NetSuite allows for both a Horizontal and Vertical view of financial reports which allows for a simplified Chart of Accounts. When setting up GL accounts, you can simplify the account structure by utilizing subsidiaries, locations and classes. Rather than have four expense accounts for each business, you can now have one account used for all business segments all while maintaining the visibility by segment that you need.  

We can help you generate financial reports that work for you. NetSuite allows you to customize and view reports by subsidiary, location, department or any other custom segment that you use to control your business. Comparison financials are a powerful tool for analyzing business performance and projecting the future. Standard reports include Balance Sheet, Income Statement, Cash Flow Statement, Budget Income Statement, Trail Balance. Allow our team to help you build the reports that work for you. 

When its budget season we can help take the stress out of the process. We can help you generate the needed reports by account activity for each department. Then once you have your budget complied we can help you quickly import the data file into NetSuite to allow budget to actual reporting through the next year. 

Journal Entries are essential for those miscellaneous transactions and accruals. We will help you understand how to set automatic journal reversals and setup memorized transaction reminders. Journals can also be attributed to your companies setup like subsidiary, location, classes or your custom segment.  

When you have multiple subsidiaries and have intercompany transactions or allocations you will need to move expenses between subsidiaries and eliminate certain transactions. We will help you setup the proper elimination subsidiaries and guide you through the process of creating these entries and eliminations. 

We can assist in the setup of NetSuite’s Electronic Payments SuiteApp to generate ACH payment files for upload to your bank and assist in the Positive Pay reporting for check writing.

Generating sales orders and accepting payments all from one system can be a huge time saver. We can help you setup and connect a credit card gateway and processing account to your NetSuite environment. Allow card payments to be accepted directly inside NetSuite as well as streamline the deposit process for your accounting team. We can help you choose the gateway that will work best for you and be a resource as you setup the processing account. 

Collecting Accounts Receivables in a timely manner is important. We can help you setup your A/R process for to be fully digital. We will work with you to setup workflows that allow you to email invoices to multiple customer emails addresses at once as well as setup automated emailed statements and notices to customers. We will guide you through credit limits and automatic overdue notifications that will help both your internal teams as well as your customers. 

We can assist in establishing solid internal controls for when it comes to accounts payable. Create a paperless matching system with drill down capability to see items receipts as well as vendor bills. Customize rules that fit your company and your level of desired control.