NetSuite Planning & Budgeting

NetSuite Planning & Budgeting (NSPB)

  • Scalability – built on the Hyperion. Planning / Essbase platform, a proven financial analytics solution.
  • Flexibility – driver-based what-if modeling, predictive analytics & full ad-hoc and free form analysis capabilities
  • Integration – seamlessly connect with NetSuite & Microsoft Office tools, such as Outlook and Excel

SuiteSuccess for NetSuite Planning and Budgeting

Trended Forecasting, including:

  • Revenue
  • OpEx

Financial Reporting, including:

  • Income Statement
  • Balance Sheet
  • Cash Flow

MS Office integration with SmartView

SuitePeople Payroll & HR

SuitePeople Payroll

Submit payroll minimum of two banking days before check date by
2pm PST. If service printed checks/paystubs are required submit three banking days before check date to account for delivery.

Payroll is funded the day before the pay date (Taxes & Direct Deposits. Third-party payments are created as a payroll payable. Paystubs are available in the employee center. If locally printing checks or paystubs these are in the print queue. All quarterly reports are sent via
secure dropbox.

Commit Payroll Batch > Payroll Automatically Transmitted >Funding Request > Direct Deposits >Trust Account for Taxes > Taxes Paid >Tax Reporting> Quarterly Reports>Annual Reports

SuitePeople HR

HR Reporting & Analytics – over 100 out-of-the-box reports & metrics covering all key HR processes

Employee Directory & Org Browser – intuitively navigate organization & team structure; Global Employee Records puts comprehensive data at your fingertips

Kudos – foster a positive work culture by enabling employees to publicly recognize colleagues for their contributions & achievements

Financial Management Challenges

BUSINESS VISIBILITY

  • Dashboard Metrics
  • Global Search
  • SuiteAnalytics

DISPARATE SYSTEMS

  • Integration
  • Consolidated Reporting
  • NetSuite Platform

CURRENCY & CLOSING

  • Checklist
  • Automation
  • Revaluation
  • Consolidation

FINANCIAL REPORTING

  • Audit Tracking
  • Automation
  • Scheduling
  • Alerts

FINANCIAL REPORTING

FINANCIAL

  • Income Statement
  • Balance Sheet
  • Cash Flow Statement
  • General Ledger
  • Trial Balance
  • Chart of Accounts
  • Realized Exchange Rate Gains
  • and Losses
  • Unrealized Exchange Rate
  • Gains and Losses
  • Transaction Details
  • GL Audit Numbering

RECEIVABLES

  • Customer Profitability
  • A/R Aging
  • A/R Payment History by Invoice
  • A/R Payment History by Payment
  • Sales Tax Report

PAYABLES

  • A/P Aging
  • A/P Register
  • A/P Payment History by Bill
  • A/P History by Payment
  • Open Bills

BANKING & BUDGETING

  • Bank Register
  • Cash Statement
  • Bank Reconciliation
  • Budget vs Actual

Financial Management

AR

  • Bill Orders
  • Payments
  • Reporting / AR Aging
  • Collections

AP

  • PO to Invoice
  • Payments / Checks
  • Reporting / AP Aging
  • Operational

FINANCIAL MANAGEMENT

CHART OF ACCOUNTS

CHALLENGES

Large COA which Makes Reporting Difficult

SOLUTIONS

  • Robust Segmentation
  • Allows for a Broad Range
  • of Financial Reporting

REPORTING

CHALLENGES

Manual, Time-Consuming Reporting and Lack of Visibility

SOLUTIONS

Cloud-Based, Single Database, Real-Time System with Alerts, KPI’s
and Reporting.

BUDGETING

CHALLENGES

Inability to Maintain Budgets and Track Performance

SOLUTIONS

Built-in Period Close Process and Checklist

General Ledger Reportable Segments

Main account +Coded/ defaulted to the transaction +Inherity linked to the transaction

Coded/ defaulted to the transaction

Company + main account + department + class+ location + user definable

Inherity linked to the transaction

item + customer/vendor+ project +employee+ user definable

Result: Immediate GL Impact

ompany + main account + department + class+ location + item + customer

PLANNING & BUDGETING

The SuiteSuccess NetSuite Planning and Budgeting

Trended Forecasting, including:

  • Revenue
  • OpEx

Financial Reporting, including:

  • Income Statement
  • Balance Sheet
  • Cash Flow

MS Office integration with SmartView

Complete budgeting and reporting solution

  • Automated data refresh and cleanse with NetSuite SuiteSuccess Planning and Budgeting General-Ledger Sync.
  • Create organizational budgets quickly, easily, and securely using Excel-based Smart View or the web interface.
  • Use pre-built statistical methods to improve your recommendation to management.
  • Output management and board-quality reports automatically utilizing pre-formatted templates or in dynamic Excel workbooks in Smart View with full MS Office functionality.
  • Leverage secure Excel or web interface to grant access to stakeholders and reviewers for approvals.

