Complete Financials with Advanced Billing
Complete Financials with Advanced Billing. Financials are complex in any industry and they are quite complex in the services industry. The stumbling block for most services companies is managing billing schedules, and ensuring compliance. Few financial packages provide these tools, forcing companies to manage these complexities offline in spreadsheets or in third party standalone packages. With NetSuite you have one financial system that manages accounting and complex billing —so there's no more double entry.
Advanced Billing
NetSuite automates complex billing schedules and gives you complete visibility into future billings and cashflow. Once contract terms are set up in NetSuite, invoices are automatically created based on those terms. Advanced Billing supports multiple billing models including milestone, time and expense, percent complete and fixed fee more.
Revenue Recognition
NetSuite supports broad revenue recognition capabilities, important to many services companies, including percent complete allowing companies to recognise revenue in conjunction with the completion of a project. Software companies can even manage both GAAP revenues and billings separately—a critical operation for most software companies.
Deferred Revenue Management
NetSuite lets you recognise deferred payments within regulations and guidelines, all within NetSuite financials. Deferred revenue reports deliver detailed data on both posted and forecasted revenue. NetSuite gives you easy access to detailed historical and future views for more accurate business management and planning.
Pricing
NetSuite makes it easy-to- manage sophisticated pricing models. NetSuite supports standard, volume, promotional, client, industry specific pricing, and more in an easy-to-manage matrix.
Revenue Forecasting
NetSuite takes the guess work out of revenue forecasting. With all aspects of revenue management managed in NetSuite, and not offline in spreadsheets and third party systems, your revenue forecasts will be based on consolidated, real-time data for accurate, confident forecasting. Unlike standalone CRM solutions, NetSuite lets you see revenue from both your sales pipeline and existing client base.
Multiple Budgets
Business applications sold to small and midsize firms rarely provide budgeting tools for the real-world financial planning complexities they face. NetSuite's budgeting tools address those needs with multiple budgets for tracking different scenarios, the ability to easily create new budgets from existing budgets or even from actual results and more customisable budget reports. And in order to provide maximum flexibility, firms can work on their budgets offline in a spreadsheet and import the results into NetSuite.
GAAP & Regulatory Compliance
As a single application with a complete set of audit trails, NetSuite makes it simpler to maintain compliance, regulations and standards. NetSuite facilitates compliance by supporting internal controls, providing accurate, timely reporting and supporting individual accountability through a complete audit trail of all processes and every transaction.
Complete Financials Foundation
NetSuite accounting includes full General Ledger, Accounts Payable and Receivable, multiple budgets, multi-currency, online bill pay, allocations, and multi-company consolidations all with real-time reporting. Now you can manage your entire financial entity in one system. NetSuite's integrated financial management greatly improves the productivity of finance departments in service companies. Greater efficiency from integration, real-time tracking and reports, and auditing tools reduce the overhead that typically burdens services companies.
Complete Procure-to-Pay Purchasing
NetSuite lets you move from manual, paper-based purchasing to lower cost, higher control automated purchasing. NetSuite streamlines purchasing saving you money that goes straight to your bottom line.
Standard and Customised Reporting
NetSuite provides standard reports to track your project and firm's financials. Streamlined customisation quickly puts the precise information you need at your fingertips to make smarter, faster business decisions.
Full Application Integration
NetSuite is a process-centric application that operates in real-time. It has been built from the ground up as a single integrated applications that is highly modular. It meets the specific needs of service companies large and small.
