetSuite enables organizations to… Continue reading NetSuite Consolidation

Different types of NetSuite User Licenses

NetSuite has two different types of NetSuite User licenses. Those are as follows: NetSuite Full Access User A NetSuite Full Access user is an account with unrestricted access and permissions to all areas and functions within the NetSuite ERP system. They have complete control over financials, sales, purchasing, inventory, and other core business operations. Few… Continue reading Different types of NetSuite User Licenses

Features Available with NetSuite OneWorld

Following are the major features of OneWorld we get compared to NetSuite ERP version Management of multiple subsidiaries, business units and legal entities Support of consistent processes across countries Unlimited (dependent on customer’s requirements) subsidiaries in a single country for a single currency Includes 1 country/currency combination. Comprehensive Language Management Support for 27 different languages… Continue reading Features Available with NetSuite OneWorld

NetSuite Inventory and Order Management Modules

NetSuite Advanced Inventory Management adds complex inventory management functionality, including demand-based inventory replenishment, multi-location inventory management, matrix item, lot and bin management and serialized inventory. NetSuite Smart Count automates and improves the efficiency and accuracy of the inventory count process. NetSuite Advanced Order Management provides allocation orchestration by automating the order promising, allocation, orchestration and execution processes. Grid… Continue reading NetSuite Inventory and Order Management Modules

NetSuite’s unique selling proposition (USP)

NetSuite’s unique selling proposition (USP) is its cloud-based, fully integrated business management software that provides organizations with a single, unified platform to manage all their business processes. Some of the key USPs of NetSuite are: Complete Business Management Solution: NetSuite is a comprehensive cloud-based solution that enables organizations to manage their financials, inventory, order management,… Continue reading NetSuite’s unique selling proposition (USP)