NetSuite Planning and Budgeting

  • Oracle Planning Technology – Flexible, Proven, Scalable
  • 100% Cloud Solution
  • MS Office Integration via Smart View
  • Dynamic data sync with NetSuite

Why NetSuite Planning and Budgeting?

Financial Data

  • Fully supported, pre-built, dynamic connector to NetSuite GL
  • Ensure up-to-date accuracy and data integrity

Scalability

  • Flexible Multi-Segment Reporting with near instant response
  • Create alternate roll-ups and ad hoc views in one model

Intelligence

  • Create alternate roll-ups and ad hoc views in one model
  • Out-of-the-box statistical projections to validate projections

Experience

  • Speed and ease of implementation with SuiteSuccess
  • Leading best practices incorporated throughout solution

Affordability

  • Lowest overall TCO
  • All-inclusive pricing, no additional support or maintenance

FINANCIAL REPORTS
FINANCIAL

  • Income Statement
  • Comparative Income Statement
  • Balance Sheet
  • Comparative Balance
  • Cash Flow Statement
  • General Ledger
  • Trial Balance
  • Chart of Accounts
  • Realized Exchange Rate Gains and Losses
  • Unrealized Exchange Rate Gains and Losses
  • Inventory Probability

SALES TAX

  • Sales Tax Liability By Agency
  • Sales Tax Liability By Tax Item
  • Sales Tax on Sales
  • Sales Tax Analysis
  • Form 1099-MISC

BANKING & BUDGETING

  • Bank Register
  • Budget Income Statement
  • Budget vs. Actual
  • Cash Statement

Suite people

Employee directory

  • Included with purchase of any SuiteSuccess ERP edition
  • Employee Directory portlet for use with Employee Center role; available for all NetSuite users
  • Employee Directory search and list with configurable display fields (phone, email, etc.)
  • Organization Browser with an interactive display of company hierarchy and structure

Financial management scope Confirmation

REPORTING DIMENSIONS

CHALLENGES

  • No BI Tools
  • Inflexible Reports

SOLUTIONS

  • Saved Searches
  • Unlimited Custom Fields

SUBSIDIARY MANAGEMENT

CHALLENGES

  • Disparate GL’s
  • No consolidated reporting

SOLUTIONS

  • Automated Eliminations
  • Non-sub Specific
  • Dashboards

TAX REPORTING

CHALLENGES

  • Manual Revaluations
  • Excel Consolidations

SOLUTIONS

  • Pre-built Integrations
  • Calculations are Automatic

TAX REPORTING

CHALLENGES

  • Manual Revaluations
  • Excel Consolidations

SOLUTIONS

Pre-built Integrations

Bank feed suiteApps

Calculations are
Automatic

Automate the daily upload of bank and
credit card data into NetSuite to aid in the
reconciliation process

Conveniently connect to multiple
supported banks & financial Institutions

9500+ supported banks & financial
institutions in US and Canada

Map financial institution accounts to
appropriate GL Accounts in NetSuite

Leverage Match Bank Data screen to
easily match & submit for reconciliation

SEGMENTATION & DIMENSTIONS

Optional Financial Segments

  • Department
  • Class
  • Location
  • Unlimited additional
  • segments

Segments are used to classify business operations and report financial
information in one or many of these dimensions

ROLE: Controller /Financial Analyst /Administrator

RECORD TO REPORT

ONEWORLD FINANCIALS

  • Manage multiple subsidiaries, business units and legal entities
  • Global accounting and real-time consolidated reporting
  • Comprehensive mutli-currency management
  • Configurable tax engine with localization built-in

AR : SALES ORDER INVOICING

  • Upon shipment, the A/R department is notified that the order can be billed
  • If a single invoice is generated, the Sales Order can be billed by the A/R Clerk. The Sales Order can be billed using one of three methods
  • The A/R Clerk uses dashboard alerts and/or NetSuite reports to actively manage A/R aging

