In the fast-paced world of finance, precision and insight are paramount. NetSuite Cloud Accounting Software, crowned as the 2017 Worldwide Leader in Cloud Finance and Accounting Applications by IDC, empowers businesses to conquer financial complexity with a suite of intuitive tools. NetSuite ERP, from crafting detailed reports to uncovering actionable metrics, NetSuite streamlines financial management, ensuring compliance and driving strategic growth. Key features and tools that can be used to prepare important financial documents are as follows:

Reports: NetSuite transforms reporting with over 70 pre-packaged reports, each customizable to align with your business needs. Imagine automating monthly profit and loss statements or quarterly balance sheets to effortlessly flow to your team’s inbox in .csv or .xls formats. These reports, accessible to authorized staff or board members, save time and enhance decision-making. Some of these reports include:

• Budget: NetSuite’s budgeting tool simplifies forecasting by enabling precise income and expense estimates, tailored to accounts like income, expense, or balance sheet. Create or import budgets in .csv format for customers, items, or projects, drawing from prior budgets or historical data to ensure accuracy and relevance.

• Pre-packaged reports: Covering essentials like balance sheets, income statements, cash flow statements, and more, these reports meet global accounting standards. Customize them by adding columns for unique properties and share securely with authorized users, ensuring compliance and clarity across sales, receivables, payables, and forecasting.

• Searches: NetSuite’s search functionality unlocks data with precision, letting you pinpoint single records via keywords or retrieve datasets using tailored filters. Save results for ongoing analysis, export them in .csv, .xls, or .pdf, or share via email, with reusable search definitions to streamline future tasks.

The search functionality requires users to have permission to view queried fields. The following methods can quickly find specific records:

A. Global search and quick find links: Enter keywords in the top search bar to scour your entire account or use the header’s quick find link to locate individual records of the same type swiftly.

B. Quick Search Portlet: Add a dashboard portlet to search records by ID or name, putting critical data at your fingertips.

C. Advanced Search: Activate advanced mode by selecting "Use Advanced Search" on a search page. Filter records with SQL-based expressions, sort, or group data for summary calculations, then store, export (.csv, .xls, .pdf), or share results via email or other platforms.

KPI: Key Performance Indicators (KPIs) in NetSuite ERP distill complex data into clear, actionable metrics, illuminating trends in costs, revenues, or cash flows. With over 70 customizable KPIs, businesses gain insights into forecasts, pipelines, orders, and financials. The following types of dashboard portlets are offered to display KPIs:

• KPIs portlet: Presents a concise summary line for each KPI, with clickable links to explore underlying data, fostering deeper analysis.

• KPI meter portlet: Visualizes KPI data with comparisons, date ranges, and thresholds, offering at-a-glance clarity.

• Trend Graph portlet: Displays KPI data as line graphs over time, with popup trend graphs accessible via icons in the KPI and KPI Scorecard portlets.

KPIs are role-based and feature-dependent, requiring appropriate access and enabled features within your NetSuite account.

Tools within NetSuite OneWorld account: For global enterprises, NetSuite OneWorld navigates the nuances of international reporting. Its exclusive Multi-Book Accounting tool maintains multiple accounting records for subsidiaries across countries; all tied to a single set of real-time transactions. This ensures seamless compliance with diverse regulatory and managerial needs worldwide.

Tools for extracting data for detailed analysis: NetSuite empowers deeper insights by enabling data extraction in .csv format, ready for analysis in Excel or other applications, with search results seamlessly exportable to spreadsheets.

SuiteAnalytics Connect: This module equips technical users with SQL-based access to NetSuite data via JDBC, ADO.NET, or ODBC drivers. Blend NetSuite data with external sources for advanced analysis, leveraging data warehousing and BI tools to uncover transformative insights.

Statistical accounting: Part of the Advanced Financial module, the Statistical Accounts tool tracks non-monetary data, integrating it into reports and income statements. It supports period-close tasks, journal entries, cost and revenue allocation, and ratios like EPS, with dynamic allocation schedules and absolute value options for enhanced flexibility.

With over a decade of expertise, Tvarana stands as a trusted partner, delivering customized solutions to elevate your financial operations

Discover how NetSuite can revolutionize your financial reporting. Schedule a free demo with us today!