In NetSuite, “Charge-Based” billing type is a method of billing clients for projects. Charge-Based billing is used when billing clients for actual costs incurred, plus a markup. This billing type is commonly used for projects with variable costs, such as consulting or professional services. In NetSuite, you can set up charge-based billing at the project… Continue reading Charge Based Billing in Project
Category: Project Management
Attach Contacts to Basic Projects
When you create a basic project record, the contacts on the customer are not copied to the new project record. To attach a contact to a saved project record: Go to Lists > Relationships > Customers. Click Edit next to the project you want to attach contacts to. Click the Relationships subtab. In the Contact field, select a contact. You can also… Continue reading Attach Contacts to Basic Projects
Requirement Sizing
Understanding Requirement Sizing and Its Role in Capacity Planning In project management, software development, and system implementation, requirement sizing plays a pivotal role in determining the resources, effort, and timelines needed to successfully deliver the project objectives. This process involves breaking down project requirements into manageable components, estimating the necessary resources, and integrating these insights… Continue reading Requirement Sizing
Identifying a Vendor as a Project Resource
When you mark a vendor as a project resource in NetSuite, you enable them to be assigned to projects and tasks. This feature is particularly useful for subcontracted work. Here’s where you can select a vendor marked as a project resource: Project Records: On the Resource tab, you can choose the vendor from the Name dropdown. Project… Continue reading Identifying a Vendor as a Project Resource
Is it possible to associate employees from multiple subsidiaries as resources to a project from another subsidiary?
In NetSuite OneWorld, you can indeed associate employees from multiple subsidiaries as resources to a project from another subsidiary. Assigning Subsidiaries to Employees: By default, when you specify a subsidiary on an employee record, that employee can access only records associated with that subsidiary. However, you can grant an employee access to data for additional… Continue reading Is it possible to associate employees from multiple subsidiaries as resources to a project from another subsidiary?
Product based and Service based Companies
Being a product-based company can offer several advantages over being service-based. Here are some key benefits: Innovation and Development: Product-based companies are often driven by innovation, focusing on developing new products or improving existing ones. This can lead to the creation of groundbreaking technologies and solutions that have a tangible impact on users’ lives. Scalability: Products… Continue reading Product based and Service based Companies
Understanding Project Billing Types
Project Billing Types In NetSuite, project billing types refer to the methods used to invoice customers for project-based work. These billing types are crucial for managing cash flow and profitability, especially for businesses that engage in long-term projects with specific outcomes and deliverables. Types Time-and-Materials Billing: Under this billing type, customers are billed for the… Continue reading Understanding Project Billing Types
Is it Possible to associate multiple subsidiaries to a single Project in NetSuite?
NetSuite’s standard functionality restricts a project to be associated with only single subsidiary, single currency and single customer. However, there are some workarounds that can be implemented to meet the client’s requirement of billing a project under different subsidiaries over different periods. Here are the potential solutions: Create two separate projects for the two subsidiaries… Continue reading Is it Possible to associate multiple subsidiaries to a single Project in NetSuite?
Is it possible to associate employees from multiple subsidiaries as resources to a project from another subsidiary?
In NetSuite, it is possible to associate employees from multiple subsidiaries as resources to a project from another subsidiary. This can be done by leveraging NetSuite Oneworld’s capabilities for handling multi-subsidiary operations. Here’s how this works: Employee Record Assignment: Typically, an employee is associated with a single subsidiary on their employee record. However, if an… Continue reading Is it possible to associate employees from multiple subsidiaries as resources to a project from another subsidiary?
Understanding Charge Based Billing and Generation of Charges
Charge Based Billing Charge-based billing provides a flexible, rules-based approach to track project activities and automatically generate charges that can be included on invoices. Companies create charge rules specific to each project or contract. These rules define how charges are calculated based on various factors such as milestone completion, project progress, time, expenses, or fixed amounts. Common Challenges… Continue reading Understanding Charge Based Billing and Generation of Charges