CREATE VENDOR PAYMENTS PROCESS

  • Leverage aging reports and the accounts payable outlay portlet to easily forecast future payments
  • Create vendor payments in bulk with bulk manager approval or one-offs from the vendor bill
  • User-defined vendor bill variances allow for better management of payables related to PO’s and receipts

AP : CREATING VENDOR BILLS FROM POs

  • Utilize the Purchase Orders to Bill dashboard alert to identify purchases pending billing
  • There are three methods to create the Vendor Bill. Bills can be created in bulk using Bill PO’s.
  • The Bill can also be created from the PO Record or the Item Receipt
  • Once a Vendor Bill is entered, a 3-way match is performed.
  • The three transactions being compared are: PO, Item Receipt and Vendor Bill
  • If Landed Cost is tracked, this will be added to the bill

2 or 3 – WAY MATCH

  • Perform 2 or 3 Way match to identify cases where a vendor bill has a quantity or cost discrepancy between the bill, purchase order and/or item receipt
  • Set tolerance limits by item, vendor or subsidiary
  • Send bills with discrepancy through the approval

AP : PAYING VENDOR INVOICES

  • Once a Vendor Bill has been approved, the Bill can be paid
  • Utilize Dashboard Alerts to notify the A/P Clerk of Vendor Bills that are due
  • If there are Vendor Credits, they must be applied before the payment is processed

VENDOR BILLS

Vendor Bills created from:

  • Single PO
  • Multiple PO’s
  • Stand Alone Bills
  • PO with non-inventory items
  • 3-Way match rules run on Vendor
  • Bills
  • Users record actual landed costs as
  • they come in

VENDOR RETURNS

  • Items to be returned can be kept in a quarantine location
  • Always track vendor returns with a Vendor Return Authorization record (VRA)
  • Create new Purchase Orders for replacement parts
  • New Vendor Bills or Cash Refunds (Deposits) can be applied to existing Vendor Credits

INVOICE ENTRY

  • Invoice generation from Orders and Fulfilment records
  • Invoices can be emailed directly from NetSuite; email templates are customizable
  • Automatic General Ledger posting upon invoice entry
  • Billing Schedules* can create periodic invoices for Orders that need to be billed in separate
  • installments

CUSTOMER PAYMENT

  • Custom Saved Searches & Reminders notify users of invoices that are past due
  • Automatic emailing of thank you notes when payments are applied
  • Payments against invoices automatically update invoice status and aging reports
  • Credit Card authorizations with Merchant e-Solutions, CyberSource, and WorldPay

Solupay for NetSuite SuitePayments

Features:

  • NetSuite ERP (Includes Sales Orders, Cash Sales, Invoices, Customer Center)
  • Cost-effective, economical pricing
  • Supports SuiteCommerce and SuiteCommerce InStore
  • EMV-compliant chip-card hardware
  • Clover Mini from Solupay

RETURN TO CREDIT OVERVIEW

  • Return Authorizations should be created from the Sales Order, Invoice, or Cash Sale by the Accounting Department. If necessary, a Return Authorization can be manually created in NetSuite.
  • When items arrive, the Warehouse department creates an Item Receipt.
  • Dashboard alerts will notify the Controller of Return Authorizations pending credit.
  • The Credit Memo should be created from the Return
  • Authorization.

SUBSIDIARY STRUCTURE*

  • Real-time global business management platform for businesses that manage multinational and multi-subsidiary operations
  • Supports global compliance
  • Provides real-time global business insight

Financial Management

Reporting Dimensions

Challenges

  • Limited data classification
  • Too many GL accounts
  • Limited/inflexible reporting

Solutions

  • Financial segments to
  • provide granular reporting
  • Reduce the number of accounts
  • Range of built-in reports and searches that can be configured to suit business requirements

Reporting Dimensions

Challenges

  • Manual consolidation
  • Multiple systems or instances

Solutions

  • Continuous real-time
  • Consolidation
  • Real-time automated
    intercompany transacting
    IC Elimination
  • Multiple subsidiaries in a
    single account

Multi-Currency

Challenges

  • Lack of real-time visibility
  • Struggle to get granular
  • business information

Solutions

  • Automatic FX posting with real-time translation
  • Unrealized / realized exchange gains/losses
  • Revalue open currency balances

Financial Visibility

Challenges

  • Lack of real-time visibility
  • Struggle to get granular
  • business information

Solutions

  • Cloud-based, real-time
  • system with business
  • alerts and KPIs
  • Ability to report on business dimensions

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