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Financials:
Having access to key financials and reports is critical to your
success. With NetSuite, you get comprehensive tools that allow
you to control all your financial data and processes. And since
NetSuite financials are integrated with your sales, support,
shipping and receiving functions, you get real-time financial
data directly from those departments, enabling faster, smarter
business decisions. |
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| FINANCIALS FEATURES: |
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General
Ledger, Accounts Receivable and Accounts Payable:
Gain full visibility into your payables and
receivables with real-time access to outstanding invoices
and bills. And once customers receive your goods or
services, you can quickly generate invoices from sales
orders with just one click, reducing paperwork and improving
efficiency.
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Budgeting:
Use NetSuite's
budgeting capabilities to capture your business objectives
for the coming financial year. You can also generate up-to-the-moment
comparative reports to evaluate your spending. New functionality
includes multiple budgets and import/export to Microsoft
Excel®.
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Multi-currency
Transactions and Reporting: Companies that
have offices in other countries, or those that frequently
do business with foreign companies, must record and track
transactions in foreign currencies. The automated currency
revaluation feature simplifies the period-end close process
by generating adjusting journal entries to reflect exchange
rate fluctuations on any open accounts payable or receivable
transactions. Plus, you can price your items in multiple
foreign currencies to ensure customers see only current
exchange rates and prices.
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Revenue
Recognition: Some businesses defer income from their sales
and only recognise the revenue as services are delivered.
NetSuite’s revenue recognition feature allows you
to attach amortisation schedules to your sales; a reminder
notifies you when it is time to recognise revenue and
post a journal entry for all the schedules that are due
in that period. There are also reports to provide detailed
visibility on the status of your deferred revenue.
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Online
Bill Pay: NetSuite's banking features allow
for an unlimited number of bank accounts. You can write
and print checks, or use online bill pay to transfer funds
electronically. You can also import bank statement data
and reconcile it with accounting transaction data.
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Allocations:
Allocations
can be set up as dollar amounts or on a percentage basis,
and post the appropriate journal entry for you. You can
also schedule an allocation to recur, like a memorised
transaction, and get a reminder when it is time to post
an allocation journal.
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Multi-company
Consolidations: Multi-level businesses, such
as holding companies, can now consolidate all the financial
data of their individual business units into a single
set of financial statements. The consolidated statements
provide a way to drill down into the data—even to
the transaction level. As a result, you can better understand
how each business unit is performing.
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- Cash and Accrual-based Reporting
- Financial Statements
- Customer and Vendor Statements
- Accounting Period Management
- Always-on Audit Trail
- Sales Orders and Estimates
- Job and Project Tracking
- Invoicing
- Bank Reconciliation
- Check Writing
- Online Bill Payment
- Tax Liability by Dates
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