For businesses aiming to scale efficiently while maintaining control over financial operations, NetSuite Financials provides a robust, flexible solution. As companies grow and evolve, they require an integrated suite of financial management tools capable of handling complex needs, from basic back-office operations to intricate multi-subsidiary management.
GURUS Solutions specializes in implementing NetSuite Financials & Management Modules to help businesses streamline their financial operations, improve efficiency, and scale their operations globally.
NetSuite Financials includes a wide array of modules, each designed to address specific financial challenges. This comprehensive suite is perfect for businesses seeking long-term growth and expansion, offering scalable solutions that grow with you.
Whether you're managing a small finance team or overseeing complex international financial operations, NetSuite provides the tools you need to drive efficiency and maintain visibility into every aspect of your financial health.
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Key NetSuite Financials Modules
The NetSuite Financials suite includes the following essential modules, each designed to meet specific needs within your organization:
Financials & Management
NetSuite’s Financial Management module is the cornerstone of your back-office operations, automating many of the day-to-day financial processes that businesses rely on. From general ledger entries to expense allocation, this module ensures accuracy and provides complete visibility into your financial performance.
Solution Highlights:
- Multiple Budgets: Create and manage multiple budgets for different departments, locations, or classes, enabling a detailed view of financial performance.
- Expense Allocation: Automatically allocate expenses across departments or locations using predefined formulas, making financial reporting easier and more accurate.
- Comprehensive Reporting: Access real-time financial reports that provide valuable insights for decision-makers.
Who Benefits: CEOs, CFOs, Chief Accounting Officers, Controllers, and Accountants all benefit from the ability to make data-driven decisions, improve financial accuracy, and reduce manual work.
Dunning Letters
Managing accounts receivable is a critical task for maintaining cash flow. NetSuite’s Dunning Management module helps businesses streamline their cash conversion cycle by automating dunning letters, ensuring timely collection of outstanding payments.
Dunning letters can be customized and automated to suit your business needs, helping you maintain positive customer relationships while ensuring prompt payment.
Solution Highlights:
- Automated or Manual Processes: You can automate the dunning process using predefined workflows or manage it manually through dashboard reviews, giving your finance team flexibility and control.
- Custom Dunning Procedures: Apply different dunning procedures to specific invoices, tailoring the process to individual clients and ensuring that you communicate appropriately.
Who Benefits: Accounts Receivable Analysts and Controllers benefit from the ability to manage receivables more efficiently, reducing time spent on manual follow-ups while improving cash flow.
Fixed Asset Management
For companies managing large amounts of assets, keeping track of depreciation, valuation, and asset life-cycles can be a challenge. NetSuite’s Fixed Asset Management module offers a comprehensive solution for tracking and reporting on both depreciating and non-depreciating assets.
With support for all standard depreciation methods, this module ensures that your financial reporting accurately reflects the state of your assets.
Solution Highlights:
- Comprehensive Asset Tracking: Track the value and depreciation of your assets, making it easier to report on company-owned equipment, property, and other resources.
- Standard Depreciation Methods: The module supports all standard depreciation methods, including straight-line, declining balance, and more, allowing you to tailor depreciation schedules to your specific needs.
Who Benefits: Accounts Payable Controllers and finance teams gain greater visibility into asset management, ensuring compliance and accuracy in financial reporting.
Incentive Compensation
Sales teams thrive when they understand their compensation in real time. NetSuite’s Incentive Compensation module enables businesses to manage complex commission structures for growing sales teams. By offering real-time visibility into commission calculations, this module helps motivate sales teams and align their efforts with business goals.
Solution Highlights:
- Real-Time Commission Calculations: Sales employees can view their commission calculations in real time, based on sales orders, billings, or cash collection.
- Flexible Compensation Options: You can structure commissions on bookings, billings, or payouts, providing flexibility to match your business model and sales strategy.
Who Benefits: Sales and Marketing Managers, Controllers, and finance teams benefit from greater control over sales incentives, ensuring that sales efforts align with company revenue goals while improving team morale.
OneWorld
For businesses operating internationally or managing multiple subsidiaries, NetSuite’s OneWorld module is an indispensable tool. It enables businesses to manage multiple legal entities, subsidiaries, and currencies, providing a unified platform for global financial management.
With built-in support for international tax regulations and compliance requirements, OneWorld simplifies the complexities of global operations.
Solution Highlights:
- Multi-Entity Management: Manage multiple legal entities or subsidiaries from a single platform, ensuring financial consistency across your organization.
- Multi-Currency and Tax Support: Conduct business across multiple tax jurisdictions or nexuses, with support for different currencies, tax regulations, and reporting requirements.
- Consolidated Reporting: Get consolidated financial reports that provide a global view of your business, making it easier to assess performance across different markets.
Who Benefits: Administrators and Controllers benefit from the ability to streamline multi-entity management, ensuring compliance with global regulations while maintaining financial clarity.
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