NetSuite Accounting Solutions for Businesses

NetSuite ERP includes SuiteGL, a cloud-based general ledger that outperforms your typical one-size-fits- all GL. NetSuite General Ledger gives finance departments more flexibility in their accounting software with new customization features. 

What NetSuite's Modern General Ledger Does For Your Business: 

• Lets users add custom GL impact lines to transactions such as invoices or vendor bills across single or multiple accounting books, eliminating the need for manual journal entries 
• Allows Finance teams to define unlimited custom General Ledger segments such as profit center, fund, program, product line and more, in addition to the standard subsidiary, class, department and location segments.  
• NetSuite's Multi-Book accounting capabilities eliminate data entry replication and reduce the need for error-prone manual adjustments to your accounting and reporting processes that are created when managing unique sets of books per accounting standard.  
•  Using pre-built mapping capabilities between your primary and secondary chart of accounts, as well as book specific functional currencies, the NetSuite Multi-Book engine can record all book-specific activity based on a single business transaction from the General Ledger, revenue recognition, expense amortization, depreciation, P&L allocations and more. 

What NetSuite's Accounts Payable Solution Can Do For Your Business:  

• Automate the calculation of discounts and eliminate manual data entry and associated errors and minimize the time and effort it takes to process bills from vendors. 
• Simplify and automate exception processing when invoices do not match purchase orders or receipts. 
• Improve payment controls, no bill is lost, forgotten or paid twice and no fraudulent invoices are paid with real-time visibility throughout the A/P process. 
• Retrieve bills, item receipts, vendor contracts that are attached to each vendor and/or individual AP transaction and improve reconciliation, streamline accrual processes and produce more-accurate financial statements. 
• Access the SuiteApps marketplace where hundreds of innovative third-party solutions that help integrate and extend NetSuite with industry-specific solutions.

What NetSuite's NEW Accounts Receivable Can Do For Your Business:  

• Streamline operations and instill corporate and fiscal discipline by automating the retrieval and presentation of billing information from diverse sources. 
• Generate recurring invoices for easy subscription management and send invoices by email and offer even more payment options. 
• Automatically post order transactions to general and AR ledgers with accurate tax calculations on each invoice for automated tax processing and billing. 
• Provide customers with self-service access to real-time information relating to purchase orders, inventory and payment information. 
• Get the insights you need—configurable dashboards, reports and KPI's provide a real-time view into customer aging, invoice analyses, recurring invoices, deferred revenue, exception reports to flag account anomalies. 
• Access the SuiteApps marketplace where hundreds of innovative third-party solutions that help integrate and extend NetSuite with industry-specific solutions. 

NetSuite’s platform offers several payment processing options to capture funds and disburse payments. Easily connect your accounts receivable and accounts payable processes with third-party payment systems, processors, and financial institutions to collect funds and make payments. NetSuite handles processing activities including invoice payments from accounts payable, settlements against credit card accounts and bank accounts for accounts receivable, and bank account transfers. This automation and consistency streamlines your business. In turn, you’ll notice your payments are made on time efficiently and your books are always accurate, updated in real time. 

 What NetSuite's Electronic Payment Solutions Can Do For Your Business:  

• EFT (Electronic Funds Transfer) 
  Allow customers to authorize the transfer of funds from their bank accounts to your bank accounts to pay their invoices for simplified payment processing. 
• Customer Credit Card Processing 
  NetSuite’s end-to-end credit card processing efficiently handles credit card payments for both sales orders and website orders.
• Online Bill Pay 
  Make payments without manually printing, signing, and sending checks.
• Google Checkout 
  Use Google Checkout to capture funds when processing orders from your webstore. Offering Google Checkout is offering a simple payment method to your customers.
• Direct Deposit for Payroll 
  Use the direct deposit feature to disburse payroll funds directly to employees’ bank accounts.
• PayPal Express Checkout 
  Make PayPal an option for your customers. Use PayPal Express Checkout to capture funds if you process orders from a webstore.
• Electronic Payments 
  NetSuite Electronic Payments is freely available to all NetSuite customers. This module provides electronic banking functionality including ACH, EFT payments, direct debit collections, check fraud prevention with Positive Pay, and more.
• ACH Processing 
  ACH (Automated Clearing House) smoothly processes financial transactions through the ACH Network for fast, reliable funds capture and disbursement.

What NetSuite's Tax Engine Will Do For Your Business: 

• Supports tax calculations at multiple global levels and locations for over 50 countries and multiple currencies. 
• Flexible tax engine automates calculation of Canadian HST, Mexican IVA, German Mwst, Philippines VAT, Australian GST and more. 
• Cross border sales and Intrastate reporting across all EU countries, including online capabilities. 
• Handle local taxes across subsidiaries that allows for multiple tax schedules for everything from GST to VAT, to consumption tax or general sales tax. 
• The right rate is automatically applied to every transaction every time. 
• Offers SuiteTax API enabling select third party tax solutions to easily integrate with NetSuite. 
• Access the SuiteApps marketplace where hundreds of innovative third-party solutions that help integrate and extend NetSuite with industry-specific solutions. 

What NetSuite's Fixed Asset Management Can Do For Your Business:  

• Manage the complete asset lifecycle and easily report on all fixed assets and easily track depreciating or non-depreciating company assets. 
• Completely integrate asset management with accounting and eliminate manual effort and multiple spreadsheets. 
• Leverage support for all standard depreciation methods and create and customize unlimited depreciation methods as needed. 
• Depreciation and asset retirements are directly posted to NetSuite accounts which allows you to comprehensively report across assets, valuation and depreciation. 

With NetSuite's Cash Management solution, you can... 

• Access a complete solution for addressing critical planning, processing and reporting requirements of global treasury units. 
• Gain real-time insight into global transactions across bank accounts and credit cards. 
• Manage cash across global locations and entities in real-time. 
• Monitor and forecast cash requirements, perform automated bank reconciliations, distribute payments efficiently and securely and automatically generate accounting entries. 
• Access the SuiteApps marketplace where hundreds of innovative third-party solutions that help integrate and extend NetSuite with industry-specific solutions.